Pre Session: Sensex, Nifty seen opening flat on mixed global cues
08/06/2015
Tracking muted cues from global peers, the Indian equity benchmarks may open flat for a fifth straight day on Monday ahead of slew of macroeconomic data such as IIP and inflation data due this week. Going forward, the global crude oil price trend and progress of monsoon will also set the tone this week for the domestic markets. The negative opening in the SGX CNX Nifty Index futures for June delivery indicates a gap down opening at Dalal Street. Meanwhile, the persistent worries over Greece and the much anticipated Fed rate hike later this year may also weigh on investors sentiment. On the global front, Asian peers were trading on mix note as investors reacted negatively to better-than-expected US employment data which boosted the case for the Federal Reserve to raise interest rates this year. On Friday, US stocks ended on mixed note as worries over Greece unnerves investors and strong-than-expected US May non-farm payrolls data raised hope for the US Federal Reserve’s maiden interest rate hike since 2006.
On Friday, the Indian equities ended flat for fifth straight session in a volatile trade as the market succumbed to bout of profit booking, weighed by selling in select banking & financials, technology and auto stocks. The losses remained capped after a private weather forecaster Skymet countered Met forecast saying monsoon will be good this year as the Indian Ocean Dipole (IOD) phenomenon counters an El Nino weather event. Rate sensitive Realty and Bankex topped the laggards among BSE sectorials.
08/06/2015
Tracking muted cues from global peers, the Indian equity benchmarks may open flat for a fifth straight day on Monday ahead of slew of macroeconomic data such as IIP and inflation data due this week. Going forward, the global crude oil price trend and progress of monsoon will also set the tone this week for the domestic markets. The negative opening in the SGX CNX Nifty Index futures for June delivery indicates a gap down opening at Dalal Street. Meanwhile, the persistent worries over Greece and the much anticipated Fed rate hike later this year may also weigh on investors sentiment. On the global front, Asian peers were trading on mix note as investors reacted negatively to better-than-expected US employment data which boosted the case for the Federal Reserve to raise interest rates this year. On Friday, US stocks ended on mixed note as worries over Greece unnerves investors and strong-than-expected US May non-farm payrolls data raised hope for the US Federal Reserve’s maiden interest rate hike since 2006.
On Friday, the Indian equities ended flat for fifth straight session in a volatile trade as the market succumbed to bout of profit booking, weighed by selling in select banking & financials, technology and auto stocks. The losses remained capped after a private weather forecaster Skymet countered Met forecast saying monsoon will be good this year as the Indian Ocean Dipole (IOD) phenomenon counters an El Nino weather event. Rate sensitive Realty and Bankex topped the laggards among BSE sectorials.
