Pre Session-Gap up opening seen for Sensex on firm Asia trend
06/10/2016 08:11
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Indian equity benchmarks are likely to witness a positive opening on Thursday tracking a bullish trend across markets in Asia and a strong finish at Wall Street overnight as a rally in crude oil prices bolstered energy stocks while upbeat US services data signaled strength in the world’s biggest economy, boosting risk taking appetite. Gains in the SGX Nifty Index Futures for October delivery which were trading at 8,789.50, up by 19 points or 0.22 per cent at 10:20 AM Singapore time, signal that the Sensex may open higher today. An improved outlook for Asia’s third biggest economy amid the 25 basis points interest rate cut by the Reserve Bank of India (RBI) this week which may help revive investment and boost consumption, may support sentiment at Dalal Street. At the same time, India’s services activity lost slight momentum in September, with the PMI easing to 52 from 54.7 in August, but remaining well above the neutral 50-mark. Marking its maiden drop in four sessions, the 30-share Sensex on Wednesday fell by 113.57 points or by 0.40 per cent to end at 28,220.98 on profit taking by traders in bank stocks which had surged after the RBI verdict.
Asian stocks climbed even as bets rose that the US Federal Reserve may cut interest rates this year as data suggested that the US economy was regaining momentum. The US services activity expanded at the fastest pace in almost a year as the PMI rose to 57.1 in September from 51.4 in August. Shanghai Composite remained closed due to a holiday, Hang Seng advanced and Japan’s Nikkei 225 climbed as a weaker yen bolstered the lure for exporter stocks. Wall Street rallied on Wednesday as investors cheered upbeat US services data and a slight advance in August factory orders.
Top traded Volumes on NSE Nifty – State Bank of India 20868556.00, ICICI Bank Ltd. 14581438.00, Bank of Baroda 11698120.00, Idea Cellular Ltd. 10691648.00 and Hindalco Industries Ltd. 10169595.00.
On BSE, total number of shares traded was 63.63 Crore and total turnover stood at Rs. 7770.21 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 199224 with a total turnover of Rs. 14191.01 Crore. Along with this total number of contracts traded in stock futures were 569277 with a total turnover of Rs. 42963.49 Crore. Total numbers of contracts for index options were 3881459 with a total turnover of Rs. 288433.37 Crore and total numbers of contracts for stock options were 289509 with a total turnover of Rs. 22120.24 Crore.
The FIIs on 05/10/2016 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 4953.86 Crore and gross debt purchased stood at Rs. 1000.48 Crore, while the gross equity sold stood at Rs. 4450.14 Crore and gross debt sold stood at Rs. 398.71 Crore. Therefore, the net investment of equity and debt reported were Rs. 503.72 Crore and Rs. 601.77 Crore.
