MUMBAI, NOV 30:
The benchmark BSE Sensex rose over 45 points to 26,175.16 in the morning trade, extending gains for the third straight session, as investors indulged in widening their positions ahead of GDP data for the September quarter.Similarly, the NSE index Nifty was up 7.45 points or 0.09 per cent at 7,950.15.However, caution prevailed ahead of RBI’s fifth bi-monthly monetary policy review tomorrow and continuing fund outflows by foreign investors amid weakness in other Asian markets.

Early trade

The Nifty and the Sensex opened and traded flat on weak global cues. The Nifty opened seven points down at 7,936, while the Sensex opened 15 points up at 26,143.A report by SMC Global said: “U.S. stocks ended narrowly mixed in a shortened session on last trading day after oil prices declined. Chinese market opened higher and other Asian equities traded mostly in the red. Indian growth data will be announced today and on Tuesday, government is expected to present GST Bill in Parliament and also RBI would review its monetary policy. French consumer spending measures -0.7% vs 0.1% earlier, the change in the inflation-adjusted value of all goods expenditures by consumers. Consumer spending accounts for the majority of economic activity and Consumer Price Index (CPI) measures 0.3% vs 0.6%, the change in the price of goods and services from the perspective of the consumer.

Japan’s industrial output rose for a second straight month in October, a sign of a gradual pickup in factory activity as a fall in exports levels off – a potentially optimistic omen for the economy’s ability to recover from a recession.”All sectoral indices barring Nifty Auto and Niftty Realty were trading flat. Volatility was up 2.31 per cent with the India Vix ruling at 17.1175.

Brokers’ comment

Brokers said pick-up in buying by participants ahead of GDP data for the September quarter, to be released later in the day, and hopes that the government will push for a compromise on the GST Bill in the ongoing winter session of Parliament, influenced the trading sentiment.
They said, however, a weak trend in other Asian markets as investors await key US jobs figures and a European Central Bank meeting later this week, limited the gains.Among other Asian markets, Japan’s Nikkei lost 0.79 per cent while Shanghai’s Composite index shed 1.19 per cent in early trade. Hong Kong’s Hang Seng index was down 0.31 per cent.The US Dow Jones Industrial Average ended 0.08 per cent down in Friday’s trade.

Courtesy : thehindubusinessline.com

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