Pre Session: Sensx may see tepid start amid oil price rout
18/12/2015
The Indian equity markets may see a flat opening on Friday, tracking subdued cues from Asian peers, after US stocks ended lower in overnight trade as oil rout pushed equities in red after strong rally on Wednesday. The domestic bourses may witness selling pressure as falling crude oil prices below USD 35 a barrel may result in fund outflows from emerging markets (EM) funds. With the much anticipated Fed liftoff left behind, the investors will shift their focus to domestic events such as GST rollout. If the GST get passed in the Parliament, it will be a huge positive for the market. The CNX Nifty Index futures for December delivery fell 45 points to 7815 at 10:24 am Singapore time, signaling a gap down opening for Dalal Street on Friday. Continuing its gaining streak for the fourth straight session, the Indian equities ended on strong note on Thursday, tracking firm cues from Asian peers, after the US Fed announced the historic interest-rate hike in almost a decade, signaling confidence that the economy is recovering sustainably. The 30-share BSE SENSEX closed at 25803.78, up by 309.41 points or by 1.21 per cent, and the NSE Nifty ended 93.45 points higher at 7844.35.
Globally, Asian stocks resumed its southward journey as focus shift to oil rout after the highly anticipated Fed rate cut announcement. Following the conclusion of the two-day policy meet, the US Fed on Wednesday raised the range of its benchmark interest rate to between 0.25 per cent and 0.50 per cent from the zero to 0.25 percent range, indicating healthy growth in the world’s largest economy. Snapping two-day climb, Hang Seng and Japan’s Nikkei 225 slipped in negative terrain, while China’s Shanghai Composite were trading in green with modest gain. US stocks ended lower in overnight trade, snapping three-day gain, as continued pressure on oil weighed on the energy sector, pushing equities lower. All the three major indices ended lower, with the Dow Jones Industrial Average declined 252.98 points, or 1.43 percent, to close at 17,496.11 and the S&P 500 ended 31.16 points, or 1.5 percent, lower at 2,041.91. In a similar trend, the Nasdaq Composite fell 68.58 points, or 1.35 percent, to 5,002.55.
18/12/2015
The Indian equity markets may see a flat opening on Friday, tracking subdued cues from Asian peers, after US stocks ended lower in overnight trade as oil rout pushed equities in red after strong rally on Wednesday. The domestic bourses may witness selling pressure as falling crude oil prices below USD 35 a barrel may result in fund outflows from emerging markets (EM) funds. With the much anticipated Fed liftoff left behind, the investors will shift their focus to domestic events such as GST rollout. If the GST get passed in the Parliament, it will be a huge positive for the market. The CNX Nifty Index futures for December delivery fell 45 points to 7815 at 10:24 am Singapore time, signaling a gap down opening for Dalal Street on Friday. Continuing its gaining streak for the fourth straight session, the Indian equities ended on strong note on Thursday, tracking firm cues from Asian peers, after the US Fed announced the historic interest-rate hike in almost a decade, signaling confidence that the economy is recovering sustainably. The 30-share BSE SENSEX closed at 25803.78, up by 309.41 points or by 1.21 per cent, and the NSE Nifty ended 93.45 points higher at 7844.35.
Globally, Asian stocks resumed its southward journey as focus shift to oil rout after the highly anticipated Fed rate cut announcement. Following the conclusion of the two-day policy meet, the US Fed on Wednesday raised the range of its benchmark interest rate to between 0.25 per cent and 0.50 per cent from the zero to 0.25 percent range, indicating healthy growth in the world’s largest economy. Snapping two-day climb, Hang Seng and Japan’s Nikkei 225 slipped in negative terrain, while China’s Shanghai Composite were trading in green with modest gain. US stocks ended lower in overnight trade, snapping three-day gain, as continued pressure on oil weighed on the energy sector, pushing equities lower. All the three major indices ended lower, with the Dow Jones Industrial Average declined 252.98 points, or 1.43 percent, to close at 17,496.11 and the S&P 500 ended 31.16 points, or 1.5 percent, lower at 2,041.91. In a similar trend, the Nasdaq Composite fell 68.58 points, or 1.35 percent, to 5,002.55.
