Pre Session: Market seen opening flat on muted global cues
14/08/2015
The Indian equity benchmarks may see subdued opening on Friday tracking mixed cues from global peers as mixed earnings result and China’s Yuan devaluation may weigh on investors sentiment. The washout of monsoon session without passage of the crucial GST and land Bill may dent market sentiment further. Snapping four day losing streak, the Indian equities ended marginally higher in choppy trade on Thursday as China’s currency devaluation took a toll on rupee and metal stocks. The BSE SENSEX closed at 27549.53, up by 37.27 points or by 0.14 per cent, while the NSE Nifty ended 6.4 points higher at 8355.85. Selling pressure intensified in metal stock after China devalued the Yuan for a third straight day as it would impact exports of metal companies which rely heavily on China for their revenues. Indian rupee also bears the brunt of Yuan devaluation, falling to record low of 65.10 against US dollar. Meanwhile, the SGX CNX Nifty Index futures for August delivery were trading 16 points higher at 8,419 at 8:00 am Indian time indicates a flat opening at Dalal Street. On the global front, Asian stocks were trading marginally higher in volatile trade, with China’s Shanghai Composite and Hang Seng Index extending rally as the Yuan’s plunge eased. The Japanese benchmark Nikkei 225 was down as investors weighed an increase in China’s Yuan reference rate and a decline in crude oil price. In overnight trade, US stocks ended mostly lower in volatile trade as drop in oil prices coupled with mixed earnings result weighed on investors sentiment.
14/08/2015
The Indian equity benchmarks may see subdued opening on Friday tracking mixed cues from global peers as mixed earnings result and China’s Yuan devaluation may weigh on investors sentiment. The washout of monsoon session without passage of the crucial GST and land Bill may dent market sentiment further. Snapping four day losing streak, the Indian equities ended marginally higher in choppy trade on Thursday as China’s currency devaluation took a toll on rupee and metal stocks. The BSE SENSEX closed at 27549.53, up by 37.27 points or by 0.14 per cent, while the NSE Nifty ended 6.4 points higher at 8355.85. Selling pressure intensified in metal stock after China devalued the Yuan for a third straight day as it would impact exports of metal companies which rely heavily on China for their revenues. Indian rupee also bears the brunt of Yuan devaluation, falling to record low of 65.10 against US dollar. Meanwhile, the SGX CNX Nifty Index futures for August delivery were trading 16 points higher at 8,419 at 8:00 am Indian time indicates a flat opening at Dalal Street. On the global front, Asian stocks were trading marginally higher in volatile trade, with China’s Shanghai Composite and Hang Seng Index extending rally as the Yuan’s plunge eased. The Japanese benchmark Nikkei 225 was down as investors weighed an increase in China’s Yuan reference rate and a decline in crude oil price. In overnight trade, US stocks ended mostly lower in volatile trade as drop in oil prices coupled with mixed earnings result weighed on investors sentiment.
