Market Likely To Open In Green On Positive Global Cues
Chirag Gothi / 17 Nov 2015
Asian stocks gained early on Tuesday, with energy and airline counters leading the rebound, as investors took heart from the rally on Wall Street. A SGX Nifty 50 Index future for November delivery was up 38 points at 7,866. Indian market is likely to open in green due to positive global cues.
Indian equity market bounced back to post its biggest single-day percentage gain in a month on Monday on value buying at lower levels. The Sensex settled 149.57 points up at 25,760.10, while Nifty ended the day above its key 7,800-mark at 7,806.60, up 44.35 points. In the broader market, BSE Midcap and Smallcap indices ended up 0.2-0.5% each.
The WPI figures were more or less in line with street expectations. However, food inflation which increased is a concern. While the WPI remains negative the CPI has started inching up. India's Wholesale Price Index (WPI) inflation contracted for the 12th straight month in October 2015 to a negative -3.81% annually as compared to -4.54 per cent in September 2015, government data showed on Monday.
U.S. stocks snapped a three-session losing streak Monday to close higher amid a belief that the terrorist attacks in Paris do not have a large or lasting impact on the economy. The Dow Jones industrial average ended up about 238 points, or 1.4%. The S&P 500 index climbed 1.5% and the Nasdaq composite index gained 1.2%.
Benchmark U.S. crude oil climbed USD 1, or 2.5%, to close at USD 41.74 a barrel in New York. Brent crude, used to price international oils, rose 9 cents, or 0.2%, to close at USD 44.56 a barrel in London.
European stocks closed mostly higher Monday, but the travel sector slumped following a terrorist attack that killed 132 people in Paris and prompted France to escalate airstrikes in Syria. After recovering from a fall earlier in the session, the Stoxx Europe 600 SXXP rose 0.3% to end at 370.64. France’s CAC 40 closed 0.1% lower at 4,804.31, finishing off its session low after briefly turning positive. Germany’s DAX 30 DAX was up less than 0.1% to close at 10,713.23 while U.K.’s FTSE 100 up 0.5% to 6,146.38.
Asian stocks gained early on Tuesday, with energy and airline counters leading the rebound, as investors took heart from the rally on Wall Street. Japan's Nikkei added 1.55%. Australia’s S&P/ASX 200 Index rose 1.4% and New Zealand’s NZX 50 Index up 0.3%. South Korea’s Kospi index advanced 1.35%. Shanghai Composite index edging up 1.8%
A SGX Nifty 50 Index future for November delivery was up 38 points at 7,866. Indian market is likely to open in green due to positive global cues.
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