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Pre Session: Sensex, Nifty seen opening higher on firm global cues; Tata Steel shares in focus

Share Source By

Dion Global

09 Jan 2019

Indian benchmark indices are likely to edge higher, tracking overnight gains in US stocks, ahead of the start of the earnings season. Asian shares inched up on Wednesday, supported by optimism the United States and China can strike a trade deal to avoid an all-out confrontation that will severely disrupt the global economy. The United States and China will continue trade talks in Beijing for an unscheduled third day on Wednesday, amid signs of progress on issues including purchases of U.S. farm and energy commodities and increased access to China's markets. U.S. President Donald Trump is increasingly eager to strike a deal with China soon in an effort to perk up financial markets that have slumped on concerns over the trade war, citing people familiar with internal White House deliberations. International Brent crude futures were up 42 cents, or 0.7 per cent, at $59.14 per barrel. Back home, bullish trends in the SGX Nifty Index Futures for January delivery, were trading at 10,919.50 up by 82.00 or 0.76 per cent, at 11:06 AM, Singapore Time, also indicated a positive start for local bourses. The Indian rupee on January 8 plunged by 53 paise to close at 70.21 against the US dollar amid renewed concerns over the widening of current account deficit following a constant rise in global crude oil prices.

Among individual stocks, Indian Bank’s board approved raising of capital funds by way of equity including Employees Share Purchase Scheme and / or AT1 and Tier 2 Bonds. Company fixed record date for buyback of equity shares as January 18. Total sales of Tata Steel (provisional) in Q3FY19 fall to 6.77 million tonnes versus 7.36 million tonnes YoY. Oriental Bank of Commerce sold 0.8425 percent equity stake in NSDL e-Governance Infrastructure out of 3.125 percent equity stake. The 30-benchmark indices closed at 35850.16 up by 155.06 points or by 0.43 per cent and then NSE Nifty was at 10771.8 up by 44.45 points or by 0.41 per cent.

Top traded Volumes on NSE Nifty – YES Bank Ltd. 40559174.00, State Bank of India 22949961.00, ICICI Bank Ltd. 21501136.00, Tata Motors Ltd. 20128985.00, Vedanta Ltd. 14295380.00,

On NSE, total number of shares traded was 114.43 Crore and total turnover stood at Rs. 26091.06 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 279331 with a total turnover of Rs. 18882.17 Crore. Along with this total number of contracts traded in stock futures were 725957 with a total turnover of Rs. 43262.96 Crore. Total numbers of contracts for index options were 10953282 with a total turnover of Rs. 637926.28 Crore. and total numbers of contracts for stock options were 465987 with a total turnover of Rs. 28369.88 Crore.

As on January 8, 2019, the FIIs stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 4309.60 Crore and gross debt purchased stood at Rs. 1707.21 Crore, while the gross equity sold stood at Rs. 4005.04 Crore and gross debt sold stood at Rs. 1586.02 Crore. Therefore, the net investment of equity and debt reported were Rs. 304.56 Crore and Rs. 121.19.