Pre Session- Gap down opening seen for Sensex amid Asia weakness
28/06/2016
Indian equity benchmarks are likely to witness a gap down opening on Tuesday tracking a bearish trend across Asia and a sell-off at Wall Street overnight as fears surrounding the Brexit fallout continued to unnerve traders, curbing risk taking appetite. Losses in the CNX Nifty Index Futures for June delivery which fell by 0.24 per cent or by 19 points to 8,061 at 10:27 AM Singapore time signal that Dalal Street may open lower today. Britain’s stunning vote to exit the European Union has cast a major shadow over the global economic recovery, catching investors off guard who are shunning risky assets and flocking to safe haven assets to take cover. Volatility may remain high at domestic bourses amidst heightened uncertainty in the wake of the Brexit aftermath and ahead of the June Futures & Options (F&O) contract expiry this week. However, progress of an extended monsoon by the Met Department may offer some support to domestic bourses. The 30-share Sensex on Monday ended little changed, up by 5.25 points or by 0.02 per cent to end at 26,402.96 as lingering concerns over Brexit remained.
Asian stocks fell on concerns that Britain’s decision to leave the European Union may slow global economic growth while speculation emerged that policymakers may shore up financial markets with investors awaiting signs from central banks to help quell market turmoil. China’s Shanghai Composite fell, Hang Seng plunged over 1 per cent and Japan’s Nikkei 225 was trading lower but losses were curbed by stimulus bets as Bank of Japan governor Haruhiko Kuroda met Prime Minister Shinzo Abe and other members of government to possibly discuss further policy easing measures to calm the market. US stocks extended a rout on Monday, as the Dow, Nasdaq and S&P succumbed to hefty losses with lenders suffering the biggest two-day sell-off in nearly five years as Brexit continued to roil sentiment.
28/06/2016
Indian equity benchmarks are likely to witness a gap down opening on Tuesday tracking a bearish trend across Asia and a sell-off at Wall Street overnight as fears surrounding the Brexit fallout continued to unnerve traders, curbing risk taking appetite. Losses in the CNX Nifty Index Futures for June delivery which fell by 0.24 per cent or by 19 points to 8,061 at 10:27 AM Singapore time signal that Dalal Street may open lower today. Britain’s stunning vote to exit the European Union has cast a major shadow over the global economic recovery, catching investors off guard who are shunning risky assets and flocking to safe haven assets to take cover. Volatility may remain high at domestic bourses amidst heightened uncertainty in the wake of the Brexit aftermath and ahead of the June Futures & Options (F&O) contract expiry this week. However, progress of an extended monsoon by the Met Department may offer some support to domestic bourses. The 30-share Sensex on Monday ended little changed, up by 5.25 points or by 0.02 per cent to end at 26,402.96 as lingering concerns over Brexit remained.
Asian stocks fell on concerns that Britain’s decision to leave the European Union may slow global economic growth while speculation emerged that policymakers may shore up financial markets with investors awaiting signs from central banks to help quell market turmoil. China’s Shanghai Composite fell, Hang Seng plunged over 1 per cent and Japan’s Nikkei 225 was trading lower but losses were curbed by stimulus bets as Bank of Japan governor Haruhiko Kuroda met Prime Minister Shinzo Abe and other members of government to possibly discuss further policy easing measures to calm the market. US stocks extended a rout on Monday, as the Dow, Nasdaq and S&P succumbed to hefty losses with lenders suffering the biggest two-day sell-off in nearly five years as Brexit continued to roil sentiment.
