Pre Session- Gap up opening on the cards for Sensex on global rally
16/10/2015 08:29
The key domestic benchmarks are set to open higher on Friday tracking a bullish trend across markets in Asia and a positive finish overnight at Wall Street as speculation that the US Federal Reserve may put off an interest rate hike until next year continued to boost the appetite for equities. Traders will weigh the trade gap data which was released after marker hours on Thursday. India’s trade deficit shrank to USD 10.5 billion in September from USD 12.5 billion in August led by the biggest plunge in exports since 2009 amidst a global slowdown. Exports tumbled 24 per cent in September while imports fell 25 per cent, the steepest drop since September 2009. All eyes will be on the Q2 corporate earnings report card of Reliance Industries set for release today, with September quarter net income predicted to come in at Rs 5,880 crore by analysts. Against the backdrop of gains in global stocks coupled with strength in the SGX CNX Nifty Index futures for October delivery which rallied 0.34 per cent or 28 points at 8,215 at 10:29 am Singapore time, Dalal Street is set to witness a gap up opening today. Snapping a three-day losing streak, the 30-share Sensex on Thursday advanced by 230.48 points or by 0.86 per cent to end at 27,010.14 driven by value-buying in blue chips with auto, metal and PSU leading the rally as a strong rebound in Asian markets amidst hopes of the Fed putting off policy tightening until 2016 bolstered sentiment.
Asian stocks rose driven by gains in technology and financial companies with markets in mainland China rallying on hopes that the government will push reforms of state-owned companies to stem a slowdown in the world’s second biggest economy. Hang Seng was also trading higher after upbeat China lending data bolstered sentiment as new yuan loans in September came in at 1.05 trillion yuan, up from the 900 billion yuan estimated by analysts. Japan’s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. US stocks advanced for the first time in three days on Thursday, with the Dow Jones Industrial Average, the Nasdaq Composite and S&P 500 all notching up gains of over 1 per cent led by a robust rally in banks’ stocks and upbeat labour market data which showed that the number of Americans seeking unemployment insurance benefits fell by 7,000 last week, signaling a pickup in the job market recovery of the world’s biggest economy.
16/10/2015 08:29
The key domestic benchmarks are set to open higher on Friday tracking a bullish trend across markets in Asia and a positive finish overnight at Wall Street as speculation that the US Federal Reserve may put off an interest rate hike until next year continued to boost the appetite for equities. Traders will weigh the trade gap data which was released after marker hours on Thursday. India’s trade deficit shrank to USD 10.5 billion in September from USD 12.5 billion in August led by the biggest plunge in exports since 2009 amidst a global slowdown. Exports tumbled 24 per cent in September while imports fell 25 per cent, the steepest drop since September 2009. All eyes will be on the Q2 corporate earnings report card of Reliance Industries set for release today, with September quarter net income predicted to come in at Rs 5,880 crore by analysts. Against the backdrop of gains in global stocks coupled with strength in the SGX CNX Nifty Index futures for October delivery which rallied 0.34 per cent or 28 points at 8,215 at 10:29 am Singapore time, Dalal Street is set to witness a gap up opening today. Snapping a three-day losing streak, the 30-share Sensex on Thursday advanced by 230.48 points or by 0.86 per cent to end at 27,010.14 driven by value-buying in blue chips with auto, metal and PSU leading the rally as a strong rebound in Asian markets amidst hopes of the Fed putting off policy tightening until 2016 bolstered sentiment.
Asian stocks rose driven by gains in technology and financial companies with markets in mainland China rallying on hopes that the government will push reforms of state-owned companies to stem a slowdown in the world’s second biggest economy. Hang Seng was also trading higher after upbeat China lending data bolstered sentiment as new yuan loans in September came in at 1.05 trillion yuan, up from the 900 billion yuan estimated by analysts. Japan’s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. US stocks advanced for the first time in three days on Thursday, with the Dow Jones Industrial Average, the Nasdaq Composite and S&P 500 all notching up gains of over 1 per cent led by a robust rally in banks’ stocks and upbeat labour market data which showed that the number of Americans seeking unemployment insurance benefits fell by 7,000 last week, signaling a pickup in the job market recovery of the world’s biggest economy.
