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Pre Session: Bearish trend may continue on D-street; CPI, IIP data eyed Analysis for Jun 12, 2015

By Religare

The Indian equity benchmarks may see negative opening on Friday, ignoring firm cues from Asian peers who were trading higher on hopes of monetary easing in the region and improving situation in Greece. Meanwhile, Wall Street ended higher in overnight trade as retail sales data lifted the outlook for consumer spending. Back home, investors will keep an eye on the macro data which will be released later in the day. After shrink in current account deficit, any improvement in the Index of Industrial Production (IIP) and CPI inflation will be a major boost to the economy. Further, a negative opening of the SGX CNX Nifty Index futures for June delivery further validates a bearish opening for domestic bourses. Undermining shrink in current account deficit and firm global cues, the Indian benchmark indices nosedived on Thursday, emerging as worst performing equity in Asia today. Weak monsoon forecast and caution ahead of key macro data, IIP and CPI, weighed on investors sentiment. The investors booked profit in stocks after market rebounded strongly yesterday.


On the sectoral front, all the sectoral indices ended in red, led by decline in bankex index followed by BSE Auto index, Power, Consumer Durables and Information Technology indices. Banking sector dropped heavily on account of profit-booking after the RBI allowed banks to take control of debt-laden companies by converting loans into equity. The BSE SENSEX closed at 26370.98, down by 469.52 points or by 1.75 per cent and then NSE Nifty was at 7965.35, down by 159.1 points or by 1.96 per cent.

The BSE MIDCAP was at 10088.07, down by 182.7 points or by 1.78 per cent while the BSE SMLCAP was at 10612.18, down by 167.57 points or by 1.55 per cent.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2763, shares advanced were 791 while 1860 shares declined and 112 were unchanged.

Top traded Volumes on NSE Nifty were State Bank of India 20857622.00, ICICI Bank Ltd. 19782305.00, Tata Motors Ltd. 9668308.00, Vedanta Ltd. 8432192.00, Axis Bank Ltd. 7608358.00. On NSE, total number of shares traded was 81.98 Crore and total turnover stood at Rs. 15405.69 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 905589 with a total turnover of Rs. 22335.63 Crore. Along with this total number of contracts traded in stock futures were 908902 with a total turnover of Rs. 23213.75 Crore. Total numbers of contracts for index options were 10293210 with a total turnover of Rs. 223253.42 Crore and total numbers of contracts for stock options were 442549 with a total turnover of Rs. 11246.59 Crore.


The FIIs on 11/06/2015 stood as net seller in equity but turned net buyer in debt market. Gross equity purchased stood at Rs. 3322.63 Crore and gross debt purchased stood at Rs. 1078.94 Crore, while the gross equity sold stood at Rs. 3810.23 Crore and gross debt sold stood at Rs. 632.57 Crore. Therefore, the net investment of equity and debt reported were Rs. -487.60 Crore and Rs. 446.37.

Story first published: Friday, June 12, 2015, 9:12 [IST]
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