Pre Session- Sensex to open higher on Asia trend 29/09/2014

Pre Session- Sensex to open higher on Asia trend
29/09/2014 08:33
The key domestic benchmarks are likely to open higher today tracking a positive trend in Asian markets as investors’ cheered robust Q2 US GDP data which showed that the world’s biggest economy grew at the fastest clip since Q4 2011 last quarter, boosting the appetite for risky assets. US economy grew at annualized rate of 4.6 per cent in the April-June quarter of 2014 from the previous quarter, up from a prior estimate of annualized 4.2 per cent expansion. China’s Shanghai Composite rose ahead of tomorrow’s manufacturing PMI which may show a pickup in factory growth. Hang Seng tumbled amid a political crackdown on protestors. Japan’s Nikkei 225 rose as a weaker yen boosted the appeal of exporter stocks. Back home, caution ahead of the RBI policy meet tomorrow where the central bank is expected to maintain status quo on interest rates, may trim gains in the Sensex. Investors will also be eying the Prime Minister Narendra Modi’s US visit aimed at improving strategic ties between the two nations amid a drive to boost foreign investment. RBI policy meet, Modi’s US visit and global cues will drive the Sensex in the holiday-shortened week with markets closed on Thursday and Friday on the occasion of Mahatma Gandhi Jayanthi and Dussehra respectively.

Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 13351556.00, Jindal Steel & Power Ltd. 12813197.00, Sun Pharmaceutical Industries Ltd. 10008066.00, IDFC Ltd. 7563712.00 and DLF Ltd. 7278970.00.