Pre Session: Sensex seen opening flat on weak global cues; oil cos in focus
16/06/2016
Indian benchmark indices are likely to open flat on Thursday tracking muted cues from Asian peers after the Federal Reserve Chair Janet Yellen refrained from hiking interest rates citing concerns over UK’s upcoming referendum on exiting the European Union. The caution may prevail ahead of policy decision by the Bank of Japan (BoJ) and Bank of England (BoE). Losses in the CNX Nifty Index Futures for June delivery which rose by 0.5 points to 8,212.50 at 10:34 AM Singapore time also signal that Dalal Street may open flat today. Oil companies will remain in focus after petrol price was hiked by 5 paise a litre and diesel by Rs 1.26 a litre on Wednesday.
On Wednesday, the Indian benchmark indices rebounded strongly amid value buying by investors tracking firm cues from other Asian markets. Support also came with recovery in rupee and Cabinet approval to new civil aviation policy and merger of five associaties with SBI. However, uncertainty over Fed decision on interest rates and the Bank of Japan’s policy decision capped upmove. The BSE SENSEX closed at 26726.34, up by 330.63 points, or by 1.25 per cent, and the NSE Nifty ended at 8206.6, up by 97.75 points, or by 1.21 per cent.
On the global front, most of the Asian markets were bleeding in red tracking bearish closing of Wall Street in overnight trade after Federal Reserve Chair Janet Yellen raised concerns over UK’s upcoming referendum on exiting the EU. However in a little respite to market, the US Fed refrained from hiking interest rates citing relatively loose liquidity conditions over the short term. All the three major Asian stocks, China’s Shanghai Composite, Japan’s Nikkei 225 and Hong Kong’s Hang Sang were trading in red amid fear that Britain may vote to leave the European Union. In the overnight trade, Wall Street ended lower as caution prevailed ahead of the UK’s upcoming referendum on exiting the EU
16/06/2016
Indian benchmark indices are likely to open flat on Thursday tracking muted cues from Asian peers after the Federal Reserve Chair Janet Yellen refrained from hiking interest rates citing concerns over UK’s upcoming referendum on exiting the European Union. The caution may prevail ahead of policy decision by the Bank of Japan (BoJ) and Bank of England (BoE). Losses in the CNX Nifty Index Futures for June delivery which rose by 0.5 points to 8,212.50 at 10:34 AM Singapore time also signal that Dalal Street may open flat today. Oil companies will remain in focus after petrol price was hiked by 5 paise a litre and diesel by Rs 1.26 a litre on Wednesday.
On Wednesday, the Indian benchmark indices rebounded strongly amid value buying by investors tracking firm cues from other Asian markets. Support also came with recovery in rupee and Cabinet approval to new civil aviation policy and merger of five associaties with SBI. However, uncertainty over Fed decision on interest rates and the Bank of Japan’s policy decision capped upmove. The BSE SENSEX closed at 26726.34, up by 330.63 points, or by 1.25 per cent, and the NSE Nifty ended at 8206.6, up by 97.75 points, or by 1.21 per cent.
On the global front, most of the Asian markets were bleeding in red tracking bearish closing of Wall Street in overnight trade after Federal Reserve Chair Janet Yellen raised concerns over UK’s upcoming referendum on exiting the EU. However in a little respite to market, the US Fed refrained from hiking interest rates citing relatively loose liquidity conditions over the short term. All the three major Asian stocks, China’s Shanghai Composite, Japan’s Nikkei 225 and Hong Kong’s Hang Sang were trading in red amid fear that Britain may vote to leave the European Union. In the overnight trade, Wall Street ended lower as caution prevailed ahead of the UK’s upcoming referendum on exiting the EU
