Pre Session- Sensex to open higher on upbeat GDP data
01/09/2014 08:30
The key domestic benchmarks are likely to open higher today as investors cheer the fastest growth in two and a half years in Asia’s third biggest economy last quarter. Indian economy expanded by 5.7 per cent in the April-June quarter of FY 2014-15 from the same period a year ago, the fastest pace of expansion since the last quarter of FY 2011-12 driven by robust factory, services and mining output, government data showed on Friday. In Q4 FY 2013-14, the economy grew by 4.6 per cent from the same period a year ago. Investors will be eying the current account deficit data due this week. Auto stocks will be in focus as companies release August sales numbers. However, cautious sentiment ahead of the Supreme Court verdict on the fate of all coal blocks allocated since 1993 may trim gains in the Sensex. The apex court last week held that all coals blocks allocated since 1993 were illegal and will decide whether to undertake a mass cancellation of blocks allocated since 1993 or slap some sort of penalty.
Asian stocks rose amid hopes that Chinese policymakers may add fresh stimulus to boost growth in the world’s second biggest economy after China’s manufacturing activity slowed last month. The official China factory gauge fell to 51.1 last month from 51.7 in July, with a reading above 50 signaling expansion. Investors weighed geopolitical tensions as the EU agreed to slap further sanctions on Russia if the conflict in Ukraine worsens. China’s Shanghai Composite and Hang Seng rose while Japan’s Nikkei 225 was also trading higher as a weaker yen boosted the appeal of exporter stocks.
Top traded Volumes on NSE Nifty – DLF Ltd. 14558542.00, Power Grid Corporation of India Ltd. 13773864.00, IDFC Ltd. 13399812.00, Bharat Heavy Electricals Ltd. 12840417.00 and Oil and Natural Gas Corporation Ltd. 8460552.00.
01/09/2014 08:30
The key domestic benchmarks are likely to open higher today as investors cheer the fastest growth in two and a half years in Asia’s third biggest economy last quarter. Indian economy expanded by 5.7 per cent in the April-June quarter of FY 2014-15 from the same period a year ago, the fastest pace of expansion since the last quarter of FY 2011-12 driven by robust factory, services and mining output, government data showed on Friday. In Q4 FY 2013-14, the economy grew by 4.6 per cent from the same period a year ago. Investors will be eying the current account deficit data due this week. Auto stocks will be in focus as companies release August sales numbers. However, cautious sentiment ahead of the Supreme Court verdict on the fate of all coal blocks allocated since 1993 may trim gains in the Sensex. The apex court last week held that all coals blocks allocated since 1993 were illegal and will decide whether to undertake a mass cancellation of blocks allocated since 1993 or slap some sort of penalty.
Asian stocks rose amid hopes that Chinese policymakers may add fresh stimulus to boost growth in the world’s second biggest economy after China’s manufacturing activity slowed last month. The official China factory gauge fell to 51.1 last month from 51.7 in July, with a reading above 50 signaling expansion. Investors weighed geopolitical tensions as the EU agreed to slap further sanctions on Russia if the conflict in Ukraine worsens. China’s Shanghai Composite and Hang Seng rose while Japan’s Nikkei 225 was also trading higher as a weaker yen boosted the appeal of exporter stocks.
Top traded Volumes on NSE Nifty – DLF Ltd. 14558542.00, Power Grid Corporation of India Ltd. 13773864.00, IDFC Ltd. 13399812.00, Bharat Heavy Electricals Ltd. 12840417.00 and Oil and Natural Gas Corporation Ltd. 8460552.00.
