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Pre Session: Indices likely to open higher; TCS, Raymond shares in focus

Share Source By

Dion Global

10 Jan 2019

Indian domestic benchmark indices are likely to open higher, tracking dovish Fed minutes and China's commentary on progressive trade talks with US. Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war. China’s commerce ministry said on Thursday trade talks with the United States this week were extensive and detailed, and established a foundation for the resolution of each others’ concerns. Oil prices fell by 1 per cent on Thursday on swelling US supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth. The rupee Wednesday extended its losses by another 25 paise to close at 70.46 as continued rise in global oil prices weighed on sentiments. Back home, bullish trends in the SGX Nifty Index Futures for January delivery, were trading at 10,901.50 up by 26.00 or 0.24 per cent, at 11:00 AM, Singapore Time, also indicated a positive start for local bourses.

Among individual shares, Centrum Broking expects TCS’ revenues to grow 1.8 per cent QoQ in constant currency (CC) terms and USD revenues to grow 1 per cent as cross-currency headwind is likely to cut it by 80 bps. Ministry of Corporate affairs (MCA) had ordered the inspection of books of accounts of Vakrangee for a period of three financial years to be conducted in terms of Section 206(5) of the Companies Act 2013. Raymond’s promoter Gautam Hari Singhania said he will step down as chairman from all group firms and dissociate himself from day-to-day functioning to build an organisation which can run independently. YES Bank has said it has shortlisted the names of potential candidates to succeed MD and CEO Rana Kapoor, who is to demit office by month-end. The 30-benchmark indices closed at 36212.91 up by 231.98 points or by 0.64 per cent and then NSE Nifty was at 10855.15 up by 53 points or by 0.49 per cent.

Top traded Volumes on NSE Nifty – YES Bank Ltd. 63673200.00, ICICI Bank Ltd. 21730142.00, State Bank of India 21109911.00, Infosys Ltd. 18130292.00, Axis Bank Ltd. 18003387.00,

On NSE, total number of shares traded was 126.76 Crore and total turnover stood at Rs. 29799.93 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 355757 with a total turnover of Rs. 24123.47 Crore. Along with this total number of contracts traded in stock futures were 822892 with a total turnover of Rs. 49013.17 Crore. Total numbers of contracts for index options were 17306961 with a total turnover of Rs. 1004267.84 Crore. and total numbers of contracts for stock options were 658410 with a total turnover of Rs. 39837.39 Crore.

As on January 9, 2019, the FIIs stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 3430.34 Crore and gross debt purchased stood at Rs. 762.80 Crore, while the gross equity sold stood at Rs. 4147.41 Crore and gross debt sold stood at Rs. 1566.75 Crore. Therefore, the net investment of equity and debt reported were Rs. -717.07 Crore and Rs. -803.95.