Pre Session: Markets may open higher amid strong Asian cues 16/08/2017

Pre Session: Markets may open higher amid strong Asian cues
16/08/2017
NIFTY FUT  TREND            : SELL ZONE
BANKNIFTY FUT TREND  : SELL ZONE

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The Indian benchmark indices are set to open higher on Wednesday tracking strong cues from the Asian peers.

The Asian markets have opened higher as investors digested earnings releases from regional corporates and a resurgent dollar, while the Wall Street closed little changed in the previous trading session as declines in retailers following results offset upbeat US retail sales data.

On the economy front, India’s retail inflation picked up to grow at 2.36 percent in July, firming up for the first time in three months, mainly due to an increase in foods prices.

Also, state-owned Coal India Ltd (CIL) will be in focus today as it posted 23 per cent decline in consolidated profit at Rs 2,351.2 crore for the quarter ended June 30, 2017, due to higher expenses.

Also, RIL will be in focus today as the government has imposed a new penalty of USD 264 million (about Rs 1,700 crore) on Reliance Industries Ltd and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in 2015-16.

Also, banking stocks will be in focus today as public sector banks have reported 20 per cent jump in the outstanding loans by nearly 9,000 wilful defaulters who collectively owed to lenders more than 92,000 crores at the end of March this year.

Robust trends in the SGX Nifty Index Futures for August delivery, which were trading at 9814, up by 18.00 points or 0.18 per cent, at 10:17 AM Singapore time, signalled a higher opening for the domestic bourses.

On Monday, snapping five day losing streak, the Indian equity benchmarks ended higher in broad-based rally, tracking firm cues from Asian peers, as investors cheered weak US inflation data which dimmed hopes of another rate hike by the Federal Reserve later this year.

The 30-share barometer SENSEX closed at 31449.03, up by 235.44 points or by 0.75 per cent, and the NSE Nifty ended at 9794.15, up by 83.35 points or by 0.86 per cent.

Top traded Volumes on NSE Nifty – State Bank of India 23773509.00, Sun Pharmaceutical Industries Ltd. 20846332.00, Bank of Baroda 16094565.00, Vedanta Ltd. 12751925.00, Hindalco Industries Ltd. 10891996.00, On NSE, total number of shares traded was 141.18 Crore and total turnover stood at Rs. 23896.76 Crore. On NSE Future and Options, total number of contracts traded in index futures was 156888 with a total turnover of Rs. 12833.73 Crore. Along with this total number of contracts traded in stock futures were 609701 with a total turnover of Rs. 43374.88 Crore. Total numbers of contracts for index options were 3261783 with a total turnover of Rs. 277346.53 Crore. and total numbers of contracts for stock options were 472961 with a total turnover of Rs. 35052.94 Crore. The FIIs on 14/08/2017 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 4134.26 Crore and gross debt purchased stood at Rs. 418.37 Crore, while the gross equity sold stood at Rs. 5963.69 Crore and gross debt sold stood at Rs. 1107.26 Crore. Therefore, the net investment of equity and debt reported were Rs. -1829.43 Crore and Rs. -688.89

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