Pre Session- Bulls may continue to rule the roost at Dalal Street
10/03/2016
Indian equity benchmarks are poised to witness a gap up opening on Thursday tracking a mostly bullish trend across markets in Asia and a positive finish at Wall Street overnight as investors bet that central banks may continue to inject additional stimulus to help prop up the global economic recovery, bolstering risk taking appetite. Gains in the CNX Nifty Index futures for March delivery, which climbed by 0.31 per cent or by 23.5 points at 7,557.5 at 10:24 am Singapore time, signal that Dalal Street may open higher today. Foreign funds have renewed their love affair with India, providing impetus to the current rally amid speculation of a near-term interest rate cut by the RBI after the government vowed to stick to its fiscal deficit targets. Caution ahead of January IIP data due on Friday, which may offer fresh cues over the health of Asia’s third biggest economy, may restrict gains at local bourses. India’s industrial output probably contracted for a third month on the trot, shrinking 0.5 per cent in January 2016 from the same month a year ago, analysts estimated. Marking a sixth straight rally, the 30-share Sensex on Wednesday advanced 134.73 points or 0.55 per cent to end at 24,793.96 as the centre’s fiscal prudence continued to boost optimism of further policy easing by the RBI.
Most Asian markets rallied today ahead of the policy meeting of the European Central Bank (ECB) in which it may unveil fresh steps to boost growth in the 19-member Euro area economy by way of additional monetary stimulus. Traders are also awaiting next week’s US Federal Reserve meeting which may offer cues over the trajectory of interest rates in the world’s biggest economy. China’s Shanghai Composite fell after data showed that consumer inflation accelerated to 2.3 per cent in February 2016 from 1.8 per cent in January 2016. Hang Seng rose and Japan’s Nikkei 225 rallied close to 1 per cent as a weaker yen bolstered the lure for exporter stocks. Wall Street rallied on Wednesday on hopes of central bank support to lift sluggish global economic growth. The Dow Jones Industrial Average climbed 0.21 per cent; the Nasdaq Composite advanced 0.55 per cent while S&P 500 rose by 0.51 per cent.
10/03/2016
Indian equity benchmarks are poised to witness a gap up opening on Thursday tracking a mostly bullish trend across markets in Asia and a positive finish at Wall Street overnight as investors bet that central banks may continue to inject additional stimulus to help prop up the global economic recovery, bolstering risk taking appetite. Gains in the CNX Nifty Index futures for March delivery, which climbed by 0.31 per cent or by 23.5 points at 7,557.5 at 10:24 am Singapore time, signal that Dalal Street may open higher today. Foreign funds have renewed their love affair with India, providing impetus to the current rally amid speculation of a near-term interest rate cut by the RBI after the government vowed to stick to its fiscal deficit targets. Caution ahead of January IIP data due on Friday, which may offer fresh cues over the health of Asia’s third biggest economy, may restrict gains at local bourses. India’s industrial output probably contracted for a third month on the trot, shrinking 0.5 per cent in January 2016 from the same month a year ago, analysts estimated. Marking a sixth straight rally, the 30-share Sensex on Wednesday advanced 134.73 points or 0.55 per cent to end at 24,793.96 as the centre’s fiscal prudence continued to boost optimism of further policy easing by the RBI.
Most Asian markets rallied today ahead of the policy meeting of the European Central Bank (ECB) in which it may unveil fresh steps to boost growth in the 19-member Euro area economy by way of additional monetary stimulus. Traders are also awaiting next week’s US Federal Reserve meeting which may offer cues over the trajectory of interest rates in the world’s biggest economy. China’s Shanghai Composite fell after data showed that consumer inflation accelerated to 2.3 per cent in February 2016 from 1.8 per cent in January 2016. Hang Seng rose and Japan’s Nikkei 225 rallied close to 1 per cent as a weaker yen bolstered the lure for exporter stocks. Wall Street rallied on Wednesday on hopes of central bank support to lift sluggish global economic growth. The Dow Jones Industrial Average climbed 0.21 per cent; the Nasdaq Composite advanced 0.55 per cent while S&P 500 rose by 0.51 per cent.
