Markets To Remain Volatile With Negative Bias
DSIJ Intelligence / 10 Oct 2012
The Indian markets may open on a flat negative note ahead in line with the global cues. The SGX Nifty is marginally down by 13 points at 5,715, indicating a flattish gap down opening to the markets today.
The Indian markets may open on a flat negative note ahead in line with the global cues. The SGX Nifty is marginally down by 13 points at 5,715, indicating a flattish gap down opening to the markets today.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 18793.36 | 0.45 |
| NIFTY | 5704.6 | 0.50 |
| Dow Jones | 13,473.53 | -0.82 |
| S&P 500 | 1,441.48 | -1.00 |
| NASDAQ | 2,731.00 | -0.11 |
| Bovespa | 58939.14 | -0.64 |
| FTSE | 5,810 | -1.72 |
| DAX | 7,234.53 | -0.78 |
| CAC | 3,382.78 | -0.70 |
| .. | ||
| Hang Seng | 20837.1 | -0.48 |
| Nikkei | 8621.87 | -1.72 |
| Shanghai | 2110.5 | -0.22 |
The Indian markets had a volatile but positive trading session yesterday as the broader indices closed higher almost 0.45 per cent. Nifty closed well above at 5,704 mark levels while Sensex also sailed higher, closing at sub 18,793 levels below the 19,000 mark. This was on the back of positive global cues especially from China which is expected to use stimulus measures to boost growth in its economy. However, there was some selling seen after IMF cut the India’s GDP growth to 4.9 per cent as against that of 6.2 per cent projected earlier.
Overnight the U.S. stock markets fell sharply as investors braced it for earnings and the International Monetary Fund cut global growth outlooks. The European market too lost its early gains and closed lower in the red zone. The broader FTSE index fell 0.5 per cent to 1,095.95 points in a broad-based selling as the International Monetary Fund cut its expectations for global growth and investors seemed worried over U.S. earnings season which may dent expectations for the world's largest economy.
However, the U.S. earning season has begun on a positive note after the world’s largest aluminum producing company Alcoa reported better than expected earnings for the third quarter 2012. Sentiment was dented as the IMF at its meeting in Tokyo slashed its projections for global growth for 2012 and 2013. The IMF for 2012 now expects the global economy to grow by 3.3 per cent as compared with a 3.5 per cent estimate made in July.
The rupee against the dollar yesterday was down by 0.20 per cent and trading at 52.37 against a dollar, after creating fresh high last week. Brent crude oil price also rose on Tuesday above USD 114 per barrel. The crude oil prices are still above the comfort zone of the economy. Along with this the result season has made the market more volatile.
| Key Global Indicators | ||
|---|---|---|
| Gold (Rs/10gm) | Crude ($/bbl) | |
| Spot | 31230 | 113.97 |
| % change | - | -0.56 |
| Future | 31333 | 91.76 |
| % change | 0.01 | -0.63 |
| Currency Rates | ||||
|---|---|---|---|---|
| Rs/$ | Rs/Euro | Rs/GBP | Rs100/JYP | |
| RBI Rate | 52.37 | 67.98 | 83.99 | 66.85 |
| Future | 52.82 | 68.32 | 84.62 | 67.5 |
One should watch out for stocks like Cera Sanitary and IndusInd Bank that are going to post their September quarter results today. These stocks may see a price movement.
The Asian markets have opened on a mixed note. Japan's Nikkei share average fell to a two-month low on concerns that the upcoming corporate earnings results for the latest quarter have been hit by slowing global growth while the Chinese market was up in the initial trade on he back of hope that the government will soon announce the stimulus package to boost growth in the economy.
In conclusion, for today we expect the markets to remain volatile with a negative bias as investors are jittery in this uncertain environment over the weak global scenario and earning season.
| FII DERIVATIVES STATISTICS FOR 09-Oct-2012 | ||||||
|---|---|---|---|---|---|---|
| BUY | SELL | OPEN INTEREST AT THE END OF THE DAY | ||||
| No. of contracts | Amt in Crores | No. of contracts | Amt in Crores | No. of contracts | Amt in Crores | |
| INDEX FUTURES | 38453 | 1020.77 | 36078 | 1027.65 | 596652 | 16453.06 |
| INDEX OPTIONS | 441543 | 12580.83 | 447348 | 12690.68 | 1669488 | 47621.05 |
| STOCK FUTURES | 37095 | 1137.56 | 41283 | 1224.94 | 1010183 | 29881.71 |
| STOCK OPTIONS | 48644 | 1538.79 | 49669 | 1594.98 | 64956 | 2053.38 |
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