Pre-Session –Market seen opening lower; TCS eyed Analysis for Jul 18, 2014

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Tracking mixed cues from Asian peers, the domestic equity market is likely to open on weak on Friday. Even, Nifty India stock futures in Singapore were trading in negative terrain, signaling a flat to lower opening for the domestic bourses. On the global front, Asian peers were trading lower as investors took some breathe after recent strong rally. In overnight trading, Wall Street ended lower on news that a Malaysian Airlines passenger jet crashed near the Ukraine-Russia border. Back home, investors will keep an eye on stocks of India's largest software exporter TCS which has posted better-than-expected earnings for first quarter ended June.

On Thursday, he key domestic benchmark indices ended on a flat note with positive bias after a choppy session of trade during the day as investors remained cautious and booked profits at higher levels. Losses in financials and oil and gas shares capped gains. On the global front, Asian equities dipped on Thursday, giving up earlier modest gains as Chinese shares fell, while the euro probed recent lows against the dollar amid speculation the U.S. Federal Reserve was tilting towards tighter monetary policy.

The BSE SENSEX closed at 25,561.16 up by 11.44 points or by 0.04 per cent, while the NSE Nifty ended at 7640.45 up by 16.05 points or by 0.21 per cent.

During the day"s trade, the BSE Sensex touched intraday high of 25613.03 and intraday low of 25494.46, while the NSE Nifty touched intraday high of 7655.65 and intraday low of 7612.7.

On sectoral front, BSE Metal was the top gaining index up by 2.4 per cent followed by BSE Consumer Durables, Power, Capital goods and Healthcare indices.

In addition, BSE Teck and IT indices ended flat with a positive bias. In contrast, BSE Realty was the top losing index, followed by oil & gas and Auto indices lower between 0.2-0.7 per cent. Bankex ended flat with a negative bias.

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 188.75,+3.91%), Tata Power Company Ltd. (Rs. 108.55,+3.53%), Tata Steel Ltd. (Rs. 558.90,+2.99%), Coal India Ltd. (Rs. 375.70,+2.86%), NTPC Ltd. (Rs. 150.45,+2.63%), among others.

The top losers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1181.35,-3.18%), Bajaj Auto Ltd. (Rs. 2091.70,-2.27%), GAIL (India) Ltd. (Rs. 452.95,-0.91%), Maruti Suzuki India Ltd. (Rs. 2555.00,-0.87%), Tata Consultancy Services Ltd. (Rs. 2381.10,-0.84%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3182, shares advanced were 1817 while 1236 shares declined and 129 were unchanged.

The FIIs turned net buyer in both debt and equity market. Gross equity purchased stood at Rs. 4498.78 Crore and gross debt purchased stood at Rs. 1206.26 Crore, while the gross equity sold stood at Rs. 3861.27 Crore and gross debt sold stood at Rs. 952.40 Crore. Therefore, the net investment of equity and debt reported were Rs. 637.51 Crore and Rs. 253.86.

Top traded Volumes on NSE Nifty were IDFC Ltd. 20301712.00, Hindalco Industries Ltd. 11547823.00, DLF Ltd. 10956763.00, Sesa Sterlite Ltd. 9048706.00, NTPC Ltd. 8216045.00.

On NSE, total number of shares traded was 89.87 Crore and total turnover stood at Rs. 16753.25 Crore.

In the NSE F&O segment, total number of contracts traded in index futures was 306514 with a total turnover of Rs. 11711.09 Crore. Along with this total number of contracts traded in stock futures were 780271 with a total turnover of Rs. 31169.65 Crore. Total numbers of contracts for index options were 2915126 with a total turnover of Rs. 111609.95 Crore and total numbers of contracts for stock options were 354862 with a total turnover of Rs. 14196.83 Crore.

Story first published: Friday, July 18, 2014, 10:12 [IST]
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