Pre Session: Flat opening seen for Sensex, Nifty; Tata Chemicals, Bank of India Q1 eyed
08/08/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Indian equities are likely to open flat with positive bias on Tuesday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and bearish trading across global markets. The Asian stocks were trading mostly lower as strong dollar weighed on equities, while most of investors remained away on vacations. In the overnight trade, Wall Street ended marginally higher, led by gains in technology stocks, while energy companies slipped following the fall in crude oil prices. Back home, muted trend in the SGX Nifty Index Futures for August delivery, which were trading at 10,093.50, down by 4.50 points or 0.04 per cent, at 10:53 AM Singapore time, also signaled a flat opening for local bourses. On the economy front, the markets regulator, the Securities and Exchange Board of India (Sebi), is planning to extend the trading hours for the derivatives market in a bid to provide investors the tool to price in news flow that comes after market hours. Investors will react to earnings report of Tata Steel after the the country’s largest steel producer reported a consolidated net profit of Rs 921 crore in the April-June quarter compared to loss of Rs 3,183 crore in the corresponding period last year, driven by strong performance of domestic operations. Investors will also keep an eye on earnings report of big companies such as Astrazeneca, Bank of India, Jindal Steel, IL&FS Transport, Muthoot Finance, NCC, Tata Chemicals, Thermax and Usha Martin, which will announce their June quarter earnings today.
The Indian benchmarks ended in negative terrain in lackluster trade on Monday, led by losses in IT and Teck space, as investors resorted to profit taking amid concerns over valuations. Outperforming the benchmark indices, the broader markets ended higher, with MIDCAP and SMLCAP indices gaining as much 1.06 per cent and 1.15 per cent, respectively. Tata Steel emerged as top gainers, rising much as 4 per cent, on hopes of strong earnings for the quarter ended June. The 30-share barometer SENSEX closed at 32273.67, down by 51.74 points or by 0.16 per cent, and the NSE Nifty ended at 10057.4, down by 9 points or by 0.09 points.
Top traded Volumes on NSE Nifty were ICICI Bank Ltd. 11870705.00, State Bank of India 11420767.00, Tata Steel Ltd. 11012930.00, Indian Oil Corporation Ltd. 8854820.00, ITC Ltd. 8451267.00.
On NSE, total number of shares traded was 128.80 Crore and total turnover stood at Rs. 24375.13 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 94604 with a total turnover of Rs. 8192.16 Crore. Along with this total number of contracts traded in stock futures were 579528 with a total turnover of Rs. 44939.34 Crore. Total numbers of contracts for index options were 2342093 with a total turnover of Rs. 212873.18 Crore and total numbers of contracts for stock options were 392795 with a total turnover of Rs. 32096.18 Crore.
As on August 07, 2017 the FIIs turned net buyer in debt segment, but turned net seller in equity market. Gross equity purchased stood at Rs. 4321.80 Crore and gross debt purchased stood at Rs. 2048.87 Crore, while the gross equity sold stood at Rs. 5190.50 Crore and gross debt sold stood at Rs. 533.54 Crore. Therefore, the net investment of equity and debt reported were Rs. -868.70 Crore and Rs. 1515.33.
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