Pre Market Report-Flattish opening seen for D-Street; Q1 earnings to remain in focus
25/07/2016
Indian equity benchmarks may open little changed on Monday as traders resort to a cautious approach ahead of the next batch of quarterly earnings from blue chips which may offer fresh cues over the health of Asia’s third biggest economy. The CNX Nifty Index Futures for July delivery were trading at 8,560, up by 0.04 per cent or by 3 points at 10:23 AM Singapore time, signaling that Dalal Street may see little movement at opening bell today. This week will see April-June earnings numbers from the likes of ICICI Bank, HDFC Bank, Maruti Suzuki, Dr Reddy's Lab, ACC, Bajaj Auto and Larsen & Toubro. Meanwhile, the progress of the monsoon and developments surrounding the crucial GST bill in the ongoing monsoon session of the Parliament, coupled with trend in global financial markets are also likely to guide local bourses this week. A clearance of the long pending GST bill and continued strong progress of the monsoon will bolster investor sentiment at Dalal Street. Volatility may remain high at domestic indices as traders roll over their positions ahead of the July futures & options (F&O) contracts’ expiry this week. The 30-share Sensex ended 33.26 points lower last week at 27,803.24, in choppy trade.
Most Asian stocks rallied today tracking a record high finish at Wall Street on Friday as investors eyed key central bank meetings in the US and Japan which may dictate the outlook for the global economy. The Bank of Japan is likely to bolster stimulus this week while the US Federal Reserve is likely to stay put on key interest rates, as global central banks act in a bid to cushion the impact of the Brexit vote on economic growth. China’s Shanghai Composite rose, Hang Seng fell while Japan’s Nikkei 225 climbed as a weaker yen bolstered the appeal of exporter stocks, overshadowing a ninth straight drop in Japanese exports in June. US stocks marked a four-week rally, sending benchmark S&P 500 to a fresh high amid earnings optimism and acceleration in US manufacturing which bolstered the outlook for the world’s biggest economy. A gauge measuring US manufacturing climbed to 52.9 in July, up from 51.3 in June, with a reading above 50 signaling expansion, Markit said.
25/07/2016
Indian equity benchmarks may open little changed on Monday as traders resort to a cautious approach ahead of the next batch of quarterly earnings from blue chips which may offer fresh cues over the health of Asia’s third biggest economy. The CNX Nifty Index Futures for July delivery were trading at 8,560, up by 0.04 per cent or by 3 points at 10:23 AM Singapore time, signaling that Dalal Street may see little movement at opening bell today. This week will see April-June earnings numbers from the likes of ICICI Bank, HDFC Bank, Maruti Suzuki, Dr Reddy's Lab, ACC, Bajaj Auto and Larsen & Toubro. Meanwhile, the progress of the monsoon and developments surrounding the crucial GST bill in the ongoing monsoon session of the Parliament, coupled with trend in global financial markets are also likely to guide local bourses this week. A clearance of the long pending GST bill and continued strong progress of the monsoon will bolster investor sentiment at Dalal Street. Volatility may remain high at domestic indices as traders roll over their positions ahead of the July futures & options (F&O) contracts’ expiry this week. The 30-share Sensex ended 33.26 points lower last week at 27,803.24, in choppy trade.
Most Asian stocks rallied today tracking a record high finish at Wall Street on Friday as investors eyed key central bank meetings in the US and Japan which may dictate the outlook for the global economy. The Bank of Japan is likely to bolster stimulus this week while the US Federal Reserve is likely to stay put on key interest rates, as global central banks act in a bid to cushion the impact of the Brexit vote on economic growth. China’s Shanghai Composite rose, Hang Seng fell while Japan’s Nikkei 225 climbed as a weaker yen bolstered the appeal of exporter stocks, overshadowing a ninth straight drop in Japanese exports in June. US stocks marked a four-week rally, sending benchmark S&P 500 to a fresh high amid earnings optimism and acceleration in US manufacturing which bolstered the outlook for the world’s biggest economy. A gauge measuring US manufacturing climbed to 52.9 in July, up from 51.3 in June, with a reading above 50 signaling expansion, Markit said.
