At 9:15 AM, the S&P BSE Sensex is trading at 26,617 up 22 points, while NSE Nifty is trading at 8,184 up mere five points.
India’s core infrastructure sectors during grew 4.9% (yoy) in November, which again was slower than the 6.6% in the previous month. The lower base effect, improvement in coal output and rise in electricity generation kept the numbers healthy for now. On the bourses, the banking index fell over a percent on concerns that a cut in lending rates would hurt their bottom lines. Auto stocks swung to their December sales beat with Bajaj Auto falling and Maruti and M&M rising on better numbers.
Crude has clocked in some gains. The rupee may remain under pressure. Bitcoin rose above $1,000 for the first time in three years.
Asian indices opened positive as the 1st day of New Year trade saw optimism across the board as strong data overnight from Europe saw indices hit new highs. With most Asian indices ex Japan under performing in the last 2 months the pull back could be sharper than expected. Bond yields softened while both oil & US$ rose indicating the risk on trade is back.
India’s core infrastructure sectors during grew 4.9% (yoy) in November, which again was slower than the 6.6% in the previous month. The lower base effect, improvement in coal output and rise in electricity generation kept the numbers healthy for now. On the bourses, the banking index fell over a percent on concerns that a cut in lending rates would hurt their bottom lines. Auto stocks swung to their December sales beat with Bajaj Auto falling and Maruti and M&M rising on better numbers.
Crude has clocked in some gains. The rupee may remain under pressure. Bitcoin rose above $1,000 for the first time in three years.
Asian indices opened positive as the 1st day of New Year trade saw optimism across the board as strong data overnight from Europe saw indices hit new highs. With most Asian indices ex Japan under performing in the last 2 months the pull back could be sharper than expected. Bond yields softened while both oil & US$ rose indicating the risk on trade is back.
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