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Pre Session: Sensex, Nifty seen opening higher; Tata Global Beverages in focus

Share Source By

Dion Global

27 Dec 2018

Indian equities may open higher on Thursday, tracking bullish trends in SGX Nifty Index Futures and mixed cues from global peers. The domestic markets are likely to take cues from their Asian peers which have risen following an overnight rise in the Wall Street. That apart, market participants are expected to square off their positions ahead of the expiry of December-series futures and options (F&O) contracts. Back home, bullish trends in the SGX Nifty Index Futures were trading at 10,801.50 up by 40.00 or 0.37 per cent, at 11:08 AM, Singapore Time, also indicated a positive start for local bourses. The shares of Jet Airways, Bank of Baroda, ACC, Axis Bank, Indiabulls Housing Finance, Union Bank will be in focus. Meanwhile, the rupee trimmed its early sharp gains to settle 8 paise higher at 70.06 against the US currency mainly due to dollar buying by importers in the last hour of trade. Whereas, US oil prices on Thursday extended their sharp climb from the session before amid rising stock markets, but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains.

On the domestic front, shares of Tata Global Beverages will be in focus after CARE reaffirmed its A1+ rating in respect of company's securities and borrowings for commercial papers of Rs 7.15 billion. The rupee trimmed its early sharp gains to settle 8 paise higher at 70.06 against the US currency mainly due to dollar buying by importers in the last hour of trade. US oil prices on Thursday extended their sharp climb from the session before amid rising stock markets, but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains. The fight between the National Anti-profiteering Authority (NAA) and the largest fast-moving consumer goods firm is set to get uglier. After one and a half years of the goods and services tax (GST) coming into effect, Hindustan Unilever (HUL) is planning to take the NAA to court after the authority sent it a fresh order seeking Rs 2.23 billion. This could be the first instance when a consumer goods company would move court against the NAA. The 30-share benchmark index closed marginally higher on Wednesday trading at 35649.94 up by 179.79 points or by 0.51 per cent, while the NSE Nifty was at 10729.85 up by 66.35 points or by 0.62 per cent.

Top traded Volumes on NSE Nifty – YES Bank Ltd. 47421246.00, Indian Oil Corporation Ltd. 18564231.00, State Bank of India 12684324.00, Tata Motors Ltd. 12044191.00, Vedanta Ltd. 9449698.00,

On NSE, total number of shares traded was 124.79 Crore and total turnover stood at Rs. 27416.78 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 669935 with a total turnover of Rs. 46891.80 Crore. Along with this total number of contracts traded in stock futures were 2005831 with a total turnover of Rs. 114675.86 Crore. Total numbers of contracts for index options were 20833064 with a total turnover of Rs. 1298078.81 Crore. and total numbers of contracts for stock options were 1065802 with a total turnover of Rs. 63164.88 Crore.

As on December 26, 2018, the FIIs stood as net buyer in equity market and debt market. Gross equity purchased stood at Rs. 1767.69 Crore and gross debt purchased stood at Rs. 1140.52 Crore, while the gross equity sold stood at Rs. 2640.68 Crore and gross debt sold stood at Rs. 582.30 Crore. Therefore, the net investment of equity and debt reported were Rs. -872.99 Crore and Rs. 558.22.