Pre Session- Sensex may open little changed amid lingering global growth fears
05/05/2016
The key Indian equity benchmarks are likely to open on a flattish note on Thursday as a bearish trend in stock markets across Asia and a negative finish at Wall Street overnight amidst heightened worries over the health of the world economy, keep Dalal Street traders on the sidelines. The CNX Nifty Index Futures for May delivery was trading little changed, up by 0.08 per cent or 6 points at 7,730 at 10:29 AM Singapore time, also signaling that Indian stocks may open on a flat note, with a positive bias today. The 30-share Sensex on Wednesday hit a fresh three-week low with foreign investors trimming their holdings of Indian stocks as concerns over a faltering global economic recovery and renewed prospects of a US interest rate hike in the near-term soured the appetite for risky assets. Marking a third straight day in the red, the Sensex slid by 127.97 points or by 0.51 per cent to end at 25,101.73 with shares of Adani Ports & Special Economic Zone tanking almost 12 per cent, the biggest slide since October 2008 after Citigroup Inc lowered the stock to neutral amid an increase in debt levels. The focus today will be on shares of Hero MotoCorp and Emami as they unveil their March quarter earnings numbers. Meanwhile, underwhelming recent economic data may also weigh on trading sentiment as April services growth cooled with the PMI falling to 53.7 from 54.3 in March even as it remained above the neutral 50-mark.
On the Asia front, China’s Shanghai Composite was trading tad lower while Hang Seng declined as traders continued to fret over global economic growth outlook amidst a mixed batch of US economic data. The private sector of the world’s biggest economy added fewer workers in April but services growth accelerated to a four-month high and March factory orders rebounded. China’s service gauge fell to 51.8 in April from 52.2 in March, signaling a slowdown in the sector, adding to concerns over the world’s second biggest economy. Japanese markets remained shut due to a trading holiday. Overnight, US stocks fell with benchmark S&P 500 languishing at a three-week low after a report showed that US private employers added 156,000 workers this month, against 194,000 in March
05/05/2016
The key Indian equity benchmarks are likely to open on a flattish note on Thursday as a bearish trend in stock markets across Asia and a negative finish at Wall Street overnight amidst heightened worries over the health of the world economy, keep Dalal Street traders on the sidelines. The CNX Nifty Index Futures for May delivery was trading little changed, up by 0.08 per cent or 6 points at 7,730 at 10:29 AM Singapore time, also signaling that Indian stocks may open on a flat note, with a positive bias today. The 30-share Sensex on Wednesday hit a fresh three-week low with foreign investors trimming their holdings of Indian stocks as concerns over a faltering global economic recovery and renewed prospects of a US interest rate hike in the near-term soured the appetite for risky assets. Marking a third straight day in the red, the Sensex slid by 127.97 points or by 0.51 per cent to end at 25,101.73 with shares of Adani Ports & Special Economic Zone tanking almost 12 per cent, the biggest slide since October 2008 after Citigroup Inc lowered the stock to neutral amid an increase in debt levels. The focus today will be on shares of Hero MotoCorp and Emami as they unveil their March quarter earnings numbers. Meanwhile, underwhelming recent economic data may also weigh on trading sentiment as April services growth cooled with the PMI falling to 53.7 from 54.3 in March even as it remained above the neutral 50-mark.
On the Asia front, China’s Shanghai Composite was trading tad lower while Hang Seng declined as traders continued to fret over global economic growth outlook amidst a mixed batch of US economic data. The private sector of the world’s biggest economy added fewer workers in April but services growth accelerated to a four-month high and March factory orders rebounded. China’s service gauge fell to 51.8 in April from 52.2 in March, signaling a slowdown in the sector, adding to concerns over the world’s second biggest economy. Japanese markets remained shut due to a trading holiday. Overnight, US stocks fell with benchmark S&P 500 languishing at a three-week low after a report showed that US private employers added 156,000 workers this month, against 194,000 in March
