Pre Session- Sensex set to extend losing streak on Asia sell-off
02/11/2015
The key Indian equity benchmarks are poised to witness a gap down opening today tracking a bearish trend across markets in Asia as China’s factory slump worsened, signaling concerns over the health of the world’s second biggest economy, souring risk taking appetite. Markets are expected to witness a bout of volatility this week amid caution ahead of the outcome of Bihar state polls and the next batch of September quarter earnings numbers with results from Tech Mahindra, Tata Steel, Cipla, Tata Motors, SBI, PNB, M&M, ONGC and BHEL due this week while auto makers will release their October sales data too. Against the backdrop of tepid global cues and weakness in the CNX Nifty Index futures for November delivery which fell by 0.25 per cent or 20 points at 8,057 at 10:47 am Singapore time, Dalal Street is set to open on a bearish note today. Marking a fifth straight finish in the red, the 30-share Sensex on Friday fell 181.31 points or 0.68 per cent to end at 26,656.83 as quarterly results from L&T and ITC disappointed while traders cautiously eyed the Bihar state elections as a win for the BJP party could help Narendra Modi’s efforts to control the Upper House of Parliament and get key economic reforms bills passed.
Asian stocks fell amid worries over the health of the Chinese economy. China’s Shanghai Composite was trading lower after China’s official factory PMI contracted in October, coming in at 49.8, unchanged from September, with a reading below 50 signaling contraction. Hang Seng was trading lower while Japan’s Nikkei 225 plunged nearly 2 per cent as a stronger yen curbed the appeal of exporter stocks as the Bank of Japan refrained from fresh stimulus on Friday. Wall Street ended lower on Friday, trimming the strongest monthly gain since 2011 as tepid earnings numbers and a smaller than expected rise in US consumer spending and household sentiment weighed
02/11/2015
The key Indian equity benchmarks are poised to witness a gap down opening today tracking a bearish trend across markets in Asia as China’s factory slump worsened, signaling concerns over the health of the world’s second biggest economy, souring risk taking appetite. Markets are expected to witness a bout of volatility this week amid caution ahead of the outcome of Bihar state polls and the next batch of September quarter earnings numbers with results from Tech Mahindra, Tata Steel, Cipla, Tata Motors, SBI, PNB, M&M, ONGC and BHEL due this week while auto makers will release their October sales data too. Against the backdrop of tepid global cues and weakness in the CNX Nifty Index futures for November delivery which fell by 0.25 per cent or 20 points at 8,057 at 10:47 am Singapore time, Dalal Street is set to open on a bearish note today. Marking a fifth straight finish in the red, the 30-share Sensex on Friday fell 181.31 points or 0.68 per cent to end at 26,656.83 as quarterly results from L&T and ITC disappointed while traders cautiously eyed the Bihar state elections as a win for the BJP party could help Narendra Modi’s efforts to control the Upper House of Parliament and get key economic reforms bills passed.
Asian stocks fell amid worries over the health of the Chinese economy. China’s Shanghai Composite was trading lower after China’s official factory PMI contracted in October, coming in at 49.8, unchanged from September, with a reading below 50 signaling contraction. Hang Seng was trading lower while Japan’s Nikkei 225 plunged nearly 2 per cent as a stronger yen curbed the appeal of exporter stocks as the Bank of Japan refrained from fresh stimulus on Friday. Wall Street ended lower on Friday, trimming the strongest monthly gain since 2011 as tepid earnings numbers and a smaller than expected rise in US consumer spending and household sentiment weighed
