Markets To Open Positive In Line With The Global Cues
DSIJ Intelligence / 12 Sep 2012
The Indian markets may open on a positive note ahead in line with the global cues. The SGX Nifty is up by 22 points at 5,430, indicating a positive gap up opening to the markets today.
The Indian markets may open on a positive note ahead in line with the global cues. The SGX Nifty is up by 22 points at 5,430, indicating a positive gap up opening to the markets today.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17852.95 | 0.49 |
| NIFTY | 5390 | 0.5 |
| Dow Jones | 13323.36 | 0.52 |
| S&P 500 | 1433.56 | 0.31 |
| NASDAQ | 2788 | 0.31 |
| Bovespa | 59422.8 | 1.74 |
| FTSE | 5,792 | -0.02 |
| DAX | 7310.11 | 1.32 |
| CAC | 3537.25 | 0.88 |
| .. | ||
| Hang Seng | 20066.36 | 1.04 |
| Nikkei | 8935.35 | 1.43 |
| Shanghai | 2129.36 | 0.40 |
The Indian markets witnessed a decent trading session yesterday as the broader indices closed higher up by 0.50 per cent. Nifty is hovering around the 5,390 level mark while the Sensex closed near the 17,852 level. Yesterday the Indian markets opened on a negative note, rebounded from the day’s low and finally closed with decent gains during the later hours of the trading session. The realty and IT sectors were major gainers and closed with gains of 1 per cent. The markets extended gains on profit booking and on the anticipation of a petrol price hike.
The Asian markets yesterday closed on a mixed note. The major Asian markets, Nikkei and Shanghai, continued with their losses and closed lower by 0.70 per cent and 0.66 per cent respectively while the Chinese market Hang Seng was marginally up by 0.15 per cent.
Overnight, the U.S. stock markets closed higher, as optimism among investors ahead of decisions by a German court and the Federal Reserve fueled a rise in the Dow industrials to their highest finish in nearly five years. The European stocks too edged higher yesterday, as the banking sector’s shares advanced and investors tracked gains on the U.S. stock markets. The banking stocks further lifted the markets higher in the later hour of the trading session with the Deutsche Bank leading a rally among the euro zone lenders after saying that it would not ask shareholders for more cash to strengthen its capital base. Also, expectations for further quantitative easing by the U.S. Federal Reserve later this week spurred the risk appetite among investors.
Taking cues from the overnight closing of the global markets, the Asian indices have also opened with a similar kind of trend with most of the Asian markets trading in the positive territory as investors are looking ahead with hope to the key upcoming decisions from Europe and the U.S. In Europe all eyes are on the German court which will give a green signal to the austerity measures and investors are also betting on the Federal Reserve to announce a fresh round of quantitative easing at the end of its FOMC meeting on Thursday.
On the Indian turf, the rupee continues to hover in the range of 55-56 per USD and yesterday the RBI reference rate stood at 55.52 per USD, which continues to remain a worrisome factor for those companies and government agencies with huge dependency on imports. The oil marketing companies’ under-recoveries are rising as the government is not passing on the hike. Yesterday the oil ministry postponed its decision for any price hike in the near term. The Brent crude price is inching northwards to reach USD 115 per barrel in a short period of time.
| Currency Rates | ||||
|---|---|---|---|---|
| Rs/$ | Rs/Euro | Rs/GBP | Rs100/JYP | |
| RBI Rate | 55.52 | 70.85 | 88.84 | 70.99 |
| Future | 55.46 | 70.87 | 88.86 | 71.04 |
| Key Global Indicators | ||
|---|---|---|
| Gold (Rs/10gm) | Crude ($/bbl) | |
| Spot | 31876 | 114.64 |
| % change | - | 0.12 |
| Future | 31890 | 97.06 |
| % change | -0.05 | -0.11 |
In conclusion, for today we expect the markets to operate with a positive bias on the back of strong global cues, especially from the Asian and the U.S. markets. However, the markets will also remain cautious ahead of the announcement of the IIP numbers later today.
| FII DERIVATIVES STATISTICS FOR 11-Sept-2012 | |||||
|---|---|---|---|---|---|
| BUY | SELL | OI (END OF THE DAY) | Net Position | ||
| Rs (crore) | Rs (crore) | No. of contracts | Rs (crore) | Rs (crore) | |
| INDEX FUTURES | 1183.75 | 1081.06 | 380914 | 9898.52 | 102.69 |
| INDEX OPTIONS | 9643.55 | 9113.25 | 1625378 | 43731.46 | 530.31 |
| STOCK FUTURES | 1036.75 | 894.44 | 943345 | 24813.59 | 142.31 |
| STOCK OPTIONS | 739.94 | 744.48 | 55648 | 1485.04 | -4.53 |
| Total | 12603.99 | 11833.22 | 3005285.00 | 79928.61 | 770.77 |
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