Pre Session- Sensex to open tad lower amid mixed global trend
21/10/2015 08:43
The key Indian equity benchmarks are poised to open on a flat note, with a negative bias on Wednesday, tracking a bearish finish at Wall Street overnight. Traders may continue to resort to profit-booking after the recent impressive rally while many retail investors may stay on the sidelines ahead of tomorrow’s holiday for the festival of dussehra. All eyes will be on the September quarter report cards of one of the country’s biggest private sector lenders HDFC Bank, set for release today while motorcycle maker Bajaj Auto and software services provider Wipro will also unveil their Q2 earnings numbers on Wednesday. Shares of Hero MotoCorp may witness some buying momentum after the company in after-market-hours yesterday reported a better-than-expected net income of Rs 772 crore in Q2 FY 2015-16, up 1 per cent from the year ago period. Against the backdrop of a subdued global trend coupled with tepid trade in the CNX Nifty Index futures for October delivery which fell by 0.04 per cent or 3 points at 8,253.5 at 10:35 am Singapore time, Dalal Street is poised to open little changed, with a negative bias on Wednesday. Snapping a three-day winning streak, the 30-share Sensex on Tuesday ended lower by 58.09 points or by 0.21 per cent at 27,306.83 as markets took a breather after a recent rally which pushed indices to a two-month high.
Asian stocks were trading higher, shrugging off a dip in US benchmarks overnight amidst mixed corporate earnings data. While China’s Shanghai Composite logged modest gains, on bets of further stimulus to stem a worsening slowdown in the world’s second biggest economy, markets in Hong Kong were shut and Japan’s Nikkei 225 rose as a weaker yen bolstered the appeal of exporter stocks. The yen weakened as data showed that Japan’s exports rose at the slowest pace in more than a year, up 0.6 per cent in September 2015, year on year. Weak earnings from the likes of IBM and a sell-off in biotechnology shares pulled down Wall Street on Tuesday, overshadowing data which showed that new residential construction surged to the second highest level in eight years in September, signaling a pickup in the housing market of the world’s biggest economy.
21/10/2015 08:43
The key Indian equity benchmarks are poised to open on a flat note, with a negative bias on Wednesday, tracking a bearish finish at Wall Street overnight. Traders may continue to resort to profit-booking after the recent impressive rally while many retail investors may stay on the sidelines ahead of tomorrow’s holiday for the festival of dussehra. All eyes will be on the September quarter report cards of one of the country’s biggest private sector lenders HDFC Bank, set for release today while motorcycle maker Bajaj Auto and software services provider Wipro will also unveil their Q2 earnings numbers on Wednesday. Shares of Hero MotoCorp may witness some buying momentum after the company in after-market-hours yesterday reported a better-than-expected net income of Rs 772 crore in Q2 FY 2015-16, up 1 per cent from the year ago period. Against the backdrop of a subdued global trend coupled with tepid trade in the CNX Nifty Index futures for October delivery which fell by 0.04 per cent or 3 points at 8,253.5 at 10:35 am Singapore time, Dalal Street is poised to open little changed, with a negative bias on Wednesday. Snapping a three-day winning streak, the 30-share Sensex on Tuesday ended lower by 58.09 points or by 0.21 per cent at 27,306.83 as markets took a breather after a recent rally which pushed indices to a two-month high.
Asian stocks were trading higher, shrugging off a dip in US benchmarks overnight amidst mixed corporate earnings data. While China’s Shanghai Composite logged modest gains, on bets of further stimulus to stem a worsening slowdown in the world’s second biggest economy, markets in Hong Kong were shut and Japan’s Nikkei 225 rose as a weaker yen bolstered the appeal of exporter stocks. The yen weakened as data showed that Japan’s exports rose at the slowest pace in more than a year, up 0.6 per cent in September 2015, year on year. Weak earnings from the likes of IBM and a sell-off in biotechnology shares pulled down Wall Street on Tuesday, overshadowing data which showed that new residential construction surged to the second highest level in eight years in September, signaling a pickup in the housing market of the world’s biggest economy.
