Pre-Session: Dalal-Street may see flat opening
01/07/2015
The Indian equities are likely to see a flat to positive opening on Wednesday tracking firm cues from Asian peers which shrugged off Greece default fears. China’s Shanghai Composite rebounded after a report said that China's manufacturing industry for June will show the quickest expansion since October, while a private factory gauge will signal a fourth month of contraction, according to economists surveyed by Bloomberg before data Wednesday. In the overnight trade, US stocks ended higher as investors hope for deal to keep Greece in the euro. However, a negative opening of the SGX CNX Nifty Index futures indicates a bearish opening for domestic bourses. With Greece set to default on its debt repayment, due today, foreign investors may further pull out money from Indian markets. A government data on Tuesday showed that growth in production in the eight key infrastructure sectors hit a six-month high of 4.4 per cent in May, after two consecutive months of decline, indicating a recovery in industrial activity. Snapping two-day losing streak, the Indian benchmarks ended on a positive note with healthcare and FMCG shares leading the gains. On the sectoral front, BSE Consumer Durables index ended higher followed by BSE FMCG and BSE Healthcare indices.
01/07/2015
The Indian equities are likely to see a flat to positive opening on Wednesday tracking firm cues from Asian peers which shrugged off Greece default fears. China’s Shanghai Composite rebounded after a report said that China's manufacturing industry for June will show the quickest expansion since October, while a private factory gauge will signal a fourth month of contraction, according to economists surveyed by Bloomberg before data Wednesday. In the overnight trade, US stocks ended higher as investors hope for deal to keep Greece in the euro. However, a negative opening of the SGX CNX Nifty Index futures indicates a bearish opening for domestic bourses. With Greece set to default on its debt repayment, due today, foreign investors may further pull out money from Indian markets. A government data on Tuesday showed that growth in production in the eight key infrastructure sectors hit a six-month high of 4.4 per cent in May, after two consecutive months of decline, indicating a recovery in industrial activity. Snapping two-day losing streak, the Indian benchmarks ended on a positive note with healthcare and FMCG shares leading the gains. On the sectoral front, BSE Consumer Durables index ended higher followed by BSE FMCG and BSE Healthcare indices.
