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Pre Session: Sensex, Nifty to open higher; Titan in focus

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Dion Global

07 Jan 2019

Indian benchmark equity indices are set to see a gap-up start on Monday, as a host of global triggers including resumption of US-China talks, US Fed’s dovish comment on rate hike, strong US jobs data and solid Asian trading ensure domestic indices has a good start to the week. Asian shares got off to a rousing start on Monday as a dovish turn by the Federal Reserve and startlingly strong US jobs data soothed some of the market’s worst fears about the global outlook. US President Donald Trump said on Sunday that the talks were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal. Oil prices rose by around 1 per cent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market. Back home, bullish trends in the SGX Nifty Index Futures for January delivery, were trading at 10,882.00 up by 103.50 or 0.96 per cent, at 11:16 AM, Singapore Time, also indicated a positive start for local bourses. The positive global cues suggest the domestic indices may head towards these resistance levels. The rupee, meanwhile, could trade in the 69-73 range to a dollar, with political uncertainty having an exaggerated impact on the local currency in the run-up to the summer’s nationwide balloting.

Among the stocks, Titan expects the full year growth in jewellery business to be around 22 percent; with significantly higher spends on advertising, the EBIT margins in watches segment will be substantially subdued in Q3. Sunteck Realty has issued commercial paper of Rs 35 crore. Reliance Home Finance completes repayment of interest on NCDs of Rs 273 crore. RBI approves Reliance Industries's application for proposed amalgamation of Reliance Holding USA with Reliance Energy Generation & Distribution. ONGC Videsh Limited achieved second consecutive success in an onshore well lndico-1 X, Colombia. Government amalgamates three regional rural banks - Punjab Gramin Bank, Malwa Gramin Bank And Sutlej Gramin Bank. The 30-benchmark indices closed at 35695.1 up by 181.39 points or by 0.51 per cent and then NSE Nifty was at 10727.35 up by 55.1 points or by 0.52 per cent.

Top traded Volumes on NSE Nifty – YES Bank Ltd. 45914917.00, ICICI Bank Ltd. 22896026.00, State Bank of India 19514041.00, Tata Motors Ltd. 17650435.00, Hindalco Industries Ltd. 17408469.00.

On NSE, total number of shares traded was 131.89 Crore and total turnover stood at Rs. 28006.86 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 372025 with a total turnover of Rs. 24924.61 Crore. Along with this total number of contracts traded in stock futures were 795349 with a total turnover of Rs. 46671.40 Crore. Total numbers of contracts for index options were 9708012 with a total turnover of Rs. 581455.96 Crore. and total numbers of contracts for stock options were 565207 with a total turnover of Rs. 33983.67 Crore.

As on January 4, 2019, the FIIs stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 3957.73 Crore and gross debt purchased stood at Rs. 3317.14 Crore, while the gross equity sold stood at Rs. 5015.43 Crore and gross debt sold stood at Rs. 1886.52 Crore. Therefore, the net investment of equity and debt reported were Rs. -1057.70 Crore and Rs. 1430.62.