Markets May Open Flat Today
DSIJ Intelligence / 27 Aug 2012
Indian markets are likely to show flat opening today in absence of any major domestic event. This is a week of August derivatives series expiry hence we may seem volatility in the trades. SGX Nifty is trading 2 points down to 5409. Earlier on Friday the Nifty fell 0.5 per cent and closed at 5,387 while the Sensex ended 0.4 per cent down to 17,783.
On the political stage, there is a big block in the parliament on the back of the Comptroller and Auditor General of India's report on coal block allocation. The report has reported that the coal block allocation caused the nation whopping amount of Rs 1.86 crore.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17783 | -0.38 |
| NIFTY | 5387 | -0.53 |
| Dow Jones | 13158 | 0.76 |
| S&P 500 | 1411 | 0.64 |
| NASDAQ | 3070 | 0.53 |
| Bovespa | 58425 | -0.15 |
| FTSE | 5777 | 0 |
| DAX | 6971 | 0.31 |
| CAC | 3433 | 0.02 |
| Live |
|
|
| Hang Seng | 19,870 | -0.05 |
| Nikkei | 9,101 | 0.33 |
| Shanghai | 2,068 | -1.15 |
Meanwhile French President Francois Hollande has said on Saturday that Europe must take a decision on the future of Greece once the troika report is completed in October. European Central Bank is also considering setting yield-band targets in a new bond buying programme. This could take care of the debt woes of countries like Spain. The European and US stocks gained on Friday on the back of this news.
| Key Global Indicators | ||
|---|---|---|
|
| Gold (Rs/10gm) | Crude ($/bbl) |
| Spot | 30,771.00 | 97.47 |
| % change | - | 1.37% |
| Future | 30,940.00 | 115.21 |
| % change | 0.20% | 1.43% |
The US Fed chairman has said that there is still a scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery. He has also said that Operation Twist is still working its way through the economy and that the monetary policy actions operate with lag, the stance of policy must necessarily be set in light of a forecast of the future performance of the economy.
| Currency Rates | ||||
|---|---|---|---|---|
|
| Rs/$ | Rs/Euro | Rs/GBP | Rs100/JYP |
| RBI Rate | 55.38 | 69.48 | 87.80 | 70.47 |
| Future | 55.49 | 69.33 | 87.80 | 70.67 |
In US, in a historic case, Apple Inc has won a historic case against Korean mobile maker Samsung. Shares of Samsung tumbled more than 7 per cent on the back of this news. Apple has been awarded USD 1.05 billion in damages payable by Samsung.
On the Asian front, the markets are showing volatility. Nikkei has lost the morning gains while Hang Seng and Shanghai have widened the morning losses. Shanghai is down over 1 per cent at this time of the day.
ON the back of the overall sentiment, we expect Pharma, Banking and FMCG to show some positive trades while Telecom, IT and Power stocks to show volatility.
In conclusion we expect the markets to show flat opening volatile trades ahead today.
| FII DERIVATIVES STATISTICS FOR 24-Aug-2012 | |||||
|---|---|---|---|---|---|
| BUY | SELL | OI (End of the day) | Net Position | ||
| Rs (crore) | Rs (crore) | No. of contracts | Rs (crore) | Rs (crore) | |
| INDEX FUTURES | 1403.11 | 1256.32 | 693148 | 17808.06 | 146.80 |
| INDEX OPTIONS | 13350.43 | 12764.40 | 1987560 | 53477.32 | 586.03 |
| STOCK FUTURES | 2316.60 | 2888.35 | 991044 | 26545.81 | -571.75 |
| STOCK OPTIONS | 1042.43 | 1161.65 | 86788 | 2413.61 | -119.21 |
| Total | 18112.57 | 18070.72 | 3758540.00 | 100244.81 | 41.86 |
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