Pre Session- Sensex set to snap 3-day losing streak on Asian rally
15/10/2015
The key domestic benchmarks are poised to advance for the first time in four sessions on Thursday tracking a bullish trend from fellow Asian peers as reduced odds of the US Federal Reserve raising interest rates in 2015 bolstered the lure for risky assets. Marking a third straight finish in the red, the 30-share Sensex on Wednesday, fell by 66.87 points or by 0.25 per cent to end at 26,779.66 as Q2 corporate earnings numbers from the likes of TCS and HUL failed to impress investors while tepid China inflation data with producer prices extending a deflationary spiral signaled weakness in the world’s second biggest economy, dampening sentiment. Meanwhile, India’s wholesale prices remained entrenched in deflation for an 11th month on the trot, falling 4.54 per cent, year on year in September 2015, compared to a 4.95 per cent annual decline in August 2015. Against the backdrop of gains in Asian stocks coupled with strength in the SGX CNX Nifty Index futures for October delivery which rallied 0.34 per cent or 28 points at 8,154.5 at 10:47 am Singapore time, Dalal Street is set to witness a gap up opening today.
Asian stocks rose led by gains in technology and phone shares, while traders were hopeful of further China stimulus after Wednesday’s dismal factory-gate deflation data. Further, soft US retail sales data also pushed back bets of policy tightening by the US Federal Reserve, bolstering the lure for equities. US retail sales advanced only 0.1 per cent in August from July when they stood little changed. Stocks in mainland China and Hong Kong rose after the government said it’s reorganizing the telecom industry by creating a new tower company. Japan’s Nikkei 225 rallied as a weaker yen boosted the appeal of exporter stocks. However, Wall Street retreated for a second straight day on Wednesday as JP Morgan’s September quarter earnings disappointed while Wal-Mart Stores predicted a drop in earnings next year.
15/10/2015
The key domestic benchmarks are poised to advance for the first time in four sessions on Thursday tracking a bullish trend from fellow Asian peers as reduced odds of the US Federal Reserve raising interest rates in 2015 bolstered the lure for risky assets. Marking a third straight finish in the red, the 30-share Sensex on Wednesday, fell by 66.87 points or by 0.25 per cent to end at 26,779.66 as Q2 corporate earnings numbers from the likes of TCS and HUL failed to impress investors while tepid China inflation data with producer prices extending a deflationary spiral signaled weakness in the world’s second biggest economy, dampening sentiment. Meanwhile, India’s wholesale prices remained entrenched in deflation for an 11th month on the trot, falling 4.54 per cent, year on year in September 2015, compared to a 4.95 per cent annual decline in August 2015. Against the backdrop of gains in Asian stocks coupled with strength in the SGX CNX Nifty Index futures for October delivery which rallied 0.34 per cent or 28 points at 8,154.5 at 10:47 am Singapore time, Dalal Street is set to witness a gap up opening today.
Asian stocks rose led by gains in technology and phone shares, while traders were hopeful of further China stimulus after Wednesday’s dismal factory-gate deflation data. Further, soft US retail sales data also pushed back bets of policy tightening by the US Federal Reserve, bolstering the lure for equities. US retail sales advanced only 0.1 per cent in August from July when they stood little changed. Stocks in mainland China and Hong Kong rose after the government said it’s reorganizing the telecom industry by creating a new tower company. Japan’s Nikkei 225 rallied as a weaker yen boosted the appeal of exporter stocks. However, Wall Street retreated for a second straight day on Wednesday as JP Morgan’s September quarter earnings disappointed while Wal-Mart Stores predicted a drop in earnings next year.
