Pre Session: Sensex seen opening flat on mixed global cues
22/03/2016
Indian equity benchmarks may open flat on Tuesday tracking a mixed trend in markets across Asia as a retreat in oil prices and volatility amid the holiday-shortened week weighed on sentiment, curbing risk taking appetite. Mixed trading the CNX Nifty Index futures for March delivery, which rose by 7.5 points at 7,718.50 at 10:33 am Singapore time, signal a subdued opening for the Sensex today. Volatility may remain high on the domestic bourses with traders likely to resort to profit taking after three straight week of gains and amidst caution ahead of the RBI monetary policy verdict early next month in which the central bank is likely to oblige with a 25 bps interest rate cut to help buoy demand and revive flagging investments in Asia’s third biggest economy. Dalal Street will be closed on Thursday and Friday for Holi and Good Friday, respectively. Due to lack of any major domestic trigger or macroeconomic data, movement in the domestic stock markets this week is likely to be dictated by foreign investment trend and global market sentiment.
Kicking off a new week on a bullish note, Indian equity benchmarks jumped by more than 1 per cent on Monday with the Sensex soaring by over 300 points and the Nifty surpassing the psychological level of 7,700 as the government’s decision to cut interest rates on small savings further bolstered speculation of a rate cut by the Reserve Bank of India (RBI) at its upcoming policy meet on April 5.
Marking a second straight rally, the 30-share Sensex jumped by 332.63 points or by 1.33 per cent to end at 25,285.37, while the Nifty closed at 7,704.25 up by 99.9 points or by 1.31 per cent. The BSE Sensex touched intraday high of 25,327.45 and intraday low of 24,988.27. The NSE Nifty touched intraday high of 7,713.55 and intraday low of 7,617.7.
On the global front, Asian stocks were trading mixed as a retreat in oil prices made investors cautious, but losses were minimized amid hopes that Chinese Central Bank may slash interest rates again as pressure on the yuan eases. China’s Shanghai Composite and Hang Sang logged with modest losses, while Japan’s Nikkei 225 rose over 2 per cent.
Wall Street ended higher in a volatile trading session on Monday as trader refrained to make big bets at the start of a holiday-shortened trading week. However, market sentiment got a lift after the Fed suggested a more dovish path to further rate hikes coupled with ease in crude supply glut. The Dow Jones Industrial Average climbed 0.1 per cent, rising for a seventh consecutive session. The Nasdaq Composite advanced 0.3 per cent while S&P 500 rose 0.1 per cent.
22/03/2016
Indian equity benchmarks may open flat on Tuesday tracking a mixed trend in markets across Asia as a retreat in oil prices and volatility amid the holiday-shortened week weighed on sentiment, curbing risk taking appetite. Mixed trading the CNX Nifty Index futures for March delivery, which rose by 7.5 points at 7,718.50 at 10:33 am Singapore time, signal a subdued opening for the Sensex today. Volatility may remain high on the domestic bourses with traders likely to resort to profit taking after three straight week of gains and amidst caution ahead of the RBI monetary policy verdict early next month in which the central bank is likely to oblige with a 25 bps interest rate cut to help buoy demand and revive flagging investments in Asia’s third biggest economy. Dalal Street will be closed on Thursday and Friday for Holi and Good Friday, respectively. Due to lack of any major domestic trigger or macroeconomic data, movement in the domestic stock markets this week is likely to be dictated by foreign investment trend and global market sentiment.
Kicking off a new week on a bullish note, Indian equity benchmarks jumped by more than 1 per cent on Monday with the Sensex soaring by over 300 points and the Nifty surpassing the psychological level of 7,700 as the government’s decision to cut interest rates on small savings further bolstered speculation of a rate cut by the Reserve Bank of India (RBI) at its upcoming policy meet on April 5.
Marking a second straight rally, the 30-share Sensex jumped by 332.63 points or by 1.33 per cent to end at 25,285.37, while the Nifty closed at 7,704.25 up by 99.9 points or by 1.31 per cent. The BSE Sensex touched intraday high of 25,327.45 and intraday low of 24,988.27. The NSE Nifty touched intraday high of 7,713.55 and intraday low of 7,617.7.
On the global front, Asian stocks were trading mixed as a retreat in oil prices made investors cautious, but losses were minimized amid hopes that Chinese Central Bank may slash interest rates again as pressure on the yuan eases. China’s Shanghai Composite and Hang Sang logged with modest losses, while Japan’s Nikkei 225 rose over 2 per cent.
Wall Street ended higher in a volatile trading session on Monday as trader refrained to make big bets at the start of a holiday-shortened trading week. However, market sentiment got a lift after the Fed suggested a more dovish path to further rate hikes coupled with ease in crude supply glut. The Dow Jones Industrial Average climbed 0.1 per cent, rising for a seventh consecutive session. The Nasdaq Composite advanced 0.3 per cent while S&P 500 rose 0.1 per cent.
