Pre Session- Bulls may remain in charge at Dalal Street
03/03/2016
Indian equity benchmarks are likely to witness a gap up opening on Thursday tracking a mostly firm trend across markets in Asia and a bullish finish at Wall Street overnight as upbeat US private jobs data signaled strength in the world’s biggest economy, bolstering risk taking appetite. A recovery in oil prices and prospects for further economic stimulus for China has also helped fuel a global stock market rally. Strength in the CNX Nifty Index futures for March delivery which climbed by 0.71 per cent or by 53 points at 7,414 at 10:30 am Singapore time, signals that Dalal Street may open higher today. The focus today will be on the Indian Services PMI data for the month of February which will offer fresh cues over the health of Asia’s third biggest economy. Rising speculation that the RBI may cut interest rates in the near-term after progress achieved on the fiscal consolidation front by the NDA government may continue to support local bourses. Marking the biggest two-day gain since May 2014, the 30-share Sensex on Wednesday jumped by 463.63 points or by 1.95 per cent to end at 24,242.98 driven by a rally in shares of PSU lenders after the RBI eased rules allowing them to bolster capital ratios.
Most Asian stocks advanced, rising to an eight-week high on Thursday, buoyed by a rally at Wall Street on Wednesday, rising oil prices and expectations that China may bolster stimulus to help spur a rebound in the world’s second biggest economy. China’s Shanghai Composite rose driven by a rally in property developers and commodity producers, overshadowing data underlining further softness in the country’s economy as the China Services PMI fell to 51.2 in February from 52.4 in January, with a reading above 50 signaling expansion. Hang Seng succumbed to modest losses but Japan’s Nikkei 225 rallied 1 per cent as a weaker yen bolstered the lure for exporter stocks. US stocks rallied on Wednesday as strong jobs data signaled that the American economy was withstanding the ongoing global financial volatility. Private payrolls in the US rose 214,000 in February, up from a revised 193,000 in January. The Dow Jones Industrial Average rallied 0.20 per cent; the Nasdaq Composite advanced 0.29 per cent while S&P 500 climbed 0.41 per cent.
03/03/2016
Indian equity benchmarks are likely to witness a gap up opening on Thursday tracking a mostly firm trend across markets in Asia and a bullish finish at Wall Street overnight as upbeat US private jobs data signaled strength in the world’s biggest economy, bolstering risk taking appetite. A recovery in oil prices and prospects for further economic stimulus for China has also helped fuel a global stock market rally. Strength in the CNX Nifty Index futures for March delivery which climbed by 0.71 per cent or by 53 points at 7,414 at 10:30 am Singapore time, signals that Dalal Street may open higher today. The focus today will be on the Indian Services PMI data for the month of February which will offer fresh cues over the health of Asia’s third biggest economy. Rising speculation that the RBI may cut interest rates in the near-term after progress achieved on the fiscal consolidation front by the NDA government may continue to support local bourses. Marking the biggest two-day gain since May 2014, the 30-share Sensex on Wednesday jumped by 463.63 points or by 1.95 per cent to end at 24,242.98 driven by a rally in shares of PSU lenders after the RBI eased rules allowing them to bolster capital ratios.
Most Asian stocks advanced, rising to an eight-week high on Thursday, buoyed by a rally at Wall Street on Wednesday, rising oil prices and expectations that China may bolster stimulus to help spur a rebound in the world’s second biggest economy. China’s Shanghai Composite rose driven by a rally in property developers and commodity producers, overshadowing data underlining further softness in the country’s economy as the China Services PMI fell to 51.2 in February from 52.4 in January, with a reading above 50 signaling expansion. Hang Seng succumbed to modest losses but Japan’s Nikkei 225 rallied 1 per cent as a weaker yen bolstered the lure for exporter stocks. US stocks rallied on Wednesday as strong jobs data signaled that the American economy was withstanding the ongoing global financial volatility. Private payrolls in the US rose 214,000 in February, up from a revised 193,000 in January. The Dow Jones Industrial Average rallied 0.20 per cent; the Nasdaq Composite advanced 0.29 per cent while S&P 500 climbed 0.41 per cent.
