Pre Session: Markets may open higher amid mixed Asian cues
03/10/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The Indian benchmark indices are set to open higher on Tuesday amid mixed cues from the Asian peers.
The Asian markets have opened on a mixed note pressured by weaker oil prices but supported by records on Wall Street and upbeat economic data that lifted US Treasury yields and the dollar, while Wall Street closed higher in the previous trading session buoyed by gains in technology stocks.
On the economy front, Finance minister Arun Jaitley has indicated that the government would consider reducing the goods and services tax slabs and easing compliance burden for small taxpayers once revenues from GST better those from the previous tax regime, as per a report. Also, Fitch Ratings has lowered India's economic growth forecast for the current fiscal to 6.9 percent from 7.4 percent after the GDP growth unexpectedly dipped in the April-June quarter.
On the corporate front, telecom stocks will be on focus as the commission, the apex decision-making body at the telecom department, approved extension of time-period for the payment of spectrum bought in auctions by telcos to 16 years from the current 10 years.
Positive trends in the SGX Nifty Index Futures for October delivery, which were trading at 9,869, up by 29 points.
03/10/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The Indian benchmark indices are set to open higher on Tuesday amid mixed cues from the Asian peers.
The Asian markets have opened on a mixed note pressured by weaker oil prices but supported by records on Wall Street and upbeat economic data that lifted US Treasury yields and the dollar, while Wall Street closed higher in the previous trading session buoyed by gains in technology stocks.
On the economy front, Finance minister Arun Jaitley has indicated that the government would consider reducing the goods and services tax slabs and easing compliance burden for small taxpayers once revenues from GST better those from the previous tax regime, as per a report. Also, Fitch Ratings has lowered India's economic growth forecast for the current fiscal to 6.9 percent from 7.4 percent after the GDP growth unexpectedly dipped in the April-June quarter.
On the corporate front, telecom stocks will be on focus as the commission, the apex decision-making body at the telecom department, approved extension of time-period for the payment of spectrum bought in auctions by telcos to 16 years from the current 10 years.
Positive trends in the SGX Nifty Index Futures for October delivery, which were trading at 9,869, up by 29 points.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
