Market Ahead, September 12: All you need to know before the Opening Bell
Markets are likely to see a positive start today as trends on SGX Nifty suggest a firm opening for domestic indices
BS Web Team New Delhi
Markets are likely to see a positive start on Wednesday as trends on SGX Nifty suggest a firm opening for domestic indices.
In another important cue, the US market ended higher in the overnight trade and the Asian market had a positive start to the day. On Wall Street, the Dow Jones rose 0.9 per cent, the S&P 500 gained 0.7 per cent, and the Nasdaq added 1 per cent. Asian stocks followed suit. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent and Japan’s Nikkei stock index rose 1 per cent.
The surge in the global markets comes after US President Donald Trump agreed to delay an additional increase in tariffs on Chinese goods by two weeks. Yesterday, China had said it would exempt 16 types of U.S. products from import tariffs.
Later in the day, investors will keenly watch the data on factory output (IIP) for July and retail inflation (CPI inflation) for August, set to be released later in the day, for cues as they continue to await further stimulus from the government to revive consumer sentiment.
Investors also await a meeting of European Central Bank (ECB) later today. With growth slowing, the ECB has all but promised more support for the economy in one of the most closely watched meetings in years.
Besides, market participants are expected to track stock-specific action, oil price movement, and the Rupee's trajectory, and investment by FIIs and DIIs to steer through the day.
More From This Section
In the commodities market, Oil prices slumped more than 2 per cent after a report that Trump weighed easing sanctions on Iran, which could boost global crude supply. US crude settled down $2.87 at $55.75 per barrel and Brent settled at $60.81, down 2.52% on the day.
Back home, the S&P BSE Sensex ended Wednesday's session 0.34 per cent higher at 37,271, and the Nifty50 index ended at 11,036, up 0.3 per cent.
Now, let's take a look at the top headlines for the day -
>> Ruias set to win back control of Mahan Power as ArcelorMittal bid falters;
>> Airfares set to rise 7-9% as Jet Airways crisis squeezes capacity additions;
>> Blackstone to invest Rs 15 bn in Allcargo unit to build warehouses in India; and
>> Rating for Srei Infra Finance downgraded for debentures from AA to A+
And before we wrap, here is a stock recommendation by Tradebulls Securities--
The brokerage recommends selling Wipro at current market price of Rs 248.55, for the target of Rs 240. The stop loss is at Rs 254.
Also Read
Topics :Market Ahead
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Sep 12 2019 | 8:17 AM IST