Key indices may edge lower in early trade

Trading of SGX CNX Nifty Index Futures on the Singapore Stock Exchange indicates that the key equity benchmark indices in India may edge lower in early trade. SGX CNX Nifty Index Futures for July 2015 on the Singapore Stock Exchange were currently trading 27 points lower at 8,357.50. In overseas markets, Asian stocks were in green. There was little immediate reaction when the International Monetary Fund (IMF) confirmed Greece had missed a payment on its debt. The debt repayment was due yesterday, 30 June 2015.

Data released by the government after trading hours yesterday, 30 June 2015, showed that the output of Eight Core Industries increased 4.4% in May 2015 over May 2014. The cumulative growth during April to May 2015 was 2.1% over the corresponding period in the previous year.

PSU OMCs will be in focus after announcing a reduction in petrol and diesel prices after trading hours yesterday, 30 June 2015. Indian Oil Corporation (IOCL) reduced retail selling price of petrol by Rs 0.31 a litre at Delhi (including state levies) with corresponding price revision in other states. The price reduction is effective from midnight of 30 June 2015/1 July 2015. The company announced reduction in retail selling price of diesel by Rs 0.71 a litre at Delhi (including state levies) with corresponding price revision in other states.

A recovery in European stocks aided upmove on the domestic bourses yesterday, 30 June 2015. The barometer index, the S&P BSE Sensex, rose 135.68 points or 0.49% to settle at 27,780.83.

Foreign portfolio investors (FPIs) offloaded shares worth a net Rs 551.38 crore yesterday, 30 June 2015. Domestic institutions bought shares worth a net Rs 580.59 crore yesterday, 30 June 2015.

In overseas markets, Asian stocks edged higher today, 1 July 2015, as investors appear to take in stride Greece's missed loan payment to the IMF. Key equity benchmark indices China, Japan, Indonesia, South Korea, Singapore and Taiwan were up 0.22% to 0.95%.

Global markets stabilized even as Greece ended up defaulting on its euro 1.55 billion loan ($1.73 billion) to the International Monetary Fund, with creditors rejecting a last-ditch effort to buy more time.

In China, HSBC China manufacturing purchasing managers' index, a gauge of nationwide manufacturing activity, rose to a final reading of 49.4 in June from 49.2 in May, HSBC Holdings PLC and research firm Markit said today, 1 July 2015.

China's official manufacturing purchasing managers index was flat at 50.2 in June compared with a month ago, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, said in a statement. China's official nonmanufacturing purchasing managers' index rose to 53.8 in June from 53.2 in May.

US stocks ended a choppy trading session higher yesterday, 30 June 2015. News from Greece dominated the trading day.

Powered by Capital Market - Live News