Pre Session- Positive opening on the cards on firm Asia trend
22/12/2014 08:45
The key domestic benchmarks are likely to open higher today tracking a firm trend in markets across Asia and a bullish closing at Wall Street on Friday as a rebound in crude oil prices revived sentiment while the US Federal Reserve’s assurance that it will refrain from raising borrowing costs at least until end-April continues to bolster the appeal of emerging market assets. China’s Shanghai Composite rose to the highest level in four years amid a surge in trading volumes while Hang Seng rose but Japan’s Nikkei 225 was little changed. Back home, market sentiment may continue to remain bullish on hopes that the Modi government’s aggressive reform spree may bolster growth in Asia’s third biggest economy. The nod to GST is a big breakthrough fiscal reform and has the potential to boost India’s GDP by as much as 1.7 per cent. GST which will replace more than a dozen indirect taxes may help arrest corruption and make India’s tax structure more efficient and simplified. However, some volatility may be seen in the Sensex ahead of the December Futures & Options (F&O) expiry this Thursday.
22/12/2014 08:45
The key domestic benchmarks are likely to open higher today tracking a firm trend in markets across Asia and a bullish closing at Wall Street on Friday as a rebound in crude oil prices revived sentiment while the US Federal Reserve’s assurance that it will refrain from raising borrowing costs at least until end-April continues to bolster the appeal of emerging market assets. China’s Shanghai Composite rose to the highest level in four years amid a surge in trading volumes while Hang Seng rose but Japan’s Nikkei 225 was little changed. Back home, market sentiment may continue to remain bullish on hopes that the Modi government’s aggressive reform spree may bolster growth in Asia’s third biggest economy. The nod to GST is a big breakthrough fiscal reform and has the potential to boost India’s GDP by as much as 1.7 per cent. GST which will replace more than a dozen indirect taxes may help arrest corruption and make India’s tax structure more efficient and simplified. However, some volatility may be seen in the Sensex ahead of the December Futures & Options (F&O) expiry this Thursday.
