Pre Session: Dalal Street likely to open lower on weak data, global concerns
13/06/2016
Indian benchmark indices are likely to kick-off week on bearish note on Monday tracking weak cues from US and Asian stock amid lingering concerns about UK referendum and US Fed decision. Slower-than-expected growth in factory output numbers released post market hours of Friday may also weigh on market sentiments. Losses in the CNX Nifty Index Futures for June delivery which declined by 81 points to 8,116 at 10:34 AM Singapore time also signal that Dalal Street may open lower today. The Index of Industrial Production (IIP) data for the month of April came in at a disappointing (-) 0.8 per cent, dragged down primarily by the manufacturing sector, which contracted by 3.1 per cent over the same month in 2015.
On Friday, the Indian benchmark indices extended their loosing spree led by sharp losses in realty and auto stocks as caution prevailed in the market ahead of IIP data for April which is scheduled to be released later in the day. Investors also maintained cautious amid lingering concerns about UK referendum and US Fed decision. The BSE SENSEX closed at 26635.75, down by 127.71 points or by 0.48 per cent, and the NSE Nifty ended at 8170.05, down by 33.55 points or by 0.41 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. While Chinese data on factory output and retail sales followed by US and Japanese central bank meeting lined up this week also dimmed appetite for risker assets. All three of the Shanghai Composite, Hang Seng and Japan’s Nikkei 225 were trading in the negative terrain with Nikkei 225 tumbling nearly 3 per cent as the bond yield hit a record low. Wall Street also ended lower for second day on Friday as investors snapped bank and technology stocks, while falling bond yield also weighed on market sentiments
13/06/2016
Indian benchmark indices are likely to kick-off week on bearish note on Monday tracking weak cues from US and Asian stock amid lingering concerns about UK referendum and US Fed decision. Slower-than-expected growth in factory output numbers released post market hours of Friday may also weigh on market sentiments. Losses in the CNX Nifty Index Futures for June delivery which declined by 81 points to 8,116 at 10:34 AM Singapore time also signal that Dalal Street may open lower today. The Index of Industrial Production (IIP) data for the month of April came in at a disappointing (-) 0.8 per cent, dragged down primarily by the manufacturing sector, which contracted by 3.1 per cent over the same month in 2015.
On Friday, the Indian benchmark indices extended their loosing spree led by sharp losses in realty and auto stocks as caution prevailed in the market ahead of IIP data for April which is scheduled to be released later in the day. Investors also maintained cautious amid lingering concerns about UK referendum and US Fed decision. The BSE SENSEX closed at 26635.75, down by 127.71 points or by 0.48 per cent, and the NSE Nifty ended at 8170.05, down by 33.55 points or by 0.41 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. While Chinese data on factory output and retail sales followed by US and Japanese central bank meeting lined up this week also dimmed appetite for risker assets. All three of the Shanghai Composite, Hang Seng and Japan’s Nikkei 225 were trading in the negative terrain with Nikkei 225 tumbling nearly 3 per cent as the bond yield hit a record low. Wall Street also ended lower for second day on Friday as investors snapped bank and technology stocks, while falling bond yield also weighed on market sentiments
