Stock Trading News :- Indian shares are likely to start in the
green a day following the Union Budget, even as global equities are trading
mixed despite a surge in oil prices. At the time of writing, the SGX Nifty in
Singapore is trading 0.77 percent, or 54 points, higher to 7062. Globally, US
markets closed lower while in Asia, Chinese shares rose after the PBOC eased
monetary policy. Crude oil rose above USD 36 per barrel after Saudi Arabia
pledged to work with other crude producers to limit market volatility. The yen
rose after a G20 meeting offered no concrete action to address concerns about
slow growth and low inflation. Locally, individual stocks will likely see more
action as investors digest details of the Budget presented yesterday by Finance
Minister Arun Jaitley. Analysts said the Budget would help boost consumption in
rural India, kickstarting a vital engine in India's growth story.
F&O Outlook: Nifty PCR-OI has decreased
to 0.88 from 0.90. Fall in the ratio may be due to decrease in PE of 6900 and
increase in CE of 7200. PE of 6800 and CE of 7300 are the highest number of
contracts traded. Opening for the Day: Trading of CNX Nifty futures on the
Singapore stock exchange indicates that the Nifty could gain 36.50 points
at the opening bell.
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