Pre Session: Sensex, Nifty seen opening higher on firm global cues 23/08/2017

Pre Session: Sensex, Nifty seen opening higher on firm global cues
23/08/2017
NIFTY FUT  TREND            : BUY ZONE
BANKNIFTY FUT TREND  : BUY ZONE

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Indian equities are likely to extend gaining momentum for the second session on Wednesday, tracking positive cues from Nifty futures on the Singapore Stock Exchange and firm trend across global markets as traders anticipated progress on tax reform in the US. Shares were trading higher in Asia on Tuesday following the rally on Wall Street overnight as investors shrugged off geo-political tensions and shifted focus to policy statements from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi which could have significant impact on the market. Back home, bullish trend in the SGX Nifty Index Futures for August delivery, which were trading at 9815.0, up by 26.50 points or 0.27 per cent, at 10:50 AM Singapore time, also signaled a positive opening for local bourses. in a significant development, Bombay Stock Exchange will delist 200 firms with effective from today and bar their promoters from the markets for 10 years as trading in these shares remained suspended for over a decade, reported PTI. On the sectoral front, telecom stocks will remain in focus as the inter-ministerial group on the telecom sector said that they will meet again to further discuss financial stress in the industry. On the corporate front, Fortis Healthcare will remain in focus after Rekha Jhunjhunwala, wife of investor Rakesh Jhunjhunwala, acquired 0.9 per cent stake in Fortis Healthcare at Rs 134.65 per share through a bulk deal on Tuesday. Among others, IT bellwether Infosys will also remain in focus as founder NR Narayana Murthy will hold a conference call today to clear his stand on the ongoing leadership crisis following the exit of its CEO, Vishal Sikka.

Snapping two-day losing streak, the Indian equity benchmarks ended higher on Tuesday, tracking firm cues from Asian markets, as investors engaged in bargain hunting, even as global markets remain fragile in the backdrop of ongoing geopolitical tensions. The cautioned prevailed in the market ahead of policy statements from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi which could set future direction for bourses. On the sectroal front, oil&gas and pharma stocks emerged as top gainers, rising as much as 1.31 per cent and 0.77 per cent, respectively. The 30-share barometer SENSEX closed at 31291.85, up by 33 points or by 0.11 per cent, and the NSE Nifty ended at 9765.55, up by 11.2 points or by 0.11 per cent.

Top traded Volumes on NSE Nifty were Infosys Ltd. 24621299.00, Bank of Baroda 17697793.00, Hindalco Industries Ltd. 12201333.00, ITC Ltd. 11956919.00, State Bank of India 11814388.00.

On NSE, total number of shares traded was 115.87 Crore and total turnover stood at Rs. 23680.89 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 247047 with a total turnover of Rs. 20272.42 Crore. Along with this total number of contracts traded in stock futures were 702704 with a total turnover of Rs. 49305.84 Crore. Total numbers of contracts for index options were 6014407 with a total turnover of Rs. 518254.98 Crore and total numbers of contracts for stock options were 557141 with a total turnover of Rs. 40322.26 Crore.

As on August 22, 2017 the FIIs turned net seller in equity market but turned net buyer in debt segment. Gross equity purchased stood at Rs. 4312.11 Crore and gross debt purchased stood at Rs. 1781.12 Crore, while the gross equity sold stood at Rs. 6101.47 Crore and gross debt sold stood at Rs. 491.28 Crore. Therefore, the net investment of equity and debt reported were Rs. -1789.36 Crore and Rs. 1289.84.

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