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Pre Session- Bearish opening on the cards for Sensex on global sell-off Analysis for Aug 20, 2015

By Religare

Indian equity benchmarks are poised to witness a gap down opening today tracking a bearish trend across markets in Asia and a negative finish at Wall Street overnight as traders weighed the FOMC minutes which signaled that conditions for a lift-off in US interest rates were approaching even as officials sought a pickup in inflation, while a fast growing China economic gloom also soured investor appetite for risky assets. Snapping a two-day losing streak, the 30-share Sensex on Wednesday rallied 100.1 points or by 0.36 per cent to end at 27,931.64 as weakness in the rupee bolstered the outlook for export focused sectors such as healthcare and IT. The rupee fell to a two-year low against the greenback as worries of a worsening China slowdown and last week"s massive Yuan devaluation prompts investors to shun emerging market currencies. Fears that a further depreciation of the rupee may delay an interest rate cut by the Reserve Bank of India (RBI) which meets next on the 29th of September may also spoil the mood at Dalal Street, clouding the outlook for Asia"s third biggest economy. Heightened concerns over global economic growth may keep market participants on the edge as the US Federal Reserve prepares to raise borrowing costs for the first time since 2006 while a worsening China slowdown roils commodities and piles on the pain for the world economy. Amidst a bearish trend in Asia, coupled with weakness in the SGX CNX Nifty Index futures for August delivery which fell 0.63 per cent or 53 points at 8,453 at 10:50 am Singapore time, Dalal Street is set to open lower today.


Asian stocks succumbed to a steep sell-off today tracking a bearish closing at Wall Street overnight as minutes from the Fed"s latest meet, highlighted concerns over weak inflation amidst anaemic global demand while investors remained nervous over China as the country"s slowdown continued to fuel a rout in emerging market assets and commodities, dimming the lure for risky assets. While the Fed stressed that conditions which warrant rate tightening are approaching, policymakers are seeking more evidence of a pickup in economic growth and labour markets and need more confidence that inflation is moving towards the required goal. China"s Shanghai Composite was back in bear terrain, shedding more than 1 per cent as a weaker yuan and a slowing economy threatened to spur capital outflows, Hang Seng plunged while Japan"s Nikkei 225 was down as a stronger yen dimmed the appeal of exporter stocks.


Top traded Volumes on NSE Nifty – State Bank of India 15452575.00, Bank of Baroda 10787146.00, Hindalco Industries Ltd. 9032174.00, ICICI Bank Ltd. 7958428.00 and Tata Motors Ltd. 6435894.00.

On BSE, total number of shares traded was 34.17 Crore and total turnover stood at Rs. 3312.12 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 513437 with a total turnover of Rs. 13421.72 Crore. Along with this total number of contracts traded in stock futures were 954774 with a total turnover of Rs. 27790.45 Crore. Total numbers of contracts for index options were 7987874 with a total turnover of Rs. 180417.06 Crore and total numbers of contracts for stock options were 526162 with a total turnover of Rs. 15759.06 Crore.

The FIIs on 19/08/2015 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 6977.71 Crore and gross debt purchased stood at Rs. 181.63 Crore, while the gross equity sold stood at Rs. 6958.33 Crore and gross debt sold stood at Rs. 115.03 Crore. Therefore, the net investment of equity and debt reported were Rs. 19.38 Crore and Rs. 66.60 Crore.

Story first published: Thursday, August 20, 2015, 9:00 [IST]
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