News Details

( 06 Nov 2017)
Pre Session: Soft opening seen for Sensex, Nifty; Reliance Nippon AMC in focus

Indian benchmark indices are likely to open lower on Monday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and mixed trend across global peers. Markets across Asia were trading mostly lower as investors digested earnings reports, while caution prevailed as US President Donald Trump began his Asian tour. On Friday, the Wall Street ended higher amid strong earnings report. Back home, weak trend in the SGX Nifty Index Futures for November delivery, which were trading at 10,426.50, down by 59.5 points or 0.57 per cent, at 10:31 AM Singapore time, also signaled a negative opening for local bourses. As the euphoria over ‘Ease of Doing Business’ ranking eases, the investors will shift focus to GST meeting, corporate results and IPO listing which are likely to set market direction this week. On the economy front, the government may inject nearly Rs 70,000 crore through recapitalisation bonds in the non-performing asset (NPA)-hit public sector banks in the next four months, says a Business Standard report. On the earnings front, big companies like Cipla, Tata Motors, Aurobindo Pharma, M&M, SBI, Coal India and L&T, will release their quarterly results this week. Reliance Nippon Asset Management Company (AMC), which raised Rs 1,540 crore through IPO, will be listed on the local bourses today. The IPO of Anil Ambani-led company, which opened for subscription from October 25 to October 27, in a price band of Rs 247-Rs 252, was oversubscribed by 81.54 times.

On Friday, The key domestic benchmark indices closed at record highs, led by rally in capital goods and financial stocks, while pharma and energy stocks witnessed profit booking as investors took some breather after a prolonged rally. Investors adopted bullish stance after India went up by 30 notches to 100 rank in World Bank's Ease of Doing Business list. Early today, the market witnessed subdued 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. The Bombay Stock Exchange bellwether Sensex closed at 33685.56, up by 112.34 points or by 0.33 per cent, and the NSE Nifty ended at 10452.5, up by 28.7 points or by 0.28 per cent.

Top traded volumes on NSE Nifty were State Bank of India 26898400.00, Bharti Airtel Ltd. 16340958.00, Power Grid Corporation of India Ltd. 14789896.00, Hindalco Industries Ltd. 14396735.00, ICICI Bank Ltd. 14258432.00.

On NSE, total number of shares traded was 193.45 Crore and total turnover stood at Rs. 34160.95 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 136232 with a total turnover of Rs. 12108.25 Crore. Along with this total number of contracts traded in stock futures were 791777 with a total turnover of Rs. 58829.68 Crore. Total numbers of contracts for index options were 2924604 with a total turnover of Rs. 273343.93 Crore and total numbers of contracts for stock options were 495898 with a total turnover of Rs. 38692.88 Crore.

As on November 3, 2017 the FIIs turned as net buyer as net buyer in both equity and debt markets. Gross equity purchased stood at Rs. 5921.01 Crore and gross debt purchased stood at Rs. 1215.22 Crore, while the gross equity sold stood at Rs. 4383.88 Crore and gross debt sold stood at Rs. 605.62 Crore. Therefore, the net investment of equity and debt reported were Rs. 1537.13 Crore and Rs. 609.60.