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Pre Session: Sensex to open flat; Axis Bank, Max India in focus

Share Source By

Dion Global

12 Feb 2019

Indian frontline indices are likely to open flat on Tuesday taking cues from December quarter results, movement of rupee against the US dollar and developments in the US-China trade talks. Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings. The rupee strengthened by 13 paise to close at 71.18 against the US dollar Monday on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies. Back home, bearish trends in the SGX Nifty Index Futures for February delivery, were trading at 10,914.00 down 17.00 by or 0.16 per cent, at 11:04 AM, Singapore Time, also indicated a negative start for local bourses. On the government front, the Centre is seeking to raise around Rs 5,316 crore by selling its 3 per cent stake, owned through the Specified Undertaking of the Unit Trust of India (SUUTI), in private sector lender Axis Bank. The stake sale is aimed at helping North Block meet its budgeted disinvestment target. In terms of earnings, as many as 464 companies will declare their results for the quarter ended December which include names like Balaji Telefilms, Bata India, Coal India, Crisil, DB Realty, HEG, Ipca Laboratories, Jain Irrigations, Lux Industries, Natco Pharma, Oil India, Religare Enterprises, Sun Pharma, Vadilal Industries etc. among others.

On the corporate front, Specified Undertaking of the United Trust of India (SUUTI) to sell up to 5,07,59,949 (representing 1.98 percent of paid-up equity) equity shares of Axis Bank, on February 12 and 13, with an option to additionally sell 2,63,37,187 (1.02 percent) equity shares through offer for sale. Aleor Dermaceuticals, a 60:40 Joint Venture between company and Orbicular Pharmaceutical Technologies, has completed United States Food and Drug Administration inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with two observations. Rahul Khosla to transition from Group President to a Group Advisor role in line with agreed plans; Analjit Singh to become Chairman of Max Life and Max India; Mohit Talwar to become Group Vice Chairman. The 30-share index closed at 36395.03 down by -151.45 points or by -0.41 per cent and then NSE Nifty was at 10888.8 down by -54.8 points or by -0.5 per cent.

Top traded Volumes on NSE Nifty – YES Bank Ltd. 29509227.00, Tata Motors Ltd. 26161867.00, Tata Steel Ltd. 23262314.00, Vedanta Ltd. 18188741.00, State Bank of India 15420017.00.

On NSE, total number of shares traded was 133.48 Crore and total turnover stood at Rs. 27308.20 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 201875 with a total turnover of Rs. 14012.16 Crore. Along with this total number of contracts traded in stock futures were 757309 with a total turnover of Rs. 41892.16 Crore. Total numbers of contracts for index options were 5988104 with a total turnover of Rs. 358307.24 Crore. and total numbers of contracts for stock options were 797289 with a total turnover of Rs. 46000.52 Crore.

As on February 12, 2019, the FIIs stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 4433.54 Crore and gross debt purchased stood at Rs. 4022.83 Crore, while the gross equity sold stood at Rs. 3621.63 Crore and gross debt sold stood at Rs. 1875.77 Crore. Therefore, the net investment of equity and debt reported were Rs. 811.91 Crore and Rs. 2147.06.