Pre Session: Market may see gap down opening as Grexit looms
30/06/2015
Triggered by the Greece debt woes, the Indian equities are likely to see a negative opening on Tuesday tracking muted cues from Asian peers as fear of Greece defaults looms over investors, prompting them to move towards safer assets such as bond and gold. Most of the Asian stocks rebounded today, barring China’s Shanghai Composite, with Japan’s Nikkei 225 up 0.1 per cent and Hang Seng gained 0.42 per cent. The China’s Shanghai Composite cracked nearly 4 per cent despite regulators effort to ease investors' fears of a looming crash after markets plunged more than 20 percent in the last few weeks. In overnight trade, US equities ended sharply lower on Monday as ongoing crisis in Greece left investors jittering. Back home, 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.
Yesterday, the Indian benchmarks closed on a negative note in the midst of weak global cues after Greece and international creditors which failed to come to an agreement over debt payments raised fears of Greece's exit from the euro zone. All sectoral indices ended lower with BSE Realty index emerging as the top loser followed by the IT and Metal indices among others. IT companies closed lower after Tech Mahindra warned about its April-June quarter (Q1FY16) results.
30/06/2015
Triggered by the Greece debt woes, the Indian equities are likely to see a negative opening on Tuesday tracking muted cues from Asian peers as fear of Greece defaults looms over investors, prompting them to move towards safer assets such as bond and gold. Most of the Asian stocks rebounded today, barring China’s Shanghai Composite, with Japan’s Nikkei 225 up 0.1 per cent and Hang Seng gained 0.42 per cent. The China’s Shanghai Composite cracked nearly 4 per cent despite regulators effort to ease investors' fears of a looming crash after markets plunged more than 20 percent in the last few weeks. In overnight trade, US equities ended sharply lower on Monday as ongoing crisis in Greece left investors jittering. Back home, 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.
Yesterday, the Indian benchmarks closed on a negative note in the midst of weak global cues after Greece and international creditors which failed to come to an agreement over debt payments raised fears of Greece's exit from the euro zone. All sectoral indices ended lower with BSE Realty index emerging as the top loser followed by the IT and Metal indices among others. IT companies closed lower after Tech Mahindra warned about its April-June quarter (Q1FY16) results.
