Pre Session: Muted opening seen for markets; Tata Motors, HDFC Bank in focus Analysis for Nov 17, 2014

Posted By: Religare
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The key domestic benchmarks are likely to open on a flat note today tracking a mostly negative trend in fellow Asian peers after the world"s third-largest economy Japan unexpectedly entered recession. Missing expectations for a positive figure, Japan's economy dropped into a recession which raises concerned that that Prime Minister Shinzo Abe may put off a second tax increase planned for next year. Back home, investors will keep an hawkish eye on RBI policy review as focus shifted from corporate earnings season to macroeconomic policies. The stocks of Tata Motors, GMR Infrastructure, SpiceJet, ONGC, Sun Pharma will be on focus as they released their earnings after closing hours on Friday. HDFC Bank will also remain in focus after RBI gave nod for FIIs stake buying in the company.

On Friday, the key domestic benchmarks closed at a record high, rallying by over 100 points driven by gains in Metal and Realty shares as investors bet that weakening inflationary pressure may prompt an interest rate cut by the Reserve Bank of India (RBI) at its upcoming meet on December 2. The wholesale price index climbed by 1.77 per cent in October 2014 from the same month a year ago, the lowest pace of rise since September 2009, government data showed on Friday.

The BSE SENSEX closed at 28,046.66, up by 106.02 points or by 0.38 per cent and the NSE Nifty ended at 8,389.9, up by 32.05 points or by 0.38 per cent.

Meanwhile, the BSE MIDCAP closed at 10,154.81, up by 52.64 points or by 0.52 per cent, while the BSE SMLCAP ended at 11,217.39, up by 57.85 points or by 0.52 per cent.

On the Sectoral front, Metal and Realty advanced 2.53 per cent and 2.35 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3303, shares advanced were 1657 while 1519 shares declined and 127 were unchanged.

Top traded Volumes on NSE Nifty were NTPC Ltd. 12612638.00, DLF Ltd. 10545131.00, Hindalco Industries Ltd. 10434031.00, Bharat Heavy Electricals Ltd. 8628445.00, Tata Power Company Ltd. 7347382.00.

On NSE, total number of shares traded was 92.03 Crore and total turnover stood at Rs. 18127.60 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 389114 with a total turnover of Rs. 10472.34 Crore. Along with this total number of contracts traded in stock futures were 898968 with a total turnover of Rs. 27787.09 Crore. Total numbers of contracts for index options were 5498035 with a total turnover of Rs. 122110.08 Crore and total numbers of contracts for stock options were 634604 with a total turnover of Rs. 20596.18 Crore.

The FIIs on 14/11/2014 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 3935.15 Crore and gross debt purchased stood at Rs. 1556.69 Crore, while the gross equity sold stood at Rs. 3251.49 Crore and gross debt sold stood at Rs. 878.60 Crore. Therefore, the net investment of equity and debt reported were Rs. 683.66 Crore and Rs. 678.09.

Story first published: Monday, November 17, 2014, 8:24 [IST]
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