Pre Session: Sensex seen opening flat on weak global cues
10/06/2016
Indian benchmark indices may open flat with positive bias on Friday tracking bearish cues from US and Asian stock as traders shifted their focus to safe-haven assets amid lingering concerns about UK referendum and US Fed decision. Gains in the CNX Nifty Index Futures for June delivery which advanced by 12.5 points to 8,237.50 at 10:34 AM Singapore time also signal that Dalal Street may open higher today. The focus of investors now turns to Friday’s industrial output data for April 2016 which may offer further cues over the health of the country’s economy. In March 2016, India’s industrial output climbed a miniscule 0.1 per cent, year on year.
On Thursday, the Indian benchmark indices posted their single-day fall in three weeks, led by sharp losses in IT, Teck and FMCG stocks, as investors took some breather ahead of the US Federal Reserve meeting next week and its impact on the Asia’s third largest economy. Investors also assessed the impact of India's monsoon which hit Kerala on Wednesday. The BSE SENSEX closed at 26763.46, down by 257.2 points, or by 0.95 per cent, and the NSE Nifty ended at 8203.6, down by 69.45 points, or by 0.84 per cent.
On the global front, Asian stocks were bleeding in the red as traders shifted their focus to safe-haven assets amid lingering concerns about UK referendum that could push Britain out of the European Union. All three of the Shanghai Composite, Hang Seng and Japan’s Nikkei 225 were trading in the red. Wall Street also ended lower as investors snapped bank and metal stocks, while declining oil prices and a firmer dollar also sparked profit-taking after three sessions of gains
10/06/2016
Indian benchmark indices may open flat with positive bias on Friday tracking bearish cues from US and Asian stock as traders shifted their focus to safe-haven assets amid lingering concerns about UK referendum and US Fed decision. Gains in the CNX Nifty Index Futures for June delivery which advanced by 12.5 points to 8,237.50 at 10:34 AM Singapore time also signal that Dalal Street may open higher today. The focus of investors now turns to Friday’s industrial output data for April 2016 which may offer further cues over the health of the country’s economy. In March 2016, India’s industrial output climbed a miniscule 0.1 per cent, year on year.
On Thursday, the Indian benchmark indices posted their single-day fall in three weeks, led by sharp losses in IT, Teck and FMCG stocks, as investors took some breather ahead of the US Federal Reserve meeting next week and its impact on the Asia’s third largest economy. Investors also assessed the impact of India's monsoon which hit Kerala on Wednesday. The BSE SENSEX closed at 26763.46, down by 257.2 points, or by 0.95 per cent, and the NSE Nifty ended at 8203.6, down by 69.45 points, or by 0.84 per cent.
On the global front, Asian stocks were bleeding in the red as traders shifted their focus to safe-haven assets amid lingering concerns about UK referendum that could push Britain out of the European Union. All three of the Shanghai Composite, Hang Seng and Japan’s Nikkei 225 were trading in the red. Wall Street also ended lower as investors snapped bank and metal stocks, while declining oil prices and a firmer dollar also sparked profit-taking after three sessions of gains
