Pre Session-Bullish opening on the cards for Sensex on global rally
11/07/2016
Indian equity benchmarks are poised to witness a significant gap up opening on Monday amid a surge in markets across Asia as traders cheer the upbeat US June jobs data which signaled a solid recovery in the world’s biggest economy, bolstering risk taking appetite. American employers bolstered headcounts by the most since October in June as payrolls rose by a whopping 287,000. A jump in the CNX Nifty Index Futures for July delivery, which climbed by 1.12 per cent or by 94.5 points to 8,429.5 at 10:26 AM Singapore time, signal that Dalal Street may open higher today. The focus this week for D-Street investors will be on the June inflation and May industrial output data, Q1 earnings numbers from software majors Infosys and TCS and the progress of the monsoon rains, which will offer further cues over the health of Asia’s third biggest economy. May industrial output data and June inflation numbers are set for release on Tuesday. India’s industrial output shrank 0.8 per cent in April 2016, year-on-year while consumer inflation had spiked to a 19-month high of 5.76 per cent in May 2016. Caution gripped local bourses on Friday as the 30-share Sensex fell 74.59 points or by 0.27 per cent to end at 27,126.9 as traders looked ahead to the US jobs data.
Asian stocks soared today tracking a near record finish at Wall Street on Friday as better-than-expected US June payrolls numbers signaled evidence that the US job market recovery remains firmly on track, a good omen for the country’s economy. Investors are betting on strong US economic growth to help counter concerns over Europe’s economy in the aftermath of Brexit. A 287,000 addition to headcount in June was in sharp contrast to a downwardly revised 11,000 gain in May. Traders were expecting an 180,000 gain in US jobs in June. China’s Shanghai Composite advanced, Hang Seng spiked over 1.6 per cent and Japan’s Nikkei 225 soared by over 3.5 per cent as Japanese elections signaled a convincing win for the ruling parties with focus now turning to Prime Minister Shinzo Abe’s plans to unleash more fiscal stimulus. US stocks surged on Friday with benchmark S&P 500 closing just shy of a record as June jobs data played down concerns over the health of the American economy.
11/07/2016
Indian equity benchmarks are poised to witness a significant gap up opening on Monday amid a surge in markets across Asia as traders cheer the upbeat US June jobs data which signaled a solid recovery in the world’s biggest economy, bolstering risk taking appetite. American employers bolstered headcounts by the most since October in June as payrolls rose by a whopping 287,000. A jump in the CNX Nifty Index Futures for July delivery, which climbed by 1.12 per cent or by 94.5 points to 8,429.5 at 10:26 AM Singapore time, signal that Dalal Street may open higher today. The focus this week for D-Street investors will be on the June inflation and May industrial output data, Q1 earnings numbers from software majors Infosys and TCS and the progress of the monsoon rains, which will offer further cues over the health of Asia’s third biggest economy. May industrial output data and June inflation numbers are set for release on Tuesday. India’s industrial output shrank 0.8 per cent in April 2016, year-on-year while consumer inflation had spiked to a 19-month high of 5.76 per cent in May 2016. Caution gripped local bourses on Friday as the 30-share Sensex fell 74.59 points or by 0.27 per cent to end at 27,126.9 as traders looked ahead to the US jobs data.
Asian stocks soared today tracking a near record finish at Wall Street on Friday as better-than-expected US June payrolls numbers signaled evidence that the US job market recovery remains firmly on track, a good omen for the country’s economy. Investors are betting on strong US economic growth to help counter concerns over Europe’s economy in the aftermath of Brexit. A 287,000 addition to headcount in June was in sharp contrast to a downwardly revised 11,000 gain in May. Traders were expecting an 180,000 gain in US jobs in June. China’s Shanghai Composite advanced, Hang Seng spiked over 1.6 per cent and Japan’s Nikkei 225 soared by over 3.5 per cent as Japanese elections signaled a convincing win for the ruling parties with focus now turning to Prime Minister Shinzo Abe’s plans to unleash more fiscal stimulus. US stocks surged on Friday with benchmark S&P 500 closing just shy of a record as June jobs data played down concerns over the health of the American economy.
