Pre-Session: Sensex, Nifty seen opening higher amid kharif crop MSP hike
05/07/2018
Indian equity markets are expected to open in green on Thursday following government's farm push, however, negative global cues are likely to keep the sentiment in check today.
The Union Cabinet on Wednesday approved a sharp hike in minimum support prices (MSP) of kharif crops for the 2018-19 season in a bid to contain the farm sector distress. The country announces support prices for more than a dozen crops each year to set a benchmark. But analysts say the median hike this year was 25 per cent compared with 3-4 per cent in the last three years, which could hit government finances and stoke inflation.
On the corporate front, shares of ICICI Bank will remain in focus as the Bank aims to grow home loan book to Rs 2 trillion by FY20. Further shares of Yes Bank will also remain in focus after the bank has received SEBI approval to launch mutual fund business.
On the global front, Asian stocks got off to a cautious start on Thursday as investors remained nervous amid a looming deadline for Washington’s proposed tariffs on Chinese imports, leaving financial markets in a state of anxious uncertainty.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.03 per cent after declining 0.4 per cent the previous day. Asia was bereft of the usual leads as the US markets were closed on Wednesday for the Independence Day holiday. Japan’s Nikkei was down 0.1 per cent, South Korea’s KOSPI was flat and Australian stocks rose 0.4 per cent.
The 30-share benchmark index was trading at 35645.4 up by 266.8 points.
05/07/2018
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Indian equity markets are expected to open in green on Thursday following government's farm push, however, negative global cues are likely to keep the sentiment in check today.
The Union Cabinet on Wednesday approved a sharp hike in minimum support prices (MSP) of kharif crops for the 2018-19 season in a bid to contain the farm sector distress. The country announces support prices for more than a dozen crops each year to set a benchmark. But analysts say the median hike this year was 25 per cent compared with 3-4 per cent in the last three years, which could hit government finances and stoke inflation.
On the corporate front, shares of ICICI Bank will remain in focus as the Bank aims to grow home loan book to Rs 2 trillion by FY20. Further shares of Yes Bank will also remain in focus after the bank has received SEBI approval to launch mutual fund business.
On the global front, Asian stocks got off to a cautious start on Thursday as investors remained nervous amid a looming deadline for Washington’s proposed tariffs on Chinese imports, leaving financial markets in a state of anxious uncertainty.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.03 per cent after declining 0.4 per cent the previous day. Asia was bereft of the usual leads as the US markets were closed on Wednesday for the Independence Day holiday. Japan’s Nikkei was down 0.1 per cent, South Korea’s KOSPI was flat and Australian stocks rose 0.4 per cent.
The 30-share benchmark index was trading at 35645.4 up by 266.8 points.
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Free Commodity Tips : Join our Whatsapp No : 9094047040
