Pre Session- Gap up opening seen for Sensex, Infosys Q2 eyed
12/10/2015
Indian equity benchmarks are set to open higher today tracking a bullish trend in markets across Asia amidst speculation of a delayed US Federal Reserve interest rate hike, while investors eyed the start of the Q2 corporate earnings season with IT bellwether Infosys unveiling its September financial report card on Monday. Strength in the SGX CNX Nifty Index futures for October delivery which advanced 0.49 per cent or 40 points at 8,235.5 at 10:39 am Singapore time, Dalal Street is poised for a bullish opening on Monday. Analysts expect India’s second largest software exporter, Infosys to post a 5.9 per cent increase in net income, year on year at Rs 3,280 crore in the July-September 2015 quarter. RIL, HUL and TCS will also report their September quarter earnings numbers this week. Meanwhile, traders will also eye the beginning of the state elections in Bihar with a favourable outcome crucial for Prime Minister Narendra Modi’s efforts as he seeks control of the upper house of the Parliament where key bills such as GST remain stuck. The 30-share Sensex on Friday rallied 233.7 points or by 0.87 per cent to 27,079.51 after FOMC minutes signaled caution on part of policymakers over raising interest rates despite an improvement in the US economy, as spillovers from a struggling Chinese economy threaten to hit other emerging markets. A delayed US rate hike could boost capital flows into emerging markets such as India.
Asian stocks extended the biggest weekly advance since December 2011 led by gains in industrial and technology shares as bets of a pushback of US monetary tightening timetable buoyed sentiment. Shanghai Composite surged by over 2.5 per cent after policymakers vowed to increase fiscal support for shantytown redevelopment to help bolster growth in the world’s second biggest economy. Hang Seng was up 1 per cent while markets in Tokyo were closed for a holiday. US stocks advanced on Friday with benchmark S&P 500 posting its biggest weekly rally this year after Fed Vice Chairman Stan Fisher said that a 2015 rate hike was an expectation, but not a commitment, with considerable uncertainties surrounding US economic outlook amidst slowing global growth which may hit exports, low investment amidst a collapse in oil prices and recent dismal jobs growth data
12/10/2015
Indian equity benchmarks are set to open higher today tracking a bullish trend in markets across Asia amidst speculation of a delayed US Federal Reserve interest rate hike, while investors eyed the start of the Q2 corporate earnings season with IT bellwether Infosys unveiling its September financial report card on Monday. Strength in the SGX CNX Nifty Index futures for October delivery which advanced 0.49 per cent or 40 points at 8,235.5 at 10:39 am Singapore time, Dalal Street is poised for a bullish opening on Monday. Analysts expect India’s second largest software exporter, Infosys to post a 5.9 per cent increase in net income, year on year at Rs 3,280 crore in the July-September 2015 quarter. RIL, HUL and TCS will also report their September quarter earnings numbers this week. Meanwhile, traders will also eye the beginning of the state elections in Bihar with a favourable outcome crucial for Prime Minister Narendra Modi’s efforts as he seeks control of the upper house of the Parliament where key bills such as GST remain stuck. The 30-share Sensex on Friday rallied 233.7 points or by 0.87 per cent to 27,079.51 after FOMC minutes signaled caution on part of policymakers over raising interest rates despite an improvement in the US economy, as spillovers from a struggling Chinese economy threaten to hit other emerging markets. A delayed US rate hike could boost capital flows into emerging markets such as India.
Asian stocks extended the biggest weekly advance since December 2011 led by gains in industrial and technology shares as bets of a pushback of US monetary tightening timetable buoyed sentiment. Shanghai Composite surged by over 2.5 per cent after policymakers vowed to increase fiscal support for shantytown redevelopment to help bolster growth in the world’s second biggest economy. Hang Seng was up 1 per cent while markets in Tokyo were closed for a holiday. US stocks advanced on Friday with benchmark S&P 500 posting its biggest weekly rally this year after Fed Vice Chairman Stan Fisher said that a 2015 rate hike was an expectation, but not a commitment, with considerable uncertainties surrounding US economic outlook amidst slowing global growth which may hit exports, low investment amidst a collapse in oil prices and recent dismal jobs growth data
