Pre Session- Sensex may open lower on weak Asian
cues
26/08/2014 08:28
The key domestic benchmarks are tipped to open lower today tracking a bearish trend in major Asian markets as ongoing conflicts in Ukraine and the Middle East dim the appeal of risky assets. A dip in US new home sales to the lowest level in four months in July signaled fresh doubts over the recovery in the world’s biggest economy, weighing on sentiment across Asian bourses. Sales of new homes in the US declined 2.4 per cent to an annualized pace of 412,000 in July 2014 over the previous month. China’s Shanghai Composite and Hang Seng were trading lower on concerns over slowing bank lending. Japan’s Nikkei 225 fell as a stronger yen dimmed the appeal of exporter stocks.
Back home, the Sensex may come under pressure as the Supreme Court’s decision to declare all coal blocks allocated since 1993 as illegal may hit metal and mining stocks, while the decision may lead to fuel shortages, complicating Prime Minister Narendra Modi’s bid to revive Asia’s third biggest economy. The Sensex may see some volatility ahead of the expiry of August F&O contracts this Thursday while caution may persist ahead of Q1 GDP data likely to be released on Friday.
Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 18698120.00, Jindal Steel & Power Ltd. 10269041.00, IDFC Ltd. 6687592.00, Bharat Heavy Electricals Ltd. 6409774.00 and Tata Steel Ltd. 5682478.00.
26/08/2014 08:28
The key domestic benchmarks are tipped to open lower today tracking a bearish trend in major Asian markets as ongoing conflicts in Ukraine and the Middle East dim the appeal of risky assets. A dip in US new home sales to the lowest level in four months in July signaled fresh doubts over the recovery in the world’s biggest economy, weighing on sentiment across Asian bourses. Sales of new homes in the US declined 2.4 per cent to an annualized pace of 412,000 in July 2014 over the previous month. China’s Shanghai Composite and Hang Seng were trading lower on concerns over slowing bank lending. Japan’s Nikkei 225 fell as a stronger yen dimmed the appeal of exporter stocks.
Back home, the Sensex may come under pressure as the Supreme Court’s decision to declare all coal blocks allocated since 1993 as illegal may hit metal and mining stocks, while the decision may lead to fuel shortages, complicating Prime Minister Narendra Modi’s bid to revive Asia’s third biggest economy. The Sensex may see some volatility ahead of the expiry of August F&O contracts this Thursday while caution may persist ahead of Q1 GDP data likely to be released on Friday.
Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 18698120.00, Jindal Steel & Power Ltd. 10269041.00, IDFC Ltd. 6687592.00, Bharat Heavy Electricals Ltd. 6409774.00 and Tata Steel Ltd. 5682478.00.
