Pre Market Report- Gap up opening seen for Sensex amid global rebound:29/06/2016
www.rupeedesk.in
Indian equity benchmarks are likely to witness a positive opening on Wednesday tracking a rally across markets in Asia and a bullish finish at Wall Street overnight as speculation heightened that global policymakers may boost stimulus to contain the economic fallout of Britain’s stunning decision last week to leave the EU, helping quell market turmoil, bolstering risk taking appetite. Gains in the CNX Nifty Index Futures for June delivery which climbed by 0.29 per cent or by 23.5 points to 8,155 at 10:43 AM Singapore time signal that Dalal Street may open higher today. Hopes that the GST will be passed in the upcoming monsoon session of the Parliament may also support sentiment. However, volatility may remain high at local bourses as traders roll over their positions ahead of the expiry of the June Futures & Options (F&O) contracts this Thursday. Rebounding from its biggest loss in over four months, the 30-share Sensex, on Tuesday logged modest gains, advancing by 121.59 points or by 0.46 per cent to end at 26,524.55 even as Brexit continued to weigh on sentiment.
Asian stocks rose on hopes that policymakers across the globe may introduce measures to blunt the impact of Brexit on the world economy. Federal Reserve Governor Jerome Powell stressed that global risks have tilted further to the downside following the Brexit verdict, raising more uncertainties that warrant reassessing of monetary policy. Japan’s Prime Minister Shinzo Abe assured that he will mobilize all possible measures, pushing up the Nikkei by over 1 per cent, while the Shanghai Composite and Hang Seng also climbed. Wall Street jumped the most in nearly four months, marking the first advance since Britain voted to exit the EU amid hopes that policymakers may help contain the fallout of Brexit.
www.rupeedesk.in
Indian equity benchmarks are likely to witness a positive opening on Wednesday tracking a rally across markets in Asia and a bullish finish at Wall Street overnight as speculation heightened that global policymakers may boost stimulus to contain the economic fallout of Britain’s stunning decision last week to leave the EU, helping quell market turmoil, bolstering risk taking appetite. Gains in the CNX Nifty Index Futures for June delivery which climbed by 0.29 per cent or by 23.5 points to 8,155 at 10:43 AM Singapore time signal that Dalal Street may open higher today. Hopes that the GST will be passed in the upcoming monsoon session of the Parliament may also support sentiment. However, volatility may remain high at local bourses as traders roll over their positions ahead of the expiry of the June Futures & Options (F&O) contracts this Thursday. Rebounding from its biggest loss in over four months, the 30-share Sensex, on Tuesday logged modest gains, advancing by 121.59 points or by 0.46 per cent to end at 26,524.55 even as Brexit continued to weigh on sentiment.
Asian stocks rose on hopes that policymakers across the globe may introduce measures to blunt the impact of Brexit on the world economy. Federal Reserve Governor Jerome Powell stressed that global risks have tilted further to the downside following the Brexit verdict, raising more uncertainties that warrant reassessing of monetary policy. Japan’s Prime Minister Shinzo Abe assured that he will mobilize all possible measures, pushing up the Nikkei by over 1 per cent, while the Shanghai Composite and Hang Seng also climbed. Wall Street jumped the most in nearly four months, marking the first advance since Britain voted to exit the EU amid hopes that policymakers may help contain the fallout of Brexit.
