INDIAN EQUITY MARKET OUTLOOK - 18 FEB 2016

INDIAN BENCHMARKS are set to witness a gap up opening on Thursday tracking a bullish trend in markets across Asia and a strong finish at Wall Street overnight as a rebound in oil prices and hopes that the US Federal Reserve may push back the timetable for further monetary tightening in the world’s biggest economy bolstered risk taking appetite. SGX Nifty is trading 48.00 points higher. Indian stocks fell on Wednesday, following other Asian markets amid signs that Iran will not join in a deal with top oil producers to freeze output at January levels, while sentiment was also hit after the rupee approached a record low. The S&P BSE Sensex and CNX Nifty ended 0.82%-0.85% higher each. On Wednesday (February 17, 2016), 30-share BSE SENSEX closed at 23381.87, gained by 189.90 points, or by 0.82%, and the NSE Nifty ended at 7108.45, rose by 60.20 points, or by 0.85%. Asian shares were trading mixed amid volatility in oil prices after Russia and Saudi Arabia dampened prospects of a supply cut by deciding to freeze the output if other big exporters joined them. Japan’s Nikkei was down 1 per cent, Hong Kong’s Hang Seng was down 0.4 per cent while Singapore’s SGX Nifty and China’s Shanghai Composite had gained 0.2%.

Global Markets:

Asian stocks rose across the board on Thursday as crude oil extended gains on hopes that big producers will cap production, improving investor sentiment for riskier assets.

US stocks closed more than 1.5% higher Wednesday for their largest three-day gain since late August, helped by some recovery in oil prices and encouraging economic data.

European stocks rallied on Wednesday, boosted by optimism over a deal to freeze oil output, with French bank Credit Agricole and miner Glencore leading the bounce.

Major Headlines of the day:

Tata Motors hopeful of resolving crisis at Tata Marcopolo

Ashok Leyland moves court against Nissan

Gati mulls nurturing logistics startups

Trend in FII flows:  

The FIIs were net  sellers of  Rs -560 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 384.53 Cr, as per the provisional figures released by the NSE.

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