Markets

News Details

( 03 Nov 2017)
Pre Session: Flat opening on cards for Sensex, Nifty; banking stocks in focus

Indian benchmark indices are likely to open flat on Friday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trend across global peers. Markets across Asia were trading mixed after the Wall Street ended on soft note in overnight trade as investors digested the Republicans' tax-reform plan and nomination of Jerome Powell as the next Federal Reserve Governor by the US President Donald Trump. Back home, muted trend in the SGX Nifty Index Futures for November delivery, which were trading at 10,460.50, up by 5.5 points or 0.05 per cent, at 10:46 AM Singapore time, also signaled a flat start for local bourses. On the corporate front, Bharti Airtel will remain in focus after the telecom major said that it will invest Rs 25,000 crore in expanding and strengthening its 4G network during this fiscal year. The investors will also react to earnings number of index heavyweight Vedanta which posted a less than expected consolidated net profit of Rs 2,036 crore in the September quarter, up 43 per cent from the same period last year. Among others, banking stocks will remain in focus as three state-run banks such as Punjab National Bank, Union Bank and UCO Bank will announce their results. On the earnings front, big companies like Edelweiss Financial Services, Godrej Properties, Hindalco, PFC, Shipping Corporation of India, Tata Power, Titan and Torren Pharma will release their quarterly results today.

On Thursday, the key domestic benchmark indices ended trading session on a subdued note as investors booked profits after indices scaled record highs in the previous trading session. The investors also digested the US Federal Reserve policy review as the central bank kept interest rates unchanged, but signaled that it would hike borrowing costs in December. Bucking the trend, the broader markets ended higher, with MIDCAP and SMLCAP indices gaining as much as 0.47 per cent and 0.41 per cent, respectively. On the corporate front, Hero MotoCorp emerged as top losers, falling over 2 per cent, after auto major reported a lower-than-expected growth in net profit for the quarter ended September 30 at Rs 1,010.49 crore. The Bombay Stock Exchange bellwether Sensex closed at 33573.22, down by 27.05 points or by 0.08 per cent, and the NSE Nifty was at 10423.8, down by 16.7 points or by 0.16 per cent.

Top traded volumes on NSE Nifty were ICICI Bank Ltd. 27736221.00, State Bank of India 23110527.00, Bharti Airtel Ltd. 9870544.00, ITC Ltd. 9683859.00, YES Bank Ltd. 9244908.00.

On NSE, total number of shares traded was 181.75 Crore and total turnover stood at Rs. 33909.38 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 135375 with a total turnover of Rs. 12137.60 Crore. Along with this total number of contracts traded in stock futures were 738797 with a total turnover of Rs. 53188.57 Crore. Total numbers of contracts for index options were 9717844 with a total turnover of Rs. 966765.78 Crore and total numbers of contracts for stock options were 439242 with a total turnover of Rs. 32787.61 Crore.

As on November 2, 2017 the FIIs turned as net buyer as net buyer for equity market, but turned net seller in debt segment. Gross equity purchased stood at Rs. 6128.05 Crore and gross debt purchased stood at Rs. 675.36 Crore, while the gross equity sold stood at Rs. 5085.52 Crore and gross debt sold stood at Rs. 971.67 Crore. Therefore, the net investment of equity and debt reported were Rs. 1042.53 Crore and Rs. -296.31.