Pre Session- Sensex tipped to open lower on Asian cues
26/09/2014 08:30
The key domestic benchmarks are likely to open lower today tracking a mostly bearish trend in Asian markets which fell tracking a plunge at Wall Street amid concerns over a rise in US interest rates and heightened conflict in Russia and the Middle East, curbing the appetite for risky assets. China’s Shanghai Composite was trading flat while Hang Seng fell on concerns over a slowdown in growth in the world’s second biggest economy. Japan’s Nikkei 225 was trading deep in the red as Japan’s inflation slowed more than estimated in August, underscoring the challenge for the Bank of Japan as it bids to meet the 2 per cent target. Consumer prices excluding fresh food rose 3.1 per cent, year on year in August 2014, compared to an annual gain of 3.2 per cent projected by analysts. Excluding the sales tax rise, annual inflation was 1.1 per cent, compared to the 2 per cent target. Back home, the Sensex is in a correction phase after a massive rally in recent weeks. Further, investor sentiment may be impacted by the Supreme Court’s decision to cancel most coal blocks allocated since 1993 and slap a USD 1.3 billion penalty that may cause a coal shortage and raise power generation costs in Asia’s third biggest economy.
Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 31086655.00, Jindal Steel & Power Ltd. 16728675.00, Sesa Sterlite Ltd. 12153544.00, NTPC Ltd. 11706208.00 and Power Grid Corporation of India Ltd. 9059825.00
26/09/2014 08:30
The key domestic benchmarks are likely to open lower today tracking a mostly bearish trend in Asian markets which fell tracking a plunge at Wall Street amid concerns over a rise in US interest rates and heightened conflict in Russia and the Middle East, curbing the appetite for risky assets. China’s Shanghai Composite was trading flat while Hang Seng fell on concerns over a slowdown in growth in the world’s second biggest economy. Japan’s Nikkei 225 was trading deep in the red as Japan’s inflation slowed more than estimated in August, underscoring the challenge for the Bank of Japan as it bids to meet the 2 per cent target. Consumer prices excluding fresh food rose 3.1 per cent, year on year in August 2014, compared to an annual gain of 3.2 per cent projected by analysts. Excluding the sales tax rise, annual inflation was 1.1 per cent, compared to the 2 per cent target. Back home, the Sensex is in a correction phase after a massive rally in recent weeks. Further, investor sentiment may be impacted by the Supreme Court’s decision to cancel most coal blocks allocated since 1993 and slap a USD 1.3 billion penalty that may cause a coal shortage and raise power generation costs in Asia’s third biggest economy.
Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 31086655.00, Jindal Steel & Power Ltd. 16728675.00, Sesa Sterlite Ltd. 12153544.00, NTPC Ltd. 11706208.00 and Power Grid Corporation of India Ltd. 9059825.00
