Equity Pre Market Report- Sensex to open lower ahead of GST Rajya Sabha debut 03/08/2016

Pre Market Report- Sensex to open lower ahead of GST Rajya Sabha debut
03/08/2016

Indian equity benchmarks are likely to witness a gap down opening on Wednesday as a worsening sell-off in oil renewed concerns over the health of the global economy, hitting stock markets worldwide, souring risk taking appetite. Further, traders may err on the side of caution ahead of the tabling of the crucial GST bill in the Rajya Sabha on Wednesday, that could give way to the country’s biggest breakthrough fiscal reform and help bolster business sentiment and growth in Asia’s third biggest economy. Losses in the CNX Nifty Index Futures for August delivery which fell 0.35 per cent or 30 points at 8,630, at 10:29 AM Singapore time, signal that Dalal Street may open in the red today. Shares of HCL Technologies, Cadila Healthcare and Emami will be in focus today amid the announcement of their April-June 2016 quarter earnings numbers. Investors will also keep a watch on the India Services PMI set for release today which will offer further cues over the health of the country’s economy. In June, the services index fell to 50.3 from 51 in May, with growth in the sector slowing for a third straight month. A pickup in core sector growth in June to 5.2 per cent year-on-year, from May’s 2.8 per cent augurs well for the economy. Marking a third straight day in the red, the 30-share Sensex on Tuesday fell by 21.41 points or by 0.08 per cent to 27,981.71 amid GST caution.

Asian shares fell as oil’s renewed slide to below USD 40 per barrel signaled alarm bells over the health of the world economy while Japan’s stimulus package left investors disappointed. Shanghai Composite was trading flat as China’s services activity slowed in July as the PMI fell from an 11-month high of 52.7 in June to 51.7, with a reading above 50 signaling expansion. Hang Seng was trading deep in the red while Nikkei 225 declined as traders gave thumbs down to Japanese government’s plan to boost spending by 4.6 trillion yen in the current fiscal year and as a stronger yen curbed the lure for exporter stocks. Wall Street succumbed to the biggest sell-off in four weeks on Tuesday as plunging crude oil prices and soft consumer spending revived anxiety over global growth outlook. US consumer spending climbed 0.4 per cent in June from May.

Pre Session-Bullish opening on the cards for Sensex on global rally 11/07/2016

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.

Pre Market Report- Gap up opening seen for Sensex amid global rebound:29/06/2016

Pre Market Report- Gap up opening seen for Sensex amid global rebound:29/06/2016
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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.

Pre Market Report: Sensex seen opening flat on weak global cues; oil cos in focus 16/06/2016

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

2.May.2016: Pre Market Report- Sensex may open lower on weak Asia trend; Manufacturing PMI in focus

Pre Session- Sensex may open lower on weak Asia trend; Manufacturing PMI in focus
02/05/2016

The key Indian equity benchmarks may witness a gap down opening on Monday tracking a sell-off in global stock markets as weak US consumer data raises worries over the health of the world’s biggest economy, curbing the lure for risky assets. The CNX Nifty Index Futures for May delivery fell by 0.67 per cent or 52.5 points at 7,840 at 10:48 AM Singapore time, also signaling that Dalal Street may open lower today. This week, shares of HDFC, Adani Ports and Hero MotoCorp will be in focus as the companies unveil their report cards for the quarter ended March 31, 2016. Also, the April manufacturing PMI, a snapshot of the health of the country’s manufacturing sector, will be released today. India’s manufacturing PMI in March came in at 52.4, with a reading above 50 signaling expansion. Monthly auto sales data, events in the Budget Session of Parliament, foreign investment trend, global stock market trend and movement of crude oil prices will also dictate the direction of Dalal Street this week. Marking a quiet finish to the week amid lackluster global cues and mixed corporate earnings numbers, the 30-share Sensex on Friday closed at 25,606.62, up by 3.52 points or by 0.01 per cent while plunging 231.52 points for the week, snapping a two-week advance.

While stock markets in China and Hong Kong were closed today, that in Japan tumbled over 3.6 per cent as a jump in the yen eroded the appeal of exporter stocks while dismal April manufacturing data raised fears of a worsening contraction in the world’s third biggest economy. Wall Street on Friday marked a bearish closing as US consumer spending rose less than estimated in March, while household confidence hit a seven-month low of 89 in April 2016.

20.apr.2016: Equity Pre Market Report: Bearish opening on the cards for Sensex; Wipro Q4 data eyed

Pre Session- Bearish opening on the cards for Sensex; Wipro Q4 data eyed
20/04/2016

The key Indian equity benchmarks are set to witness a negative opening on Wednesday as traders weigh a mixed trend in fellow Asian peers even as the biggest surge in commodities since August buoyed Wall Street overnight. While the Shanghai Composite was trading with slight losses, Hang Seng fell but Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks.

A decline in the CNX Nifty Index futures for April delivery which fell by 0.21 per cent or 16.5 points to 7,975 at 10:49 am Singapore time, signals a bearish opening for the Sensex today. Caution is expected to rule D-Street today as investors eye the fourth quarter earnings of Wipro with analysts expecting a 2.8 per cent sequential growth in dollar revenue for the company. TCS may be in focus today after posting a better than expected 3.8 per cent sequential growth in Q4 net income late Monday. However, sentiment may remain supported by rising hopes of a further interest rate cut by the RBI over the coming months as softening inflation leaves more leeway for policy easing. The country’s wholesale inflation came in at -0.85 per cent in March 2016, the seventeenth straight month of contraction. While markets were closed on Tuesday, the 30-share Sensex on Monday rallied by 189.61 points or by 0.74 per cent at 25,816.36.

7.Apr.2016: Equity Pre Market Report Cautious opening on the cards for Dalal Street

Pre Session- Cautious opening on the cards for Dalal Street
07/04/2016

Indian equity benchmarks are likely to open on a soft note on Thursday as traders stick to a cautious approach ahead of the March quarter earnings numbers in the coming sessions, which may offer clues over corporate health in Asia’s third biggest economy. The CNX Nifty Index futures for April delivery were trading marginally higher by 0.03 per cent or 2.5 points at 7,636.5 at 10:15 am Singapore time, signaling that the Sensex may witness a flattish opening today. A rise in bad loans, falling oil prices and weak global demand could mean yet another dismal quarter for India Inc., analysts have warned. With the government sticking to its fiscal deficit targets and inflation remaining under control, traders were expecting the RBI to act more aggressively and cut its repo rate by a bigger margin than the 25 bps reduction announced, weighing on sentiment. However, an upbeat prognosis on the country’s economy delivered by the March Services PMI data may support local bourses. The Nikkei India Services Business Activity Index climbed to 54.3 in March from 51.4 in February, with a reading above 50 signaling expansion, Markit Economics reported on Wednesday. Further, an indication by the Fed that it is not in a hurry to raise interest rates may bolster the appetite for risky assets. Bouncing back handsomely from a near-two month low, the 30-share Sensex on Wednesday ended up 17.04 points or by 0.07 per cent at 24,900.63 driven by value buying in beaten down stocks.

Most Asian markets advanced after the minutes from the US Federal Reserve’s latest meeting, released on Wednesday, reaffirmed policymakers’ dovish stance over raising interest rates in the world’s biggest economy amidst the continued risks presented by the global outlook, greatly diminishing the odds for tightening in April. A rebound in oil prices after a surprise drop in US crude inventories from an 86-year high also cheered traders. While China’s Shanghai Composite was trading tad lower, Hang Seng advanced and Japan’s Nikkei 225 rose tracking an overnight rally at Wall Street driven by a weaker dollar, rebound in oil prices and speculation of lower US interest rates for a prolonged period. The Dow Jones Industrial Average advanced 0.64 per cent; the Nasdaq Composite jumped 1.59 per cent while S&P 500 rose 1.05 per cent, on Wednesday, April 6, 2016

Equity Pre Market Report: Sensex tipped to open higher ahead of Tuesday’s RBI decision

Pre Session- Sensex tipped to open higher ahead of Tuesday’s RBI decision
04/04/2016

Indian equity benchmarks are poised to witness a gap up opening on Monday amid optimism among traders ahead of tomorrow’s much anticipated policy decision from the Reserve Bank of India (RBI) which is expected to cut interest rates by 25 basis points as the government’s vow to stick to fiscal prudence and below target inflation offer leeway for further monetary easing by the central bank to help buoy demand and revive investments in Asia’s third biggest economy. Strength in the CNX Nifty Index futures for April delivery which advanced 0.24 per cent or 19 points at 7,764.5 at 10:30 am Singapore time signals that Dalal Street may witness a positive opening today. The centre on Friday said that it had achieved the 3.9 per cent fiscal deficit goal for FY 16, paving the way for a further reduction in interest rates. Investors will also focus on the March Manufacturing PMI set for release today and the Services PMI later this week, which will offer further cues over the health of the Indian economy. Trend of foreign fund flows, quarterly earnings expectations with BHEL set to announce its tentative financial results for the year ended March 31, global market trend and movement of oil prices will also determine the direction of the local bourses this week. Snapping a four week winning streak, the 30-share Sensex last week dipped 67.92 points to close at 25,269.64, while declining 72.22 points or by 0.28 per cent on Friday on profit booking.

On the Asia front, markets in China and Hong Kong were closed for a holiday while Japan’s Nikkei 225 rose on bets that the US Federal Reserve may proceed cautiously with further interest rate hikes despite Friday’s better than expected jobs data. Non-farm payrolls in the US climbed by 215,000 in March, compared to a revised 245,000 gain in February, topping analysts’ estimates for a 205,000 gain while wages picked up, a sign that the labour market recovery in the world’s biggest economy remains on a strong footing in the face of a global slowdown. Wall Street advanced on Friday as strong jobs and manufacturing data infused optimism over the health of the US economy. Manufacturing in the US expanded for the first time in seven months as the ISM’s factory gauge rose to 51.8 in March from 49.5 in February, with a reading above 50 signaling expansion. The Dow Jones Industrial Average advanced 0.61 per cent; the Nasdaq Composite climbed 0.92 per cent while S&P 500 rose 0.63 per cent.

21.Mar.2016: Equity Pre Market Report - Gap down opening on the cards for Dalal Street

Pre Session- Gap down opening on the cards for Dalal Street
21/03/2016

Indian equity benchmarks are poised to open lower on Monday tracking a mixed trend in markets across Asia as a retreat in oil prices and volatility amid the holiday-shortened week weighed on sentiment, curbing risk taking appetite. Weakness in the CNX Nifty Index futures for March delivery, which fell by 0.25 per cent or 19 points at 7,593 at 10:33 am Singapore time, signal a bearish opening for the Sensex today. Volatility may remain high on the domestic bourses with traders likely to resort to profit taking after three straight week of gains and amidst caution ahead of the RBI monetary policy verdict early next month in which the central bank is likely to oblige with a 25 bps interest rate cut to help buoy demand and revive flagging investments in Asia’s third biggest economy. Dalal Street will be closed on Thursday and Friday for Holi and Good Friday, respectively. Due to lack of any major domestic trigger or macroeconomic data, movement in the domestic stock markets this week is likely to be dictated by foreign investment trend and global market sentiment. The Sensex on Friday advanced by 275.37 points or by 1.12 per cent, whilst logging a gain of 234.75 points for the week to end at two-month high of 24,952.74 as the Fed’s fairly dovish stance over future rate hikes lifted sentiment across the globe.

In Asia, China’s Shanghai Composite surged by more than 1.5 per cent and Hang Seng climbed, as policymakers vowed to loosen curbs on the Chinese stock market. China Securities Finance Corp. stressed that it will boost lending to brokerages for their margin trading business in measures aimed at boosting the country’s stock market which recently fell prey to a rout and leverage more than halved from last year’s peak. Japan’s Nikkei 225 was closed for a holiday, while markets in Singapore, Taiwan and South Korea fell as commodity producers dropped as crude oil prices slipped. Wall Street ended higher on Friday as sentiment continued to remain bullish after the Fed suggested a more dovish path to further rate hikes. Banks and healthcompanies were instrumental in Friday’s rally but traders cast aside data showing a dip in US consumer sentiment to a five-month low in March, raising doubts over the recovery in the world’s biggest economy. The gauge measuring consumer sentiment in the US fell to 90 in March from 91.7 in February. The Dow Jones Industrial Average climbed 0.69 per cent; the Nasdaq Composite advanced 0.43 per cent while S&P 500 rose 0.44 per cent.

16.Mar.2016: Equity Pre Market Report: Positive opening seen for Sensex; Fed decision eyed

Pre Session- Positive opening seen for Sensex; Fed decision eyed
16/03/2016

Indian equity benchmarks are likely to witness a gap up opening on Wednesday as traders across the globe await the conclusion of the US Federal Reserve’s two-day monetary policy meet which began on Tuesday, in which the world’s top central bank is likely to offer cues over the path to raising interest rates further following a maiden hike in borrowing costs in almost a decade in December. Strength in the CNX Nifty Index futures for March delivery which climbed by 0.27 per cent or 20.5 points at 7,504 at 10:24 am Singapore time, signals a gap up opening for the Sensex today. Rising speculation of an interest rate cut of at least 25 bps by the Reserve Bank of India (RBI) at its upcoming policy meet on April 5, 2016 may continue to support domestic market sentiment. Easing consumer inflation in February and the government’s commitment to stick to its fiscal deficit targets in the Union Budget has opened the door for further monetary easing from the central bank to help buoy demand and revive investments in Asia’s third biggest economy. Snapping a two-day rally, the 30-share Sensex on Tuesday tumbled by 253.11 points or by 1.02 per cent to end at 24,551.1 amid a sell-off in pharma stocks and muted global cues ahead of the Fed decision.

Asian stocks were trading mixed as material shares retreated amid a commodity sell-off while sentiment remained subdued before a Fed policy decision. While the Fed is likely to keep interest rates unchanged on Wednesday, the tone of its statement will be keenly watched to assess the trajectory of further rate hikes in the world’s biggest economy. China’s Shanghai Composite and Hang Seng logged modest gains as investors awaited Chinese Premier Li Keqiang’s address at the conclusion of annual policy meetings where he may indicate whether the government will continue to directly support the country’s stock market. Japan’s Nikkei 225 fell as a stronger yen dimmed the lure for Japanese exporter companies. Wall Street ended on a subdued note on Tuesday as investors pondered whether central banks still have the capacity to help bolster a flagging economic recovery. The Bank of Japan refrained from additional stimulus while the Fed kicked off a two-day meet on Tuesday. Sentiment also took a hit from tepid US retail sales data which signaled underlying softness in the world’s biggest economy. US retail sales fell 0.1 per cent in February from January when they declined a revised 0.4 per cent. The Dow Jones Industrial Average climbed 0.13 per cent; the Nasdaq Composite fell 0.45 per cent while S&P 500 declined 0.18 per cent.

2.Mar.2016 - Pre Market Report: Sensex set to extend rally on bullish global trend

Pre Session- Sensex set to extend rally on bullish global trend
02/03/2016

Indian equity benchmarks are tipped to witness a gap up opening on Wednesday tracking strong gains from markets across Asia and a bullish finish at Wall Street overnight on signs of steadying US economic growth and on optimism that central banks from Asia to Europe will step up monetary stimulus to help prop up a recovery, bolstering risk taking appetite. Strength in the CNX Nifty Index futures for March delivery which climbed by 1.46 per cent or by 107 points at 7,343 at 10:24 am Singapore time, signals that the Sensex may open higher today following the biggest advance in more than two years on Tuesday when hopes that the government’s decision to stick with its budget deficit target may lead to a further reduction in interest rates by the RBI, buoyed sentiment. The centre maintained its fiscal deficit target at 3.5 per cent of the country’s GDP in FY 2016-17, the least since 2008, while that for the ongoing fiscal was retained at 3.9 per cent. Increased speculation of a near-term interest rate cut may continue to fuel a rally at Dalal Street. Meanwhile, a second straight expansion in India’s manufacturing has eased concerns over a slowdown in Asia’s third biggest economy as the PMI stood at 51.1 in February, unchanged from the level in January, but above the 50-mark that separates expansion from contraction. The 30-share Sensex on Tuesday jumped by 777.35 points or by 3.38 per cent to end at 23,779.35.

Asian stocks advanced tracking a resurgence at Wall Street overnight, whilst a weaker yen buoyed Japanese equities and energy companies rallied. China’s Shanghai Composite climbed driven by a rally in property developers, overshadowing Moody’s decision to cut China’s credit rating outlook to negative from stable amidst concerns over rising government debt, falling currency reserves and doubts over policymakers’ ability to undertake structural reforms. Hang Seng soared over 2.5 per cent and Japan’s Nikkei 225 advanced close to 4 per cent as a weaker yen bolstered the lure for exporter stocks. Wall Street rallied to the highest level in seven weeks on Tuesday as signs of stabilization in US manufacturing activity quelled fears over a slowdown in the world’s biggest economy. The US ISM Manufacturing PMI came in at 49.5 in February, the highest since September, up from 48.2 in January, above estimates for 48.5 but remaining shy of the 50 mark. The Dow Jones Industrial Average rallied 2.11 per cent; the Nasdaq Composite advanced 2.89 per cent while S&P 500 climbed 2.39 per cent.

1.Feb.2016: Equity Pre Market Report: Gap up opening seen for Dalal Street; Manufacturing PMI eyed

Pre Session- Gap up opening seen for Dalal Street; Manufacturing PMI eyed
01/02/2016

Indian equity benchmarks may witness a bullish opening on Monday as traders shift their focus to key macroeconomic data which will offer latest cues over the health of Asia’s third biggest economy. The CNX Nifty Index futures for February delivery advanced by 0.75 per cent or 57 points at 7,608 at 10:30 am Singapore time, signaling that Dalal Street may open higher today. All eyes will be fixated on January factory data with the Nikkei India Manufacturing PMI set to be released today. Manufacturing had fallen into contraction in December as the PMI tumbled to below the neutral 50-mark at 49.1 from November's 50.3. The Services PMI will be released later in the week. The focus this week will be on the RBI’s policy meet on Tuesday which may keep interest rates unchanged amidst the recent acceleration in inflation and as the central bank eyes the progress & direction of key macroeconomic parameters including the fiscal deficit in the upcoming Union Budget. The apex bank had cut borrowing costs by a total 125 bps in 2015. The monthly car sales numbers and December quarter earnings from the likes of Tech Mahindra, Indian Oil, DLF, Lupin, Tata Steel, Eicher Motor and Jet Airways will be eyed this week. Moreover, the trajectory of the rupee which may come under further pressure amidst fears of competitive devaluation of global currencies following the Bank of Japan’s surprise decision last week to adopt negative interest rates may also weigh on Dalal Street. Movement of global commodity prices, foreign investment trend and global cues may also influence sentiment at local bourses this week. The Sensex on Friday rallied by 401.12 points or by 1.64 per cent to end at 24,870.69 while the 30-share benchmark snapped a three-week losing streak, surging almost 1.8 per cent last week as traders across the globe cheered the Bank of Japan move.

Asian stocks were trading mixed with markets in China and Hong Kong succumbing to losses after underwhelming Chinese factory data which showed continued manufacturing contraction in the world’s second biggest economy, souring sentiment. China’s stocks extended the biggest monthly sell-off since the global financial crisis as the country’s official manufacturing PMI fell to a three-year low of 49.4 in January, missing analysts’ estimates of 49.6. Japan’s Nikkei 225 soared by over 1 per cent amidst last week’s surprise central bank stimulus move. Wall Street rallied on Friday as upbeat earnings from Microsoft and the Bank of Japan policy decision buoyed mood. Traders cast aside data showing a slowdown in the world’s biggest economy as Q4 GDP expanded 0.7 per cent annualized rate after a 2 per cent growth in Q3. Meanwhile, the gauge measuring US consumer confidence fell to 92 in January from 92.6 in December. The Dow Jones Industrial Average climbed 2.47 per cent; the Nasdaq Composite rose 2.38 per cent while S&P 500 advanced 2.48 per cent.

(www.rupeedesk.in) Pre Market Report- 29.Jan.2016: Sensex to open tad lower on mixed corporate earnings

Pre Session- Sensex to open tad lower on mixed corporate earnings
29/01/2016

The key domestic equity benchmarks are likely to open on a slightly negative note on Friday, the first day of the February Futures & Options (F&O) series. A mixed trend across markets in Asia as traders awaited the crucial Bank of Japan policy decision, coupled with slight weakness in the CNX Nifty Index futures for February delivery which fell by 0.09 per cent or 7 points at 7,424.5 at 10:48 am Singapore time signals that Dalal Street may open tad lower today. Traders will weigh a mixed bag of earnings from Sensex heavyweights with the Q3 numbers of ICICI Bank and Bharti Airtel missing analysts estimates. ICICI Bank, the country’s biggest private sector lender, in after market hours on Thursday said that its Q3 net profit rose by only 4.5 per cent, the slowest profit growth in six years as bad loans surged. The country’s largest telecom operator Bharti Airtel Ltd in after market hours on Thursday reported a fall of 22 per cent in its consolidated net profit, the first drop in profit in nine quarters. However, shares of carmaker Maruti Suzuki may see some buying momentum after the company in after market hours on Thursday posted a 27.1 per cent surge in net profit. Investors will focus on the December quarter earnings of L&T, Yes Bank, JSW Steel and NTPC to be unveiled today. On Wednesday, the 30-share Sensex ended lower by 22.82 points or by 0.09 per cent at 24,469.57 as traders rolled over their positions on the day of the January futures and options (F&O) contract expiry.

Asian stocks were trading mixed as Japanese shares fell amid caution ahead of the Bank of Japan’s monetary policy verdict with traders anticipating whether the central bank will expand already record- stimulus to help steer the world’s third biggest economy from the renewed threat of deflation, and prop up growth. China’s Shanghai Composite surged by almost 1.8 per cent, the first gain in four days as the worst rout since the global financial crisis seemed overdone. Hang Seng also climbed. Wall Street rallied handsomely on Thursday as oil extended a rebound while investors digested the earnings data from the likes of Facebook. Traders weighed mixed US economic data as durable goods orders fell 5.1 per cent in December, the most since August 2014, jobless claims declined by 16,000 to 278,000 last week and pending home sales rose 0.1 per cent in December. The Dow Jones Industrial Average climbed 0.79 per cent; the Nasdaq Composite rose 0.86 per cent while S&P 500 advanced 0.55 per cent.

22.Jan.2016: Equity Pre Market Report- Gap up opening seen for Sensex on global rebound

Pre Session- Gap up opening seen for Sensex on global rebound
22/01/2016

Indian equity benchmarks are poised to witness a positive opening on Friday tracking a bullish trend in markets across Asia and overnight gains at Wall Street as prospects of central bank stimulus from Japan to the Euro area and a rally in oil prices bolstered the appetite for risky assets. Strength in the CNX Nifty Index futures for January delivery which advanced by 0.79 per cent or 58 points at 7,364 at 10:20 am Singapore time also signals that Dalal Street may open higher today. Speculation is rife that the Bank of Japan is set to consider more easing measures while European Central Bank (ECB) chief Mario Draghi on Thursday hinted that he may bolster stimulus as early as March as a commodity slump rekindles the threat of deflation in the Euro area economy. Further monetary easing measures in developed economies may support the global economic recovery and help tackle the threat of disinflation. Back home, traders will eye the December quarter earnings from Cairn India, ITC, Reliance Communication and SpiceJet to be unveiled today. Shares of telecom operator Idea Cellular may see some selling pressure today after the company on Thursday in after-market hours announced Q3 earnings that missed analysts’ estimates. India's third largest wireless operator posted a marginal dip in third quarter consolidated net income at Rs 764.21 crore, year on year on high spectrum costs. Marking a second straight drop, the 30-share Sensex on Thursday shed 99.83 points or 0.41 per cent to end at the lowest level in over 20 months at 23,962.21 as weakness in Asian shares, a continued oil rout and rupee depreciation pulled down the benchmark from the 24 K mark.

Asian stocks soared on Friday as traders cheered speculation of a central bank stimulus boost in Japan while the ECB also hinted at further monetary easing as soon as March as policymakers step up efforts to combat depressed inflation amidst a rout in oil prices. China’s Shanghai Composite advanced led by a rally in energy producers amidst a rebound in oil prices which were back towards the USD 30 per barrel mark, while officials indicated they will curb industrial overcapacity which is dragging down economic growth. Hang Seng soared over 2 per cent while Japan’s Nikkei 225 rallied over 3 per cent as a weaker yen bolstered the lure for exporter stocks, and as speculation grew that the Bank of Japan will step up stimulus. Wall Street ended on a bullish note on Friday as speculation rose that China and Europe could boost stimulus if needed, while oil prices witnessed a rebound. The ECB, which kept key interest rates unchanged at record lows, vowed to take policy action in March when it will consider expanding monetary stimulus. The Dow Jones Industrial Average advanced 0.74 per cent; the Nasdaq Composite rose 0.01 per cent while S&P 500 closed up 0.52 per cent.

18.Jan.2016: Pre Market Report: Bears may tighten grip on Dalal Street amid global gloom

Pre Session- Bears may tighten grip on Dalal Street amid global gloom
18/01/2016

Indian equity benchmarks are set to witness a bearish opening on Monday as an Asian stock rout deepened amid jitters over the health of the global economy and an ongoing slump in oil prices as a removal of sanctions against Iran threatened to worsen a supply glut, sinking investor sentiment and souring risk taking appetite. The CNX Nifty Index futures for January delivery fell by 0.10 per cent or 7.5 points at 7,443.5 at 10:27 am Singapore time, a sign that Dalal Street may open lower today. The focus today will be on the Q3 earnings numbers of Wipro, the country’s third biggest software services provider which may report a 2 per cent rise in net profit at Rs 2,240 crore in the October-December 2015 quarter. Other companies to report earnings this week include Kotak Mahindra Bank, RIL, Axis Bank, HCL Technologies, Ultra Tech Cement, Idea Cellular, Cairn India and ITC. Aside from Q3 earnings, global stock market movement amidst China’s Q4 GDP data, FII trend, movement of the rupee against the dollar and oil prices will continue to weigh on the Sensex this week. Foreign investors have shunned Indian equities, with this year’s net outflow at USD 686.2 million. Volatility may remain high at the bourses amidst worries over a China slowdown and an ongoing oil collapse. Marking a second straight session in the red, the 30-share Sensex on Friday tanked 317.93 points or 1.28 per cent to end at a 19-month low of 24,455.04 as earnings from blue-chips disappointed and a China rout worsened. The Sensex lost almost 2 per cent for the week, marking its second straight decline.

Markets across Asia continued to bleed heavily on Monday as fears over the health of the world economy and tumbling oil prices fueled worries over disinflation, hitting investor mood. Investors awaited China’s fourth quarter GDP data due on Tuesday which could show a further slowdown in the world’s second biggest economy with growth pegged at 6.8 per cent, year on year by analysts, down from 6.9 per cent in Q3. Oil slid below the USD 30 per barrel mark to a fresh 12-year low with Iran rattling markets by getting ready to increase its shipments by 500,000 barrels per day after the lift-off of West-imposed sanctions against the Islamic Republic over the weekend, threatening to deepen a global supply surplus. China’s Shanghai Composite fell over 0.40 per cent, Hang Seng tumbled over 1.5 per cent and Japan’s Nikkei 225 slid nearly 2 per cent amid caution ahead of industrial output data. Wall Street tumbled on Friday with benchmark S&P 500 sinking to the lowest level since August amidst an ongoing commodity rout and contractions in retail sales & factory output which signaled renewed concerns over the health of the world’s biggest economy. Capping off the weakest year since 2009, US retail sales dipped 0.1 per cent in December while factory output fell for a second month on the trot, down 0.1 per cent last month. The Dow Jones Industrial Average sank 2.39 per cent; the Nasdaq Composite fell 2.74 per cent while S&P 500 declined 2.16 per cent.

(www.rupeedesk.in) 10.Dec.2015: Flat opening on the cards for Dalal Street amid mixed Asian cues - Pre Market Report

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Pre Session- Flat opening on the cards for Dalal Street amid mixed Asian cues
10/12/2015

The domestic equity benchmarks may open on a flat note, with a positive bias on Thursday as traders stay on the sidelines amidst rising concerns surrounding the GST bill which could face a delay in implementation, dimming the outlook for Asia’s third biggest economy, curbing risk taking appetite. Continued disruption of the ongoing Winter Session of Parliament amidst opposition uproar threatens to derail the Modi reform express, making foreign investors jittery. There are fears that GST, seen as a breakthrough fiscal reform that could boost the country’s annual GDP by as much as 2 per cent, may fail to get the green light during the current Parliament session, putting its implementation from the set date of April 1, 2016, in limbo. Uncertainty on the global front amidst an ongoing commodity rout, signs of a worsening slowdown in China, coupled with caution ahead of the US Federal Reserve’s policy meet next week in which an interest rate hike is widely expected, may also weigh on Dalal Street. Traders may also resort to caution ahead of the October industrial output data set for release after-market-hours tomorrow. Analysts expect industrial output to have climbed by a robust 5.8 per cent in October 2015, year on year. In September 2015, industrial output expanded by 3.6 per cent, year on year, compared to a scorching growth of 6.3 per cent in August 2015. The CNX Nifty Index futures for December delivery climbed 0.05 per cent or 3.5 points at 7,650 at 10:29 am Singapore time, a sign that the Sensex may open little changed on Thursday. Marking a sixth straight day in the red, the 30-share Sensex, on Wednesday slid by 274.28 points or by 1.08 per cent to end at 25,036.05 as the GST logjam pushed traders towards panic selling as progress over key economic reforms looked set to stall.

Asian stocks were trading mixed as tumbling oil prices continued to unsettle investor sentiment. China’s Shanghai Composite rallied as brokerages advanced, while Hang Seng was trading tad higher. Japan’s Nikkei 225 plunged by over 1 per cent as a stronger yen curbed the lure for exporter stocks. Wall Street slipped to the lowest level in almost four weeks on Wednesday as a rout in oil prices raised fears that weakening global growth may expand supply gluts of commodities. A sharp sell-off in technology shares also hit US stocks, with the tech-heavy Nasdaq Composite sinking nearly 1.5 per cent.

Pre Market Report - 9.dec.2015 - Weak global cues signal lower start on D-Street

Pre Session: Weak global cues signal lower start on D-Street
09/12/2015

The key Indian equity benchmarks are likely to face turbulence and witness a bearish opening for the sixth straight day on Wednesday, tracking a steep sell-off in markets across Asia, as uncertainty loom over the long pending GST bill after opposition uproar over the National Herald case led to a Parliament adjournment for a second day on Tuesday. Further a bearish trend across Asia and a sell-off at Wall Street overnight, coupled with weakness in the CNX Nifty Index futures for December delivery which fell 29 points at 7,690 at 10:29 am Singapore time, signal that the Sensex is likely to open lower today.

The domestic bourses ended lower for fifth straight day on Tuesday as a bearish trend across markets in Asia amidst fresh fears over China fuelled by a worsening trade slump, and caution ahead of a likely Fed interest rate hike next week plagued investor sentiment. The 30-share BSE SENSEX closed at 25310.33, down by 219.78 points or by 0.86 per cent, and the NSE Nifty ended 63.7 points lower at 7701.7. Shares of cigarette makers may continue downtrend as the Finance Ministry recommended a 40 per cent goods and services tax (GST) rate on tobacco products. Oil shares may also continue their downward journey amidst a worsening rout in crude oil prices as the OPEC effectively ditched its strategy of curbing production to control prices which have now hit the lowest level in more than six and a half years as a supply glut expands. Among others, shares of metal companies may also witness intense selling pressure as China’s exports and imports declined in November, raising fears of a hard landing in the world’s biggest metals consuming nation, eroding prospects of metal makers. Caution ahead of the US Federal Reserve’s two-day policy meet next week in which the world’s top central bank is set to lift interest rates for the first time in almost a decade, may also weigh on Dalal Street.

Asian stocks continued their southward journey on Wednesday as oil rout took a toll on energy and resource shares, after China trade data signaled a worsening slowdown in Asia’s biggest economy. China’s Shanghai Composite was trading flat while Hang Seng slumped 0.5 per cent as China’s exports slipped for a fifth month on the trot, declining 3.7 per cent, year on year, in yuan terms, in November 2015. Japan’s Nikkei 225 fell over 1 per cent as a sell-off in energy producers overshadowed upbeat GDP data which showed that the world’s third biggest economy grew by an annualized 1 per cent in the September quarter, hence averting a recession. Wall Street ended in red on Tuesday with all three of the Dow Jones Industrial Average, the Nasdaq Composite and S&P 500 closed lower in four out of the past five sessions, led by a sell-off in shares of raw material producers and energy companies.

Gloom and Doom may continue at Dalal Street on global sell-off - Pre \Market Report: 8.Dec.2015

Pre Session- Gloom and Doom may continue at Dalal Street on global sell-off
08/12/2015

The key Indian equity benchmarks are poised to extend a four-day bearish ride and witness a gap down opening on Tuesday tracking a steep sell-off in markets across Asia as a China trade slump exacerbated fears over the health of the world’s second biggest economy, while a commodity rout worsened, curbing risk taking appetite. A bearish trend across Asia and a sell-off at Wall Street overnight, coupled with weakness in the CNX Nifty Index futures for December delivery which fell 0.68 per cent or 53 points at 7,756.5 at 10:29 am Singapore time, signal that the Sensex is likely to open lower today. Marking a four-day run of losses, the 30-share Sensex, on Monday shed 108 points or 0.42 per cent to end at a three-week low of 25,530.11 led by a drop in cigarette makers such as ITC which slid over 6 per cent as the Finance Ministry recommended a 40 per cent goods and services tax (GST) rate on tobacco products. Oil shares may continue their downward journey amidst a worsening rout in crude oil prices as the OPEC effectively ditched its strategy of curbing production to control prices which have now hit the lowest level in more than six and a half years as a supply glut expands. Shares of metal companies may also witness intense selling pressure as China’s exports and imports declined in November, raising fears of a hard landing in the world’s biggest metals consuming nation, eroding prospects of metal makers. Caution ahead of the US Federal Reserve’s two-day policy meet next week in which the world’s top central bank is set to lift interest rates for the first time in almost a decade, may also weigh on Dalal Street.

Asian stocks sank as tepid China trade data signaled a worsening slowdown in Asia’s biggest economy while tumbling oil prices hit shares of energy producers. China’s Shanghai Composite slid over 1.3 per cent while Hang Seng slumped over 1.7 per cent as China’s exports slipped for a fifth month on the trot, declining 3.7 per cent, year on year, in yuan terms, in November 2015. Japan’s Nikkei 225 fell over 1 per cent as a sell-off in energy producers overshadowed upbeat GDP data which showed that the world’s third biggest economy grew by an annualized 1 per cent in the September quarter, hence averting a recession. Wall Street treaded water on Monday with all three of the Dow Jones Industrial Average, the Nasdaq Composite and S&P 500 retreating led by a sell-off in shares of raw material producers and energy companies

7.Dec.2015: Pre Market Report - Dalal Street may snap 3-day losing streak on global rally

Pre Session-Dalal Street may snap 3-day losing streak on global rally
07/12/2015 08:44

The key Indian equity benchmarks are poised to bounce back from a three-day losing spree, on Monday as robust global cues bolster investor mood at Dalal Street while the sharp losses in the past few sessions which pushed the Sensex to a two-week low, offers good bargain buying opportunity in stocks, at existing levels. A mostly bullish trend across Asia and a rally at Wall Street on Friday, coupled with strength in the CNX Nifty Index futures for December delivery which advanced 0.47 per cent or 37 points at 7,857 at 10:23 am Singapore time, signal that the Sensex is likely to witness a gap up opening on Monday. Marking a third straight day in the red, the 30-share Sensex, on Friday slipped 248.51 points or by 0.96 per cent to end at 25,638.11 amidst a global sell-off after the European Central Bank’s (ECB) stimulus efforts which included cutting the deposit rate into deep negative territory, and extending its bond buying plan by at least six months, fell short of market expectations. Dalal Street traders this week will eye the release of the October industrial output data in after-market hours on Friday, which may offer fresh cues over the health of Asia’s third biggest economy. In September 2015, industrial output expanded by 3.6 per cent, year on year, compared to a scorching growth of 6.3 per cent in August 2015. Markets may witness some volatility this week as better-than-expected US jobs data pushed the case for a maiden interest rate hike since 2006, next week, weighing on the outlook for emerging markets, which may lose some sheen as higher interest rates in the US risk diverting capital back to the US. The world’s biggest economy added 211,000 jobs in November as the jobless rate stayed at over a seven-year low of 5 per cent. October’s payrolls gain was upwardly revised to 298,000, showing a fast progressing labour market recovery, bolstering the case for monetary tightening. Meanwhile, falling oil prices may boost sentiment, given that India, a net crude importer, benefits from the ongoing oil slump. With the OPEC refusing to curb production to alleviate a supply glut, the price of the benchmark Brent crude could slip well below USD 40 per barrel in the upcoming sessions.

Most Asian stocks rallied after strong US jobs data reinforced optimism over the health of the American economy while ECB President Mario Draghi signaled that the Frankfurt-based central bank will add stimulus as needed. China’s Shanghai Composite was trading tad lower ahead of tomorrow’s trade numbers which may show a continued decline in the country’s exports and imports in November, raising fears over a hard landing in the world’s second biggest economy. Hang Seng rose and Japan’s Nikkei 225 surged 1.5 per cent ahead of the Bank of Japan governor’s speech. Wall Street soared on Friday with each of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 rallying over 2 per cent as strong US jobs data raised hopes that the American economy can withstand the effect of monetary tightening.

24.Nov.2015: Gap down opening seen for Sensex on global sell-off - Pre Market Report

Pre Session –Gap down opening seen for Sensex on global sell-off
24/11/2015

The key Indian equity benchmarks are tipped to extend Monday’s losses and open lower today tracking a bearish global trend while a continued exodus of foreign investors amid concerns that the BJP’s loss in Bihar may crimp its ability to push through key reforms such as GST to bolster Asia’s third biggest economy , may also sour sentiment at Dalal Street. Foreign Investors were net sellers of Indian equities for an eighth straight day on November 20, marking the longest selloff since September. International Investors have sold Indian stocks worth USD 672 million in November thus far, the most among emerging markets after South Korea. Speculation of an imminent interest rate hike by the US Federal Reserve has also curbed the lure for risky emerging market assets. Volatility may remain high at the domestic bourses ahead of the expiry of the November Futures & Options (F&O) contracts on Thursday, while caution ahead of the start of the Winter Session of Parliament from Thursday may also weigh on the Sensex. Shares of PSU banks may see some positive trade after Finance Minister Arun Jaitley vowed measures to relieve stress of state-run lenders that are battling high NPAs. Against the backdrop of weakness in fellow Asian equities and a bearish finish at Wall Street overnight, coupled with weakness in the CNX Nifty Index futures for November delivery which fell 0.32 per cent or 25 points at 7,826.5 at 10:43 am Singapore time, the Sensex is set to witness a gap down opening on Tuesday. Snapping a two-day run of gains, the 30-share Sensex on Monday fell by 49.15 points or by 0.19 per cent to end at 25,819.34 as traders resorted to a cautious approach ahead of the Winter Session of Parliament which begins later this week that may decide the fate of the crucial GST bill, as doubts arise over the Modi government’s ability to push through key economic policies following the Bihar election disaster.

Asian stocks were trading in the red as a continued commodity rout hit shares of raw material producers while an increased likelihood of a rate hike by the Fed in December also curbed risk taking appetite. China’s Shanghai Composite was trading lower, extending Monday’s decline amidst weakness in shares of metal producers & industrial companies, while fears that traders may sell existing shares to garner funds to take part in the next round of IPOs also hit sentiment. Hang Seng fell while Japan’s Nikkei 225 swung to slim losses as it reopened after a holiday. Wall Street ended lower on Monday after sales of previously owned homes in the US fell in October, raising concerns over the outlook for the world’s biggest economy even as the Fed gets ready to lift interest rates for the first time in almost a decade.