Pre Session- Gap down opening on the cards for Sensex amid profit- booking
19/10/2015
The key Indian equity benchmarks are set to witness a bearish opening today as investors resort to profit booking following a third straight weekly gain, whilst a mixed trend from fellow Asian peers may also weigh on sentiment. Marking a third straight weekly gain, the 30-share Sensex on Friday rallied by 204.46 points or by 0.76 per cent to end at 27,214.6 led by gains in banks stocks, whilst positive cues from global markets amid bets of a delay in US interest rate hike bolstered the lure for risky assets. Weakness in the CNX Nifty Index futures for October delivery which fell 0.23 per cent or 19 points at 8,242 at 10:41 am Singapore time, signals a negative opening for Dalal Street on Monday. Shares of Reliance Industries may witness buying interest after the company posted a better-than-expected Q2 report card in-after-markets hours on Friday. Reliance Industries said that its net profit for the September quarter climbed 12.5 per cent to a record Rs 6,720 crore in Q2 FY 2015-16. Traders will closely eye the September quarter earnings numbers from the likes of HDFC Bank, Wipro, UltraTech and Hero Moto-Corp set for release this week. Amidst the ongoing festive season including Navratri and Dussehra, which is traditionally a gold buying season, equity market participation by retail investors may be limited this week.
Asian stocks were trading on a mixed note as investors weighed the slowest expansion in China’s GDP growth since Q1 2009 in Q3 2015. China’s Shanghai Composite rose as China’s Q3 economic growth came in at 6.9 per cent, beating forecasts for 6.8 per cent. Hang Seng and Japan’s Nikkei 225 were both trading on a downbeat note. Wall Street advanced on Friday as weaker than expected US data which showed a drop in factory output in September raised bets that the Fed may put off policy tightening until next year.
19/10/2015
The key Indian equity benchmarks are set to witness a bearish opening today as investors resort to profit booking following a third straight weekly gain, whilst a mixed trend from fellow Asian peers may also weigh on sentiment. Marking a third straight weekly gain, the 30-share Sensex on Friday rallied by 204.46 points or by 0.76 per cent to end at 27,214.6 led by gains in banks stocks, whilst positive cues from global markets amid bets of a delay in US interest rate hike bolstered the lure for risky assets. Weakness in the CNX Nifty Index futures for October delivery which fell 0.23 per cent or 19 points at 8,242 at 10:41 am Singapore time, signals a negative opening for Dalal Street on Monday. Shares of Reliance Industries may witness buying interest after the company posted a better-than-expected Q2 report card in-after-markets hours on Friday. Reliance Industries said that its net profit for the September quarter climbed 12.5 per cent to a record Rs 6,720 crore in Q2 FY 2015-16. Traders will closely eye the September quarter earnings numbers from the likes of HDFC Bank, Wipro, UltraTech and Hero Moto-Corp set for release this week. Amidst the ongoing festive season including Navratri and Dussehra, which is traditionally a gold buying season, equity market participation by retail investors may be limited this week.
Asian stocks were trading on a mixed note as investors weighed the slowest expansion in China’s GDP growth since Q1 2009 in Q3 2015. China’s Shanghai Composite rose as China’s Q3 economic growth came in at 6.9 per cent, beating forecasts for 6.8 per cent. Hang Seng and Japan’s Nikkei 225 were both trading on a downbeat note. Wall Street advanced on Friday as weaker than expected US data which showed a drop in factory output in September raised bets that the Fed may put off policy tightening until next year.
