Pre-market: Sensex to open lower tracking muted global cues 08/08/2014

Pre-market: Sensex to open lower tracking muted global cues
08/08/2014 08:37
The key benchmark indices are likely to open in red today followed muted cues from the Asian markets. In the overnight trading US stocks ended lower, reacting to the strong step taken by Russia that has raised concerns on global growth. In response to Western sanctions imposed over it, Russia has banned imports of food items from the US, as well as vegetables and fruits from the US.

Asian markets were also awash in red on Friday morning with Japan’s Nikkei 225 down by a whopping 455 points at 14,776. Hong Kong’s Hang Seng was trading at 24,209, down by 178 points; Taiwan Index was at 9,038, down by 93 points; Singapore’s Straits Times was trading down by 30 points at 3,284; and China’s Shanghai Composite was at 2,183, down by nearly 4 points.

Back home, the country’s largest public sector bank- State Bank of India will announce its earnings for the quarter ended June 30, 2014 later today. The SBI quarterly numbers are likely to impact the direction of markets, mainly those of banking and financial stocks.

The BSE’s SENSEX closed at 25,589.01, down by 76.26 points or by 0.3 per cent on Thursday, and the NSE’s wide-based Nifty ended at 7,649.25, down by 22.8 points or by 0.3 per cent.

On BSE, total number of shares traded was 29.15 Crore and total turnover stood at Rs. 2680.64 Crore. The FIIs on 07/08/2014 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 4066.73 Crore and gross debt purchased stood at Rs. 2090.93 Crore, while the gross equity sold stood at Rs. 3743.73 Crore and gross debt sold stood at Rs. 3753.96 Crore. Therefore, the net investment of equity and debt reported were Rs. 323.00 Crore and Rs. -1663.03.