Pre Session: Muted opening seen for Sensex, Nifty; Care Ratings, Somani Ceramics earnings in focus
15/11/2017 08:26
Indian benchmark indices are likely to open on soft note on Wednesday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and mixed trend across global peers. Markets across Asia were trading lower after the Wall Street ended lower in overnight trade as investors remained wary over whether the US government will get tax reform done at all this year. Back home, bearish trend in the SGX Nifty Index Futures for November delivery, which were trading at 10,195.50, down by 32.5 points or 0.32 per cent, at 10:50 AM Singapore time, also signaled a negative opening for local bourses. The market may see stock specific movement in absence of any major development on the domestic or global front. On the economy front, the Government of India launched the BHARAT-22 Exchange Traded Fund (ETF), targeting an initial amount of about Rs 8,000 crore, which received an overwhelming response from investors and was subscribed six times on the opening day. This New Fund Offer is open till November 17, 2017. On the corporate front, investors will react to earnings report of Bank of Baroda and Sun Pharma which posted lower-than-expected earnings for the second quarter ended Sepetmber 30, 2017. On the earnings front, companies including, Care Ratings, Somani Ceramics, HMT, Automotive Axles, Digjam and Golden Tobacco, will release their quarterly results today.

On Tuesday, the Indian benchmarks ended lower in bearish trade, tracking mixed cues from Asian peers, weighed down by selling across capital goods and PSU space. On the sectoral front capital goods and PSU stocks emerged as top losers on BSE, falling as much as 1.42 per cent to 0.92 per cent, respectively. The market sentiments were dented by spike in retail inflation which rose to 7-month high of 3.58 per cent in October due to rate of price rise in the food and vegetable segments, dimming interest rate cut hopes by the Reserve Bank. Footwear retailer Khadim India made a quite debut on the BSE by listing at Rs 727, down 3 per cent against its initial public offer (IPO) price of Rs 750 per share. After making a tepid debut, shares of company fell sharply to close at Rs 688.50 on the BSE. The 30-share benchmark index closed at 32941.87, down by 91.69 points or by 0.28 per cent, and the NSE Nifty ended at 10186.6, down by 38.35 points or by 0.38 per cent.

Top traded volumes on NSE Nifty were Bharti Infratel Ltd. 131335426.00, State Bank of India 25647162.00, ICICI Bank Ltd. 12362405.00, Axis Bank Ltd. 10644657.00, YES Bank Ltd. 9724235.00.

On NSE, total number of shares traded was 153.13 Crore and total turnover stood at Rs. 33869.84 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 177007 with a total turnover of Rs. 15099.43 Crore. Along with this total number of contracts traded in stock futures were 650544 with a total turnover of Rs. 45495.51 Crore. Total numbers of contracts for index options were 4416278 with a total turnover of Rs. 405478.49 Crore and total numbers of contracts for stock options were 445600 with a total turnover of Rs. 32953.39 Crore.

As on November 14, 2017 the FIIs turned as net seller in both equity and debt markets. Gross equity purchased stood at Rs. 4632.82 Crore and gross debt purchased stood at Rs. 2263.31 Crore, while the gross equity sold stood at Rs. 4768.55 Crore and gross debt sold stood at Rs. 2648.67 Crore. Therefore, the net investment of equity and debt reported were Rs. -135.73 Crore and Rs. -385.36.