Pre Session: Markets may open lower amid weak Asian cues
14/06/2018
The Indian benchmark indices are set to open lower on Thursday amid weak cues from other Asian peers.
The Asian markets have opened on a lower note after the Federal Reserve raised interest rates and took a more hawkish tone while concerns about US-China trade frictions kept investors on edge, while Wall Street closed lower in the previous trading session after the US Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year.
On the economy front, markets may react to a report from Fitch Ratings which raised India growth forecast for 2018-19 to 7.4 percent from 7.3 percent, but cited higher financing costs and rising oil prices as risks to growth. Also, the RBI said that Current account deficit (CAD) jumped over three times to USD 48.7 billion, or 1.9 percent of the country's GDP, in FY18 from USD 14.4 billion or 0.6 percent in the previous year, driven by higher trade deficit, Also, traders and investors are closely awaiting a series of domestic and global events this week including wholesale price index (WPI) inflation data scheduled to be released today.
On the IPO front, Indian additives maker Fine Organic Industries Ltd has set a price range of Rs 780-783 a share for an initial public offering (IPO) that will open on June 20.
Muted trends in the SGX Nifty Index Futures for June delivery, which were trading at 10,818, down by 27 point.
14/06/2018
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The Indian benchmark indices are set to open lower on Thursday amid weak cues from other Asian peers.
The Asian markets have opened on a lower note after the Federal Reserve raised interest rates and took a more hawkish tone while concerns about US-China trade frictions kept investors on edge, while Wall Street closed lower in the previous trading session after the US Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year.
On the economy front, markets may react to a report from Fitch Ratings which raised India growth forecast for 2018-19 to 7.4 percent from 7.3 percent, but cited higher financing costs and rising oil prices as risks to growth. Also, the RBI said that Current account deficit (CAD) jumped over three times to USD 48.7 billion, or 1.9 percent of the country's GDP, in FY18 from USD 14.4 billion or 0.6 percent in the previous year, driven by higher trade deficit, Also, traders and investors are closely awaiting a series of domestic and global events this week including wholesale price index (WPI) inflation data scheduled to be released today.
On the IPO front, Indian additives maker Fine Organic Industries Ltd has set a price range of Rs 780-783 a share for an initial public offering (IPO) that will open on June 20.
Muted trends in the SGX Nifty Index Futures for June delivery, which were trading at 10,818, down by 27 point.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
