Gap down opening seen for Sensex amid subdued global cues: Pre Market Report Today: 20.Nov.2015

Pre Session- Gap down opening seen for Sensex amid subdued global cues
20/11/2015

The key domestic benchmarks are poised to witness a bearish opening today as traders book profits following Thursday’s stellar gain when the 30-share Sensex posted its single-day percentage gain in nearly seven weeks as the Fed’s signal that it may undertake a gradual pace of interest rate tightening and fresh reform impetus from the Modi government bolstered the lure for risky assets. Amidst a lackluster trend in Asian stocks and a flat finish at Wall Street overnight, coupled with weakness in the CNX Nifty Index futures for November delivery which fell 0.21 per cent or 16.5 points at 7,839.5 at 10:41 am Singapore time, Dalal Street is set to open lower on Friday. Big –tickets reforms will however, offer support to the Sensex. Ahead of the crucial Winter Session of Parliament which begins next week, the government seems to be making strong efforts to reach out to the opposition and try & resolve the deadlock on the GST bill that remains stuck due to political headwinds. The centre approved a 10 per cent stake stale in Coal India, gave the nod to the IPO of Cochin Shipyard and announced a five-year interest subsidy scheme for exporters. The government also said that it would auction eight coal mines to steel, cement and electricity companies in the fourth tranche of coal auctions due in January, as part of its plans to auction coal mines to private players. The Sensex on Thursday soared by 359.4 points or by 1.41 per cent to end at 25,841.92 as the government’s announcement regarding the Coal India stake sale, IPO plan for Cochin Shipyard and interest subsidy scheme for exporters brightened the outlook for Asia’s third biggest economy.

Asian stocks were trading mixed as investors took a breather after an impressive rally fueled by hopes that the US Fed will initiate a gradual pace of rate hikes following an initial lift-off in borrowing costs most likely in December. China’s Shanghai Composite posted modest gains led by a rally in technology stocks, but Hang Seng fell and Japan’s Nikkei 225 retreated as a stronger yen hit exporters. Wall Street ended little changed on Thursday following the biggest rally in nearly a month on Wednesday fueled by dovish Fed minutes

7.Sep.2015: D-Street to remain in Bear grip on global weakness- Pre Market Report Today

Pre Session- D-Street to remain in Bear grip on global weakness

07/09/2015

Bears may continue to rule the roost at Dalal Street as a global sell-off amid uncertainty over the timing of a maiden US interest rate hike since 2006, keeps traders jittery, souring risk taking appetite. Stocks in Asia with the exception of China that were trading on a bullish note following a three-day holiday, succumbed to a sell-off tracking a bearish finish at Wall Street on Friday as mixed US jobs data which showed that American employers added fewer jobs in August even as the jobless rate slid to the lowest level since April 2008, offered little clarity over the timing of a Fed rate hike. Against the backdrop of a global gloom, coupled with weakness in the SGX CNX Nifty Index futures for September delivery which fell by 0.28 per cent or 21.5 points at 7,636.50 at 10:41 am Singapore time, Dalal Street is set to witness a gap down opening today. The Sensex on Friday sank by 562.88 points or by 2.18 per cent to end at 25,201.9, the lowest level in more than a year. 

The 30-share Sensex, which slumped by 4.5 per cent last week, its biggest weekly loss since November 2011, as foreign investors withdrew more than Rs 4,000 crore from Indian equities, may remain volatile this week as investors across the globe stay cautious ahead of the upcoming Federal Reserve monetary policy meet on September 15-16, where the world’s top central bank may offer some cues over the timing of a maiden interest rate hike in nine years. The movement of the rupee against the dollar, overseas investment trend and global cues will continue to dictate stock market trend. On the domestic front, the July IIP data will also shape the direction of Dalal Street this week. A slowdown in industrial output growth may raise calls for an interest rate cut from the Reserve Bank of India (RBI) at its next policy meet on September 29. 

Most Asian stocks fell today as traders were unsure over the timing of a US interest rate hike as Friday’s jobs data signaled slight weakness in the health of the world’s biggest economy. Non-farm payrolls in the US, climbed by 173,000 in August, compared to an upwardly revised 245,000 gain in July, and below expectations of a 217,000 rise. However, the unemployment rate fell to 5.1 per cent in August 2015 from 5.3 per cent in July 2015. Shanghai Composite rose today as comments from the Chinese central bank governor over the weekend lifted sentiment. People’s Bank of China Governor Zhou Xiaochuan had predicted an end to the country’s stock turmoil in the near-term, and that state intervention prevented systemic risk and stopped a free-fall. Meanwhile, Hang Seng declined while Japan’s Nikkei 225 was hit by a stronger yen which curbed the lure for exporter stocks. On Friday, all three of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 shed more than 1 per cent after August jobs data disappointed.

6.Aug.2015: Market seen opening flat on mixed Asian cues - Pre Market Report Today..

Pre Session: Market seen opening flat on mixed Asian cues
06/08/2015

Tracking muted cues from fellow Asian peers, Indian equity benchmarks are expected to see flat opening on Thursday. Indian markets closed higher, with SENSEX gaining 150 points and Nifty adding 50 points, led by a spectacular rally in the technology stocks on the back of a strong dollar, coupled with encouraging services PMI data. Sentiments of the investors remained upbeat after RBI in its monetary policy review on Tuesday indicated that there is a possibility of further rate cuts in the coming months as it cut the consumer inflation forecast for January-March 2016 by 0.2 per cent on the back of declining crude oil prices and a better than expected monsoon. The Indian services industry rebounded to growth phase in July as the seasonally adjusted Nikkei Services Business Activity Index increased to 50.8 from 47.7 in June, signaling a pickup in Asia's third biggest economy, bolstering risk taking appetite. On the sectoral front, Cummins India, Tata Global Beverages, Arvind and Motherson Sumi Systems will be declaring their results for the quarter ended June 30 later today. Against the backdrop of mixed trend in Asian stocks, coupled with negative trade in the SGX CNX Nifty Index futures for August delivery which fell 10 points at 8,538 at 8:00 am Indian time, Dalal Street is set for a flat opening today. On the global front, Asian stocks were trading mostly higher as a pickup in China services growth eased concerns over the outlook in the world’s second biggest economy, but speculation of an imminent hike in US interest rates limited gains. China’s Shanghai Composite extended Tuesday’s advance after the Services PMI rose to the highest level in 11 months at 53.8 in July from 51.8 in June. Japan’s Nikkei 225 posted handsome gains as a weaker yen boosted the lure for exporter stocks. In overnight trade, Wall Street ended higher, with the S&P 500 and Nasdaq Composite settled in green, while the Dow Jones Industrial Average closed marginally lower amid disappointment from Disney's earnings.