Pre Session-Bearish opening likely for Sensex on Asia weakness amid Fed rate hike fears
17/10/2016 08:16
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Indian equity benchmarks are likely to witness a gap down opening on Monday tracking negative cues from most markets across Asia as bets that the US Federal Reserve is moving closer to tightening interest rates curbs risk taking appetite. Fed Chair Janet Yellen on Friday reiterated her call for gradual rate hikes as robust retail sales data upped the odds of December tightening. Losses in the SGX Nifty Index Futures for October delivery which were trading at 8,564, down by 47 points or 0.55 per cent at 10:14 AM Singapore time, signal that the Sensex may open lower today. The focus this week would be on the September quarter earnings from RIL, Wipro, UltraTech Cement, ACC, Hindustan Zinc, HCL Technologies and Cairn India. The quarterly earnings season has been off to a disappointing start with IT bellwether Infosys being punished for cutting its revenue guidance while TCS disappointed on the revenue front, signalling an uncertain outlook for the country’s IT industry. However, hopes of further policy easing by the RBI in the coming months amid softening inflation may support sentiment at Dalal Street. While consumer inflation hit a 13-month low in September, wholesale inflation eased to 3.57 per cent from 3.74 per cent in August 2016. All eyes on the global front will be on the US presidential debate between Hillary Clinton and Donald Trump on Wednesday. Movement of the rupee against the dollar, foreign investment trend and crude oil prices will also dictate market direction this week. Last week, the 30-share Sensex fell 387.54 points, or 1.38 per cent to end at 27,673.6 as Fed rate hike fears weighed heavily.
Most Asian stocks fell as traders feared a Fed rate hike in the near-term after US retail sales data signaled strength in the world’s biggest economy. Retail sales in the US rose at the quickest pace in three months in September 2016, up 0.6 per cent from the previous month. Shanghai Composite was trading with slim gains, Hang Seng shed almost 1 per cent and Nikkei 225 was tad lower but a weaker yen bolstered the appeal of exporter stocks, supporting sentiment. US stocks closed in the green on Friday helped by better-than-expected earnings from the likes of JP Morgan and Citigroup while worries over a Fed rate hike kept a lid on gains. Top traded Volumes on NSE Nifty – Infosys Ltd. 16730845.00, State Bank of India 12133951.00, ICICI ITC Ltd. 9223856.00 and Idea Cellular Ltd. 7388953.00.
On BSE, total number of shares traded was 25.49 Crore and total turnover stood at Rs. 3423.38 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 182944 with a total turnover of Rs. 12406.25 Crore. Along with this total number of contracts traded in stock futures were 561225 with a total turnover of Rs. 38664.51 Crore. Total numbers of contracts for index options were 2619474 with a total turnover of Rs. 178785.17 Crore and total numbers of contracts for stock options were 532985 with a total turnover of Rs. 34271.94 Crore.
The FIIs on 14/10/2016 stood as net seller in equity and debt. Gross equity purchased stood at Rs. 6286.00 Crore and gross debt purchased stood at Rs. 1560.73 Crore, while the gross equity sold stood at Rs. 7132.00 Crore and gross debt sold stood at Rs. 3440.82 Crore. Therefore, the net investment of equity and debt reported were Rs. -846.00 Crore and Rs. -1880.09 Crore.
17/10/2016 08:16
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Indian equity benchmarks are likely to witness a gap down opening on Monday tracking negative cues from most markets across Asia as bets that the US Federal Reserve is moving closer to tightening interest rates curbs risk taking appetite. Fed Chair Janet Yellen on Friday reiterated her call for gradual rate hikes as robust retail sales data upped the odds of December tightening. Losses in the SGX Nifty Index Futures for October delivery which were trading at 8,564, down by 47 points or 0.55 per cent at 10:14 AM Singapore time, signal that the Sensex may open lower today. The focus this week would be on the September quarter earnings from RIL, Wipro, UltraTech Cement, ACC, Hindustan Zinc, HCL Technologies and Cairn India. The quarterly earnings season has been off to a disappointing start with IT bellwether Infosys being punished for cutting its revenue guidance while TCS disappointed on the revenue front, signalling an uncertain outlook for the country’s IT industry. However, hopes of further policy easing by the RBI in the coming months amid softening inflation may support sentiment at Dalal Street. While consumer inflation hit a 13-month low in September, wholesale inflation eased to 3.57 per cent from 3.74 per cent in August 2016. All eyes on the global front will be on the US presidential debate between Hillary Clinton and Donald Trump on Wednesday. Movement of the rupee against the dollar, foreign investment trend and crude oil prices will also dictate market direction this week. Last week, the 30-share Sensex fell 387.54 points, or 1.38 per cent to end at 27,673.6 as Fed rate hike fears weighed heavily.
Most Asian stocks fell as traders feared a Fed rate hike in the near-term after US retail sales data signaled strength in the world’s biggest economy. Retail sales in the US rose at the quickest pace in three months in September 2016, up 0.6 per cent from the previous month. Shanghai Composite was trading with slim gains, Hang Seng shed almost 1 per cent and Nikkei 225 was tad lower but a weaker yen bolstered the appeal of exporter stocks, supporting sentiment. US stocks closed in the green on Friday helped by better-than-expected earnings from the likes of JP Morgan and Citigroup while worries over a Fed rate hike kept a lid on gains. Top traded Volumes on NSE Nifty – Infosys Ltd. 16730845.00, State Bank of India 12133951.00, ICICI ITC Ltd. 9223856.00 and Idea Cellular Ltd. 7388953.00.
On BSE, total number of shares traded was 25.49 Crore and total turnover stood at Rs. 3423.38 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 182944 with a total turnover of Rs. 12406.25 Crore. Along with this total number of contracts traded in stock futures were 561225 with a total turnover of Rs. 38664.51 Crore. Total numbers of contracts for index options were 2619474 with a total turnover of Rs. 178785.17 Crore and total numbers of contracts for stock options were 532985 with a total turnover of Rs. 34271.94 Crore.
The FIIs on 14/10/2016 stood as net seller in equity and debt. Gross equity purchased stood at Rs. 6286.00 Crore and gross debt purchased stood at Rs. 1560.73 Crore, while the gross equity sold stood at Rs. 7132.00 Crore and gross debt sold stood at Rs. 3440.82 Crore. Therefore, the net investment of equity and debt reported were Rs. -846.00 Crore and Rs. -1880.09 Crore.
