Pre Session- Bullish trend may continue at Dalal Street
31/07/2015
Tracking a mostly positive trend in fellow Asian peers amidst a pickup in the US economy coupled with renewed hopes over reforms, Indian equity benchmarks are poised to extend a two-day advance on Friday. Marking a second straight finish above the baseline, the 30-share Sensex rallied by 141.92 points or by 0.51 per cent to close at 27,705.35 on Thursday as traders rolled over their positions on the day of the expiry of the July Futures & Options (F&O) contracts while optimism over reforms was back to the fore as the Cabinet gave the nod to incorporation of changes in the GST bill as suggested by the Rajya Sabha select committee, fueling hopes that the breakthrough fiscal reform bill may be passed during the ongoing Monsoon Session of Parliament, bolstering the outlook for Asia’s third biggest economy. Shares of private sector lender ICICI Bank, Sun TV and wind turbine manufacturer Suzlon Energy will be in focus today as these companies unveil their June quarter earnings report cards today. The SGX CNX Nifty Index futures for August delivery climbed 0.16 per cent or 13.5 points at 8,486.5 at 10:44 am Singapore time, signaling a gap up opening for the domestic benchmarks today.
Most Asian markets were trading higher on Friday after robust US Q2 GDP data signaled strength in the world’s biggest economy, bolstering risk taking appetite. The US economy expanded at an annualized pace of 2.3 per cent in the June quarter following a revised 0.6 per cent gain in Q1 driven by solid gains in consumer spending. China’s Shanghai Composite extended Thursday’s more than 2 per cent decline amidst caution before Saturday’s factory data, a sign that government support measures to stabilize the market have done little to stem the rout. Hang Seng advanced while Japan’s Nikkei 225 logged slim gains as soft inflation and spending data weighed on sentiment. Japan’s core consumer prices rose 0.1 per cent, year on year in June while households cut purchases by 2 per cent, clouding the outlook for the world’s third biggest economy. Wall Street ended little changed on Thursday as strong US economic growth data was offset by disappointing earnings from social media giant Facebook.
31/07/2015
Tracking a mostly positive trend in fellow Asian peers amidst a pickup in the US economy coupled with renewed hopes over reforms, Indian equity benchmarks are poised to extend a two-day advance on Friday. Marking a second straight finish above the baseline, the 30-share Sensex rallied by 141.92 points or by 0.51 per cent to close at 27,705.35 on Thursday as traders rolled over their positions on the day of the expiry of the July Futures & Options (F&O) contracts while optimism over reforms was back to the fore as the Cabinet gave the nod to incorporation of changes in the GST bill as suggested by the Rajya Sabha select committee, fueling hopes that the breakthrough fiscal reform bill may be passed during the ongoing Monsoon Session of Parliament, bolstering the outlook for Asia’s third biggest economy. Shares of private sector lender ICICI Bank, Sun TV and wind turbine manufacturer Suzlon Energy will be in focus today as these companies unveil their June quarter earnings report cards today. The SGX CNX Nifty Index futures for August delivery climbed 0.16 per cent or 13.5 points at 8,486.5 at 10:44 am Singapore time, signaling a gap up opening for the domestic benchmarks today.
Most Asian markets were trading higher on Friday after robust US Q2 GDP data signaled strength in the world’s biggest economy, bolstering risk taking appetite. The US economy expanded at an annualized pace of 2.3 per cent in the June quarter following a revised 0.6 per cent gain in Q1 driven by solid gains in consumer spending. China’s Shanghai Composite extended Thursday’s more than 2 per cent decline amidst caution before Saturday’s factory data, a sign that government support measures to stabilize the market have done little to stem the rout. Hang Seng advanced while Japan’s Nikkei 225 logged slim gains as soft inflation and spending data weighed on sentiment. Japan’s core consumer prices rose 0.1 per cent, year on year in June while households cut purchases by 2 per cent, clouding the outlook for the world’s third biggest economy. Wall Street ended little changed on Thursday as strong US economic growth data was offset by disappointing earnings from social media giant Facebook.
