Pre Session: Gap down opening seen for Sensex, Nifty; RBI policy eyed : 08/02/2017 08:37

Pre Session: Gap down opening seen for Sensex, Nifty; RBI policy eyed : 08/02/2017 08:37
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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Indian equities are set to open lower on Wednesday, undermining firm cues from fellow Asian peers and positive closing of Wall Street in overnight trade, as caution prevailed in the market ahead of the Reserve Bank policy review later today. Muted trend in the SGX Nifty Index Futures for February delivery, which were trading at 8,788.50, down by 11 points or 0.13 per cent, at 11:00 AM Singapore time, also signaled a flat to negative opening for Sensex. There is strong optimism in the market that the Reserve Bank may lower rate by at least 25 bps as easing inflation create room for a possible rate cut. The fall in crude oil prices and weakness in rupee may also weigh on equity market. The traders would also react to earnings reports as 180 companies will unveil their quarterly results today, including Hero MotoCorp, Tata Chemicals, Cipla, NTPC, Bharat Forge, Coffee Day Enterprises, and United Brewer.

Snapping four day gaining streak, the key domestic benchmarks ended lower on Tuesday, weighed down by losses in rate sensitive auto and realty stocks, as investors resorted to profit booking ahead of the RBI policy review due tomorrow. The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 8335.16, down by 104.12 points or by 0.37 per cent, and the NSE Nifty ended at 8768.3, down by 32.75 points or by 0.37 per cent.

Top traded Volumes on NSE Nifty were Bharat Heavy Electricals Ltd. 45093133.00, ITC Ltd. 24315156.00, Idea Cellular Ltd. 16396272.00, ICICI Bank Ltd. 11663002.00, State Bank of India 10981984.00.

On NSE, total number of shares traded was 184.79 Crore and total turnover stood at Rs. 30695.96 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 151437 with a total turnover of Rs. 10951.08 Crore. Along with this total number of contracts traded in stock futures were 642362 with a total turnover of Rs. 46320.06 Crore. Total numbers of contracts for index options were 2531475 with a total turnover of Rs. 186880.31 Crore and total numbers of contracts for stock options were 394856 with a total turnover of Rs. 29795.72 Crore.

As on February 07 2017, the FIIs stood as net seller in equity but net buyer in debt segments. Gross equity purchased stood at Rs. 4126.79 Crore and gross debt purchased stood at Rs. 3388.81 Crore, while the gross equity sold stood at Rs. 4569.23 Crore and gross debt sold stood at Rs. 1077.49 Crore. Therefore, the net investment of equity and debt reported were Rs. -442.44 Crore and Rs. 2311.32.