INDIAN BENCHMARKS are poised to advance for a second day on the trot on Thursday tracking a mostly firm trend across stocks in Asia and a bullish finish at Wall Street overnight as strong US consumer spending data signaled confidence in the health of the world’s biggest economy, bolstering risk taking appetite. SGX Nifty is trading 22.50 points higher. However, caution ahead of the Christmas trading Holiday on Friday and worries over the progress of key reforms such as the Goods and Services Tax (GST) with the Winter Session of Parliament which was a washout, coming to a close on Wednesday, may curb gains at Dalal Street.
The NSE Nifty Trading Tips posted its highest close in three weeks on Wednesday in the absence of foreign selling pressure ahead of year-end holidays, and following overnight gains on Wall Street. The S&P BSE Sensex and CNX Nifty rose 1.01%-1.03% each. On Wednesday (December 23, 2015), 30-share Sensex ended at 25850.3, up by 259.65 points or by 1.01%, and the NSE Nifty settled at 7865.95, up by 79.85 points or by 1.03%.
Global Markets:
- Asian shares were higher in early Asian trade on Thursday, heartened by gains on Wall Street and a recovery in crude oil prices in thin trading ahead of this week's Christmas holiday.
- European shares surged on Wednesday, boosted by gains in commodities stocks on the back of stronger metals and crude oil prices and signs of more economic stimulus measures in China, the world's largest metals consumer.
Major Headlines of the day:
- M&M will launch premium pick-up range 'Imperio' .
- Idea Commences 4G Launch Ahead Of Schedule.
- Nalco inks R&D pact with Chalieco of China.
- SAIL to soon launch Rs400 crore VRS
Trend in FII flows: The FIIs were net sellers of Rs 385.82 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 632.64 Cr, as per the provisional figures released by the NSE.
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