Pre-Session- Gap down opening seen at Dalal Street; Wipro Q2 eyed
21/10/2016 08:33
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Indian equity benchmarks are likely to witness a negative opening on Friday amid flattish trade in most markets across Asia and a bearish finish at Wall Street overnight as the latest batch of corporate earnings from Europe and the US signaled a mixed outlook for the world economy, while the rally in crude oil fizzled out amid doubts that leading producers will cut output, curbing risk taking appetite. Losses in the SGX Nifty Index Futures for October delivery which were trading at 8,694.5, down by 12.5 points or 0.14 per cent at 10:40 AM Singapore time, signal that the Sensex may open lower today. Shares of ACC, Wipro and Cairn India will be in focus as these companies reveal their September quarter earnings. IT exporter Wipro may witness a 0.4 per cent drop in sequential dollar revenue at USD 1923.5 million in Q2 FY 2016-17, analysts’ estimate. Meanwhile, shares of RIL may witness some upward movement after the company in after-market hours on Thursday reported an 18.5 per cent rise in standalone net profit at Rs 7,404 crore for the July-September 2016 quarter, beating street estimates amid an impressing showing of its core refining and petrochemicals business. On the economic front, the RBI has allowed 100 per cent FDI in regulated financial services companies excluding banks and insurance companies, a move aimed at boosting foreign investment in Asia’s third biggest economy. The 30-share Sensex on Thursday advanced by 145.47 points or by 0.52 per cent to end at a two-week high of 28,129.84 led by gains in financial shares, upbeat corporate earnings and strong global cues as Democrat Hillary Clinton was declared by polls as the winner of the final US Presidential debate against Republican nominee Donald Trump, helping her to maintain her edge in the race for the White House.
Asian stocks were trading mostly flat as string of mixed corporate earnings and a drop in oil prices clouded the outlook for the global economy. However, sentiment was supported by the European Central Bank’s indication that its ongoing QE plan may extend beyond the scheduled end date of March 2017. Shanghai Composite was little changed, Hang Seng was closed today and Nikkei 225 rose as exporters climbed on optimism over corporate earnings. US stocks fell on Thursday amid disappointing results from the likes of Verizon Communications Inc. and EBay Inc. US economic data was mostly positive as existing home sales rose 3.2 per cent in September, a leading index climbed 0.2 per cent last month but jobless claims surged by 13,000 last week, the biggest increase since July.
Top traded Volumes on NSE Nifty – ICICI Bank Ltd. 32981980.00, State Bank of India 14179531.00, Idea Cellular Ltd. 11699546.00, Hindalco Industries Ltd. 8035617.00 and Adani Ports & Special Economic Zone Ltd. 7256284.00.
On BSE, total number of shares traded was 38.69 Crore and total turnover stood at Rs. 3424.71 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 236765 with a total turnover of Rs. 16763.42 Crore. Along with this total number of contracts traded in stock futures were 598556 with a total turnover of Rs. 44873.39 Crore. Total numbers of contracts for index options were 6641602 with a total turnover of Rs. 492957.21 Crore. and total numbers of contracts for stock options were 466854 with a total turnover of Rs. 35719.33 Crore.
The FIIs on 20/10/2016 stood as net seller in equity and debt. Gross equity purchased stood at Rs. 4235.93 Crore and gross debt purchased stood at Rs. 1367.83 Crore, while the gross equity sold stood at Rs. 4531.47 Crore and gross debt sold stood at Rs. 1519.54 Crore. Therefore, the net investment of equity and debt reported were Rs. -295.54 Crore and Rs. -151.71 Crore.
