Thursday, 19 January 2017

Sensex, Nifty may see weak opening; Axis Bank, YES Bank in focus

Indian equities may be slightly weaker, tracking movements on SGX Nifty. Asian markets are trading higher with the Nikkei up 1 percent on the back of a weaker yen. The drop in currency boosted export-oriented shares in the trade. Meanwhile, the Korean market is trading flat. On the Wall Street, stocks closed mostly higher riding on rise in financials after Federal Reserve Chair Janet Yellen’s comments on gradually raising interest rates. 

Financials have rallied since the US election on expectations of higher rates and of reduced regulations under President-Elect Donald Trump. However, yields on 10-year treasuries climbed 10 basis points to 2.42 percent. The S&P 500 ended slightly higher, while the Dow Jones closed down 0.11 percent.

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