Markets To Remain Volatile Ahead Of The Expiry
DSIJ Intelligence / 23 Oct 2012
The Indian markets may open on a flat negative note taking cues from other Asian markets. SGX Nifty is currently trading lower by 4.50 points at the level of 5,718.50, indicating a negative gap down opening for the Indian markets in their early trade.
The Indian markets may open on a flat negative note taking cues from other Asian markets. SGX Nifty is currently trading lower by 4.50 points at the level of 5,718.50, indicating a negative gap down opening for the Indian markets in their early trade.
Further, we believe that the markets will remain volatile ahead of the expiry on Thursday which would keep the market on its toes. Also, this week we would be having two days off - Wednesday on account of Dusshera and Friday due to Bakri Eid.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 18793.36 | 0.59 |
| NIFTY | 5717.15 | 0.58 |
| Dow Jones | 13345.89 | 0.02 |
| S&P 500 | 1433.82 | 0.04 |
| NASDAQ | 2689 | 0.05 |
| Bovespa | 58700.39 | -0.38 |
| FTSE | 5882.91 | -0.23 |
| DAX | 7328.05 | -0.72 |
| CAC | 3483.05 | -0.61 |
| .. | ||
| Hang Seng (Closed) | 21697 | 0 |
| Nikkei | 9017.28 | 0.08 |
| Shanghai | 2128.95 | -0.18 |
The Indian markets had a volatile but positive trading session yesterday as the broader indices closed higher by almost 0.60 per cent. Yesterday after opening on a weak note the markets recovered its losses and bounced back amid recovery seen in the Asian markets. Nifty closed well above the 5,717 mark level while the Sensex also sailed higher, closing at sub 18,793 level i.e. below the 19,000 mark. This was on the back of positive global cues, especially from the Asian markets.
Overnight the U.S. stock markets erased losses to end marginally higher with the technology sector posting the biggest gains as investors considered corporate earnings reports. Further, the markets will keep a lookout for the report on the U.S. economic growth in the third quarter which is scheduled for release on Friday. The markets all across the globe will also keenly watch this number as it will provide vital cues over growth of the world’s largest economy. The European market yesterday lost its early gains and closed lower in the red zone. The European shares fell after the U.S. industrial bellwether Caterpillar joined other multinational manufacturers in giving a sobering take on the outlook for the global economy.
The rupee gained strength yesterday against the dollar and was up by 0.45 per cent and trading at 53.67 after creating a fresh low last week. The Brent crude oil price has also fallen below USD 110 per barrel which is positive for the Indian economy. However, we believe that the crude oil prices are still above the comfort zone of the economy.
| Key Global Indicators | ||
|---|---|---|
| Gold (Rs/10gm) | Crude ($/bbl) | |
| Spot | 30901 | 109.74 |
| % change | - | -0.11 |
| Future | 31060 | 89.05 |
| % change | -0.73 | 0.47 |
| Currency Rates | ||||
|---|---|---|---|---|
| Rs/$ | Rs/Euro | Rs/GBP | Rs100/JYP | |
| RBI Rate | 53.67 | 70.06 | 86.04 | 67.45 |
| Future | 53.53 | 69.93 | 85.85 | 67.07 |
The Asian markets have opened on a mixed note. The Chinese Index Shanghai is down by 0.21 per cent on the back of the slowing economy which is hurting profits and has offset the speculation that regulators will introduce measures to bolster equities. Meanwhile, Nikkei is trading marginally higher by 0.05 per cent. Hong Kong’s stock market is shut today for a public holiday. The Asian markets in the last two days have swung between gains and losses amid concern over slowing corporate earnings growth and as Europe struggles to contain its debt crisis.
In conclusion, for today we expect the markets to remain volatile with a negative bias as investors are jittery over weak corporate earnings and weak global scenario.
| FII DERIVATIVES STATISTICS FOR 22-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 | 168513 | 4786.38 | 160423 | 4550.37 | 701013 | 17986.52 |
| INDEX OPTIONS | 615701 | 17505.10 | 622305 | 17681.39 | 1842582 | 52699.12 |
| STOCK FUTURES | 311166 | 8994.65 | 301495 | 8699.99 | 1103828 | 32402.93 |
| STOCK OPTIONS | 52383 | 1680.97 | 50085 | 1606.01 | 85560 | 2731.43 |
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