Pre Market Report : 14.01.2019
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Pre Session: Indices likely to open flat; Infosys, J&K Bank shares in focus
14/01/2019 08:43
Domestic stock indices are likely to open on a flat-to-positive note on Monday, ahead of monthly inflation data scheduled for later in the day. Asian shares camped near 1-1/2 month highs on Monday as investors kept a wary eye on looming Chinese trade data on increasing signs a slowdown in the world’s second-biggest economy is dragging on global growth. Oil prices edged up on Monday, supported by ongoing supply cuts from producer club OPEC and Russia and by a drop in US drilling activity. International Brent crude oil futures were at $60.75 per barrel at 0040 GMT, up 27 cents, or 0.5 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were up 22 cents, or 0.4 percent, at $51.81 a barrel. On the government front, the finance ministry and the Reserve Bank of India are expected to soon work out some relaxation in the prompt corrective action (PCA) framework for stressed banks. Wholesale Price Index or WPI inflation is also likely to soften to 4.13 per cent YoY in December 2018 from 4.6 per cent in the previous month. A lower base is likely to have an adverse impact on WPI inflation, but this will be offset to a large extent by soft food prices and the decline in fuel prices. Core WPI inflation is also likely to soften to 4.99 per cent from 5.22 per cent earlier. Back home, bullish trends in the SGX Nifty Index Futures for January delivery, were trading at 10,830.00 up by 13.00.
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