Pre Session- Sensex tipped to open higher on Asian cues
19/08/2014 08:21
The key domestic benchmarks are poised to open on a positive note tracking a firm trend across Asian peers as a rise in US homebuilder sentiment to the highest level in seven months signaled a pickup in the world’s biggest economy, boosting the appetite for risky assets. The gauge measuring US homebuilder sentiment climbed to 55 in August from 53 in the previous month. Further, geopolitical concerns eased as Israel and Palestinian militants agreed to extend their five-day truce by one more day while the US helped Kurdish and government forces to retake Iraq’s largest dam from Islamic rebels. In Ukraine, the Red Cross was closely working out details of allowing a safe-passage plan for a Russian aid convoy bound for war-torn eastern Ukraine. China’s Shanghai Composite was trading with slim gains, while Hang Seng rose amid hopes that China may accelerate reforms to fasten growth while Japan’s Nikkei 225 continued to extend gains.
On the domestic front, sentiment may remain positive amid hopes that the new government may start delivering on its commitment to boosting economic growth. Prime Minister Narendra Modi’s Independence Day speech where he stressed on the need to boost exports while committing to provide bank and insurance cover to millions of poor has brought renewed optimism over the economy. However, the Sensex may witness some profit booking today after surging to a fresh high in the previous session.
Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 9334923.00, Oil and Natural Gas Corporation Ltd. 8603993.00, Tata Motors Ltd. 8564539.00, IDFC Ltd. 8076808.00 and DLF Ltd. 6432096.00.
19/08/2014 08:21
The key domestic benchmarks are poised to open on a positive note tracking a firm trend across Asian peers as a rise in US homebuilder sentiment to the highest level in seven months signaled a pickup in the world’s biggest economy, boosting the appetite for risky assets. The gauge measuring US homebuilder sentiment climbed to 55 in August from 53 in the previous month. Further, geopolitical concerns eased as Israel and Palestinian militants agreed to extend their five-day truce by one more day while the US helped Kurdish and government forces to retake Iraq’s largest dam from Islamic rebels. In Ukraine, the Red Cross was closely working out details of allowing a safe-passage plan for a Russian aid convoy bound for war-torn eastern Ukraine. China’s Shanghai Composite was trading with slim gains, while Hang Seng rose amid hopes that China may accelerate reforms to fasten growth while Japan’s Nikkei 225 continued to extend gains.
On the domestic front, sentiment may remain positive amid hopes that the new government may start delivering on its commitment to boosting economic growth. Prime Minister Narendra Modi’s Independence Day speech where he stressed on the need to boost exports while committing to provide bank and insurance cover to millions of poor has brought renewed optimism over the economy. However, the Sensex may witness some profit booking today after surging to a fresh high in the previous session.
Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 9334923.00, Oil and Natural Gas Corporation Ltd. 8603993.00, Tata Motors Ltd. 8564539.00, IDFC Ltd. 8076808.00 and DLF Ltd. 6432096.00.
