INDIAN BENCHMARKS Positive opening seen on D-Street as Fed; F&O expiry in focus
The key Indian equity benchmarks are likely to open on a positive note on Thursday tracking a rally across most Asian markets as traders cheered the US Fed’s signal that it will continue to tread on the slow rate hike path, bolstering the lure for risky assets. Dalal Street may see increased volatility today as traders roll over their positions ahead of the April derivative contracts expiry. SGX Nifty is trading 30.50 points lower.ACC, Ambuja Cement, Idea, HCL Tech and Dabur will be in focus as traders eye their quarterly earnings releases today.
Indian Indices edged higher to post a second session of gains on Wednesday, led by ONGC after crude oil rallied to 2016 highs, but gains were limited ahead of U.S. and Japanese central bank policy decisions. The S&P BSE Sensex and CNX Nifty rose 0.22% respectively.
Most stock markets in Asia rose Thursday before Japan’s central bank decides whether to ease monetary policy further to boost the sluggish economy.
US stocks closed with mixed results on Wednesday 27 April as the tech sector dipped and the Federal Reserve left interest rates unchanged.
European stocks drifted lower on Wednesday morning as positive corporate news failed to offset nervousness ahead of the Federal Reserve's rate decision later today.
Major Headlines of the day:
Nalco to go for toll-smelting of aluminium in Iran.
Biocon expects more filings this year for biosimilars, drugs.
Tata Motors to issue NCDs to raise Rs300 crore.
Trend in FII flows: The FIIs were net sellers of Rs 411Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 295.07 Cr, as per the provisional figures