Pre Session-Flattish opening on the cards for Sensex; Budget Session eyed
22/02/2016
Indian equity benchmarks are likely to open tad lower on Monday as traders stay on the sidelines ahead of key events this week i.e. the presentation of the Railway Budget and Economic Survey. The CNX Nifty Index futures for February delivery was trading down by 0.04 per cent or by 3 points at 7,197 at 10:18 am Singapore time, signaling that the Sensex may open flat, with a negative bias today. Volatility may remain high on the local bourses this week as traders roll over their positions ahead of the expiry of the February derivatives contracts on Thursday while focus will be on the start of the Union Budget session on Tuesday and presentation of the General Budget on February 29, Monday, with traders hopeful of more reform measures from the NDA government. Trend in global markets, crude oil prices and the movement of the rupee against the dollar will also influence sentiment at Dalal Street. Marking a third straight rally, the 30-share Sensex, on Friday rallied 59.93 points or by 0.25 per cent to end at 23,709.15 led by gains in shares of PSU banks and as Moody’s stressed that India’s economy is less exposed to external headwinds, and is expected to expand 7.5 per cent for the next two years.
Asian stocks rallied on Monday as a weaker yen bolstered markets in Japan while China replaced the head of its securities regulator, underpinning confidence in the country’s equities. China’s Shanghai Composite and Hang Seng advanced over 1 per cent each amid speculation that a new regulator for the China securities market may help boost the Chinese equity market. Xiao Gang’s removal from the head of the China Securities Regulatory Commission is in response to the mishandling of China’s January’s market rout, which tarnished confidence in the authorities and rocked global trading. Japan’s Nikkei 225 advanced as a weaker yen bolstered the lure for exporter stocks. Wall Street closed little changed on Friday, marking the biggest weekly rally since November led by gains in shares of technology and consumer shares, offsetting a drop in oil prices. The Dow Jones Industrial Average fell 0.13 per cent; the Nasdaq Composite advanced 0.38 per cent while S&P 500 closed unchanged.
22/02/2016
Indian equity benchmarks are likely to open tad lower on Monday as traders stay on the sidelines ahead of key events this week i.e. the presentation of the Railway Budget and Economic Survey. The CNX Nifty Index futures for February delivery was trading down by 0.04 per cent or by 3 points at 7,197 at 10:18 am Singapore time, signaling that the Sensex may open flat, with a negative bias today. Volatility may remain high on the local bourses this week as traders roll over their positions ahead of the expiry of the February derivatives contracts on Thursday while focus will be on the start of the Union Budget session on Tuesday and presentation of the General Budget on February 29, Monday, with traders hopeful of more reform measures from the NDA government. Trend in global markets, crude oil prices and the movement of the rupee against the dollar will also influence sentiment at Dalal Street. Marking a third straight rally, the 30-share Sensex, on Friday rallied 59.93 points or by 0.25 per cent to end at 23,709.15 led by gains in shares of PSU banks and as Moody’s stressed that India’s economy is less exposed to external headwinds, and is expected to expand 7.5 per cent for the next two years.
Asian stocks rallied on Monday as a weaker yen bolstered markets in Japan while China replaced the head of its securities regulator, underpinning confidence in the country’s equities. China’s Shanghai Composite and Hang Seng advanced over 1 per cent each amid speculation that a new regulator for the China securities market may help boost the Chinese equity market. Xiao Gang’s removal from the head of the China Securities Regulatory Commission is in response to the mishandling of China’s January’s market rout, which tarnished confidence in the authorities and rocked global trading. Japan’s Nikkei 225 advanced as a weaker yen bolstered the lure for exporter stocks. Wall Street closed little changed on Friday, marking the biggest weekly rally since November led by gains in shares of technology and consumer shares, offsetting a drop in oil prices. The Dow Jones Industrial Average fell 0.13 per cent; the Nasdaq Composite advanced 0.38 per cent while S&P 500 closed unchanged.