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Nifty may open gap up on firm global cues

Yatheendradas C.k. at 08:36 AM - Oct 06, 2016 ( ) Views: 254

Pre-markets: Nifty may open gap up on firm global cues; Reliance Infra, Bank of India in focus today

The BSE Sensex and NSE Nifty are likely to open higher on Thursday on the back of firm global cues. The 30-share index plunged 114 points on Wednesday after Europe turned shaky over talk of withdrawal of ECB stimulus and on profit-booking in recent outperformers. Nifty closed 25.20 points down at 8,743.95. Below are 5 […]

By: FE Online | New Delhi | Published: October 6, 2016 8:23 AM

The BSE Sensex and NSE Nifty are likely to open higher on Thursday on the back of firm global cues. The 30-share index plunged 114 points on Wednesday after Europe turned shaky over talk of withdrawal of ECB stimulus and on profit-booking in recent outperformers. Nifty closed 25.20 points down at 8,743.95.

Below are 5 things you should know before market opens on Thursday:

1) Nifty futures on the Singapore Stock Exchange were trading 15 points, or 0.17 per cent, higher at 8785.50 in the morning trade, indicating a postive start for domestic equity markets.

2) Asian shares firmed on Thursday, encouraged by stronger US economic data and a rise in oil prices, while growing prospects of a US rate hike hit gold and the boosted the dollar to one-month highs versus the yen. Hang Seng and Nikkei were trading higher by 0.29 per cent and 0.57 per cent, respectively, in the morning trade.

3) On Wall Street, the Dow Jones Industrial Average index jumped 112.58 points, or 0.6 per cent, to 18,281.03 on Wednesday. The Standard & Poor’s 500 index advanced 9.24 points, or 0.4 per cent, to 2,159.73 and Nasdaq Composite index gained 26.36 points, or 0.5 per cent, to 5,316.02.

4) Oil prices eased on Thursday but remained near June highs reached the previous session when they were buoyed by a fall in US crude inventories.

5) Shares of Reliance Infrastructure, Bank of India and Syndicate Bank will remain in focus on Thursday. Anil Ambani-led Reliance Infrastructure on Wednesday signed an agreement to sell its power transmission assets to Adani Group for over Rs 2,000 crore. Bank of India and Syndicate Bank announced their new marginal cost of funds based (MCLR) lending rates on Wednesday, a day after RBI cut repo rate by 0.25 per cent.

 
 
 


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