Markets To Open Positive
DSIJ Intelligence / 03 Jul 2012
The Asian and European markets are sending positive signals to the Indian equity markets. Expectations are that in US, the Federal Reserve will go for QE3. Our expectations are the the BSE Sensex and Nifty may show positive opening.
The Indian markets witnessed silent trades yesterday. The surge in crude oil prices dragged down the indices. SGX Nifty is currently trading at 5,319.50, up by 29.50 points.
Earlier yesterday, the markets closed flat. Most of the sectors were under pressure with maximum gains posted by the realty and CD sectors. The FMCG index lost the most. Overnight, the U.S. indices showed a mixed trend. While Dow was marginally negative, S&P and Nasdaq posted some gains. The Institute for Supply Management said that its June index had declined to 49.7 per cent from 53.5 per cent in May, indicating manufacturing in India has shrunk. This, however, gives a cue that QE3 may be on the cards.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17399 | -0.18 |
| NIFTY | 5279 | -0.01 |
| Dow Jones | 12871 | -0.07 |
| S&P 500 | 1366 | 0.25 |
| NASDAQ | 2951 | 0.55 |
| Bovespa | 54692 | 0.62 |
| FTSE | 5641 | 1.25 |
| DAX | 6496 | 1.24 |
| CAC | 3240 | 1.36 |
| Live | ||
| Hang Seng | 19,732 | 1.47 |
| Nikkei | 9,072 | 0.76 |
| Shanghai | 2,237 | 0.50 |
The European indices closed with handsome gains yesterday. FTSE, DAX and CAC were all in the green at the time of closing. The Asian indices at the moment are trading in the positive. Hang Seng has surged by 1.47 per cent. Nikkei and Shanghai have extended the morning gains, thereby reflecting positive cues.
| Key Global Indicators | ||
|---|---|---|
| Gold (Rs/10gm) | Crude ($/bbl) | |
| Spot | 29532 | 97.68 |
| % change | - | 35.00% |
| Future | 29,661.00 | 83.75 |
| % change | -0.01% | 0.00% |
| Currency Rates | ||||
|---|---|---|---|---|
| Rs/$ | Rs/Euro | Rs/GBP | Rs100/JYP | |
| RBI Rate | 55.83 | 70.43 | 87.41 | 70.15 |
| Future | 55.71 | 70.25 | 87.18 | 69.78 |
Back home on the economy front, the June PMI pointed to a slow but consistent improvement in factory output. The index rose to a four-month high of 55 points in June, compared with 54.8 points in May. The PMI reading of more than 50 points indicates expansion, while below that it denotes contraction. Owing to the strong cues, we at Dalal Street Investment Journal expect that the market to open positively, snapping yesterday’s losses.
| BSE Institutional Turnover | ||||||
|---|---|---|---|---|---|---|
| FII | DII | |||||
| Trade Date | Buy | Sales | Net | Buy | Sales | Net |
| 2-Jul-12 | 2,104.11 | 1,513.05 | 591.06 | 783.2 | 1,230.69 | -447.49 |
| 29-Jun-12 | 4,747.12 | 1,700.36 | 3,046.76 | 1,532.57 | 1,783.28 | -250.71 |
| 28-Jun-12 | 3,805.31 | 4,917.94 | -1,112.63 | 1858.24 | 1085.87 | 772.37 |
| July, 2012 | 2,104.11 | 1,513.05 | 591.06 | 783.2 | 1,230.69 | -447.49 |
| FII DERIVATIVES STATISTICS FOR 2-July-2012 | |||||
|---|---|---|---|---|---|
| BUY | SELL | OI (End of the day) | Net Position | ||
| Rs (crore) | Rs (crore) | No. of contracts | Rs (crore) | Rs (crore) | |
| INDEX FUTURES | 984.69 | 1026.66 | 496224 | 12874.23 | -41.98 |
| INDEX OPTIONS | 8370.57 | 8079.48 | 1285613 | 33928.32 | 291.09 |
| STOCK FUTURES | 1328.72 | 1380.83 | 879074 | 23551.98 | -52.12 |
| STOCK OPTIONS | 643.05 | 646.21 | 23174 | 664.24 | -3.16 |
| Total | 11327.02 | 11133.19 | 2684085.00 | 71018.78 | 193.83 |
Note - Stocks In Action will now be a separate article. Please refer to the home page of Dalal Street Investment Journal (www.DSIJ.in)
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