Pre Session- Sensex tipped to open higher; F&O expiry eyed
28/08/2014 08:23
The key domestic benchmarks are likely to witness a positive opening today tracking a mostly bullish trend in Asian markets as investors bet on further monetary stimulus in the Euro area. China’s Shanghai Composite rose even as industrial profit growth weakened last month, fueling concerns over a slowdown in the world’s second biggest economy. Industrial profits in China grew 13.5 per cent in July 2014 from the same month a year ago, compared to an annual 17.9 per cent rise in June 2014. Japan’s Nikkei 225 fell as a weaker yen dimmed the appeal of exporter stocks.
Back home, a record high closing on Wednesday signaled bullish investor sentiment amid hopes that the Modi government to start delivering more on the reform front after the government raised the FDI cap in the defence sector from 26 per cent to 49 per cent. The Sensex may witness some volatility ahead of the expiry of the August Futures and Options (F&O) contracts today, and a holiday tomorrow on account of Ganesh Chaturthi. Investors will be eying the Q1 GDP data to be released tomorrow which may show that the economy expanded at the fastest pace in two years with GDP expected to have grown 5.5 per cent, year on year in the April-June period, up from an annual 4.6 per cent expansion in Q4 FY 2013-14.
Top traded Volumes on NSE Nifty – DLF Ltd. 12415660.00, Hindalco Industries Ltd. 9876204.00, Power Grid Corporation of India Ltd. 7976090.00, Oil and Natural Gas Corporation Ltd. 7286208.00 and Jindal Steel & Power Ltd. 5960364.00.
28/08/2014 08:23
The key domestic benchmarks are likely to witness a positive opening today tracking a mostly bullish trend in Asian markets as investors bet on further monetary stimulus in the Euro area. China’s Shanghai Composite rose even as industrial profit growth weakened last month, fueling concerns over a slowdown in the world’s second biggest economy. Industrial profits in China grew 13.5 per cent in July 2014 from the same month a year ago, compared to an annual 17.9 per cent rise in June 2014. Japan’s Nikkei 225 fell as a weaker yen dimmed the appeal of exporter stocks.
Back home, a record high closing on Wednesday signaled bullish investor sentiment amid hopes that the Modi government to start delivering more on the reform front after the government raised the FDI cap in the defence sector from 26 per cent to 49 per cent. The Sensex may witness some volatility ahead of the expiry of the August Futures and Options (F&O) contracts today, and a holiday tomorrow on account of Ganesh Chaturthi. Investors will be eying the Q1 GDP data to be released tomorrow which may show that the economy expanded at the fastest pace in two years with GDP expected to have grown 5.5 per cent, year on year in the April-June period, up from an annual 4.6 per cent expansion in Q4 FY 2013-14.
Top traded Volumes on NSE Nifty – DLF Ltd. 12415660.00, Hindalco Industries Ltd. 9876204.00, Power Grid Corporation of India Ltd. 7976090.00, Oil and Natural Gas Corporation Ltd. 7286208.00 and Jindal Steel & Power Ltd. 5960364.00.
