Pre Session- Gap up opening on the cards for Sensex
18/08/2015
Indian equity benchmarks are set to witness a positive opening today tracking gains across most markets in Asia and a bullish finish at Wall Street on Monday. The 30-share Sensex, on Monday retreated by 189.04 points or 0.67 per cent to end at 27,878.27 as traders indulged in profit booking following the biggest advance in three months. Shares of public sector banks may continue to hog the limelight after the government last week unveiled hard-hitting measures to reform the country’s banking system grappled by soaring NPAs. Hopes that the Reserve Bank of India (RBI) may cut interest rates next month amid below target inflation and plunging exports may continue to offer support to Dalal Street. A return to calm at global financial markets after the recent volatility sparked by China’s stunning move to stabilize the yuan has also renewed risk taking appetite, paving the way for Bullish bets at Dalal Street. Sentiment may also be supported by speculation of a special Parliament session in September to clear the long pending GST hurdle, making way for the country’s breakthrough fiscal reform that could add 2 per cent to India’s GDP. Amidst a positive trend in most markets across Asia, coupled with strength in the SGX CNX Nifty Index futures for August delivery which climbed 0.22 per cent or 18.50 points at 8,502.50 at 10:32 am Singapore time, Dalal Street is set to open higher today.
Most Asian equities rose today tracking a strong closing at Wall Street overnight as robust US housing data signaled strength in the world’s biggest economy, bolstering the lure for risky assets. Confidence among home builders in the US jumped to the highest level in a decade this month, signaling a pickup in the country’s housing market. The gauge measuring US homebuilder sentiment climbed to the highest level since November 2005 at 61 in August 2015 from 60 in July 2015. China’s Shanghai Composite fell as traders booked profits after the gauge jumped to a three-week high on Monday on speculation of further monetary easing measures while Hang Seng notched up impressive gains and Japan’s Nikkei 225 was trading higher with all eyes fixated on the FOMC’s minutes from its latest meeting set for release on Wednesday.
18/08/2015
Indian equity benchmarks are set to witness a positive opening today tracking gains across most markets in Asia and a bullish finish at Wall Street on Monday. The 30-share Sensex, on Monday retreated by 189.04 points or 0.67 per cent to end at 27,878.27 as traders indulged in profit booking following the biggest advance in three months. Shares of public sector banks may continue to hog the limelight after the government last week unveiled hard-hitting measures to reform the country’s banking system grappled by soaring NPAs. Hopes that the Reserve Bank of India (RBI) may cut interest rates next month amid below target inflation and plunging exports may continue to offer support to Dalal Street. A return to calm at global financial markets after the recent volatility sparked by China’s stunning move to stabilize the yuan has also renewed risk taking appetite, paving the way for Bullish bets at Dalal Street. Sentiment may also be supported by speculation of a special Parliament session in September to clear the long pending GST hurdle, making way for the country’s breakthrough fiscal reform that could add 2 per cent to India’s GDP. Amidst a positive trend in most markets across Asia, coupled with strength in the SGX CNX Nifty Index futures for August delivery which climbed 0.22 per cent or 18.50 points at 8,502.50 at 10:32 am Singapore time, Dalal Street is set to open higher today.
Most Asian equities rose today tracking a strong closing at Wall Street overnight as robust US housing data signaled strength in the world’s biggest economy, bolstering the lure for risky assets. Confidence among home builders in the US jumped to the highest level in a decade this month, signaling a pickup in the country’s housing market. The gauge measuring US homebuilder sentiment climbed to the highest level since November 2005 at 61 in August 2015 from 60 in July 2015. China’s Shanghai Composite fell as traders booked profits after the gauge jumped to a three-week high on Monday on speculation of further monetary easing measures while Hang Seng notched up impressive gains and Japan’s Nikkei 225 was trading higher with all eyes fixated on the FOMC’s minutes from its latest meeting set for release on Wednesday.
