Pre Session- Sensex to open tad lower on mixed corporate earnings
29/01/2016
The key domestic equity benchmarks are likely to open on a slightly negative note on Friday, the first day of the February Futures & Options (F&O) series. A mixed trend across markets in Asia as traders awaited the crucial Bank of Japan policy decision, coupled with slight weakness in the CNX Nifty Index futures for February delivery which fell by 0.09 per cent or 7 points at 7,424.5 at 10:48 am Singapore time signals that Dalal Street may open tad lower today. Traders will weigh a mixed bag of earnings from Sensex heavyweights with the Q3 numbers of ICICI Bank and Bharti Airtel missing analysts estimates. ICICI Bank, the country’s biggest private sector lender, in after market hours on Thursday said that its Q3 net profit rose by only 4.5 per cent, the slowest profit growth in six years as bad loans surged. The country’s largest telecom operator Bharti Airtel Ltd in after market hours on Thursday reported a fall of 22 per cent in its consolidated net profit, the first drop in profit in nine quarters. However, shares of carmaker Maruti Suzuki may see some buying momentum after the company in after market hours on Thursday posted a 27.1 per cent surge in net profit. Investors will focus on the December quarter earnings of L&T, Yes Bank, JSW Steel and NTPC to be unveiled today. On Wednesday, the 30-share Sensex ended lower by 22.82 points or by 0.09 per cent at 24,469.57 as traders rolled over their positions on the day of the January futures and options (F&O) contract expiry.
Asian stocks were trading mixed as Japanese shares fell amid caution ahead of the Bank of Japan’s monetary policy verdict with traders anticipating whether the central bank will expand already record- stimulus to help steer the world’s third biggest economy from the renewed threat of deflation, and prop up growth. China’s Shanghai Composite surged by almost 1.8 per cent, the first gain in four days as the worst rout since the global financial crisis seemed overdone. Hang Seng also climbed. Wall Street rallied handsomely on Thursday as oil extended a rebound while investors digested the earnings data from the likes of Facebook. Traders weighed mixed US economic data as durable goods orders fell 5.1 per cent in December, the most since August 2014, jobless claims declined by 16,000 to 278,000 last week and pending home sales rose 0.1 per cent in December. The Dow Jones Industrial Average climbed 0.79 per cent; the Nasdaq Composite rose 0.86 per cent while S&P 500 advanced 0.55 per cent.
29/01/2016
The key domestic equity benchmarks are likely to open on a slightly negative note on Friday, the first day of the February Futures & Options (F&O) series. A mixed trend across markets in Asia as traders awaited the crucial Bank of Japan policy decision, coupled with slight weakness in the CNX Nifty Index futures for February delivery which fell by 0.09 per cent or 7 points at 7,424.5 at 10:48 am Singapore time signals that Dalal Street may open tad lower today. Traders will weigh a mixed bag of earnings from Sensex heavyweights with the Q3 numbers of ICICI Bank and Bharti Airtel missing analysts estimates. ICICI Bank, the country’s biggest private sector lender, in after market hours on Thursday said that its Q3 net profit rose by only 4.5 per cent, the slowest profit growth in six years as bad loans surged. The country’s largest telecom operator Bharti Airtel Ltd in after market hours on Thursday reported a fall of 22 per cent in its consolidated net profit, the first drop in profit in nine quarters. However, shares of carmaker Maruti Suzuki may see some buying momentum after the company in after market hours on Thursday posted a 27.1 per cent surge in net profit. Investors will focus on the December quarter earnings of L&T, Yes Bank, JSW Steel and NTPC to be unveiled today. On Wednesday, the 30-share Sensex ended lower by 22.82 points or by 0.09 per cent at 24,469.57 as traders rolled over their positions on the day of the January futures and options (F&O) contract expiry.
Asian stocks were trading mixed as Japanese shares fell amid caution ahead of the Bank of Japan’s monetary policy verdict with traders anticipating whether the central bank will expand already record- stimulus to help steer the world’s third biggest economy from the renewed threat of deflation, and prop up growth. China’s Shanghai Composite surged by almost 1.8 per cent, the first gain in four days as the worst rout since the global financial crisis seemed overdone. Hang Seng also climbed. Wall Street rallied handsomely on Thursday as oil extended a rebound while investors digested the earnings data from the likes of Facebook. Traders weighed mixed US economic data as durable goods orders fell 5.1 per cent in December, the most since August 2014, jobless claims declined by 16,000 to 278,000 last week and pending home sales rose 0.1 per cent in December. The Dow Jones Industrial Average climbed 0.79 per cent; the Nasdaq Composite rose 0.86 per cent while S&P 500 advanced 0.55 per cent.
