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5 reasons why the Indian stock market rose on Monday :-
The first trigger was a statement from the government that it expects monsoon to be normal this year. The agricultural ministry is said to have directed states to chalk out plans to boost crop acreage and production in kharif season starting June. The statement said El Nino condition was declining and La Nina condition is expected take over going forward, which will perhaps favour a good monsoon this year.
The second trigger was a big jump witnessed in US stock index futures, which indicated a higher opening on Friday morning. Dow, S&P and Nasdaq futures rose about half a percent or more in early trade, while the Russell 2000 futures outperformed slightly. New York Fed President William Dudley said a cautious, gradual approach to rate hikes is appropriate. Meanwhile, US President Barack Obama is scheduled to meet Federal Reserve Chair Janet Yellen today. Reports indicate the discussions will touch upon the economy and Wall Street reform.
Thirdly, there was rising expectation that India Inc might surprise positively with fourth quarter earnings after two consecutive disappointing quarters. Some analysts on Dalal Street said sales of Nifty 50 companies will show some improvement in the March quarter for the first time in five quarters while net profit is likely to grow in double digits after a gap of six quarters. Crisil Research projected India Inc to report Ebidta growth of 7 per cent for the quarter ended on March 31, 2016.
Fourthly, Asian stocks edged up as Chinese inflation data fanned optimism that Beijing would continue its loose monetary policies.
Fifthly, European stocks saw a sharp rebound in opening trade. Europe's main indices fell as much as 1 per cent. Japan's yen rose to a 17-month high against the dollar and Germany's 10-year bond yield hit a one-year low. European stocks have fallen for the last four weeks, and another down week would mark their worst run in almost three years. -
The first trigger was a statement from the government that it expects monsoon to be normal this year. The agricultural ministry is said to have directed states to chalk out plans to boost crop acreage and production in kharif season starting June. The statement said El Nino condition was declining and La Nina condition is expected take over going forward, which will perhaps favour a good monsoon this year.
The second trigger was a big jump witnessed in US stock index futures, which indicated a higher opening on Friday morning. Dow, S&P and Nasdaq futures rose about half a percent or more in early trade, while the Russell 2000 futures outperformed slightly. New York Fed President William Dudley said a cautious, gradual approach to rate hikes is appropriate. Meanwhile, US President Barack Obama is scheduled to meet Federal Reserve Chair Janet Yellen today. Reports indicate the discussions will touch upon the economy and Wall Street reform.
Thirdly, there was rising expectation that India Inc might surprise positively with fourth quarter earnings after two consecutive disappointing quarters. Some analysts on Dalal Street said sales of Nifty 50 companies will show some improvement in the March quarter for the first time in five quarters while net profit is likely to grow in double digits after a gap of six quarters. Crisil Research projected India Inc to report Ebidta growth of 7 per cent for the quarter ended on March 31, 2016.
Fourthly, Asian stocks edged up as Chinese inflation data fanned optimism that Beijing would continue its loose monetary policies.
Fifthly, European stocks saw a sharp rebound in opening trade. Europe's main indices fell as much as 1 per cent. Japan's yen rose to a 17-month high against the dollar and Germany's 10-year bond yield hit a one-year low. European stocks have fallen for the last four weeks, and another down week would mark their worst run in almost three years. -
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