Pre Session-Cautious opening set for Sensex as election results
eyed
The key Indian indices today are likely to witness a cautious opening on the bourses on global cues; however, the market momentum might pick up following the announcement of the final poll results. The market expects an outright win for Modi and prospects hold that the NDA government will win more than 250 seats driving another big rally in the market. Nonetheless, the markets have already discounted the fact of NDA’s victory driving the market to a 1500 points rally but the market may give another run as it thinks BJP-led NDA Alliance is a panacea to all the policy paralysis the country has been witnessing so far. Although, BJP’s prime ministerial candidate’s vision on the economy has not been candid enough, the markets are positive about its reform-orientation.
The major Asian indices are trading in the negative territory on Wall-Street cues as investors indulged in some heavy selling across the board, tracking weak cues from Wall Street where the major averages posted notable losses overnight amid some disappointing earnings and economic news. A stronger yen is also contributing to the weakness. The benchmark Nikkei 225 index is down 217.3 points or 1.5% at 14,080.9. The Shanghai Composite Index closed just below the 2,025-point plateau, and the market figures to consolidate further on Friday. The Hang-Seng has moved up in last six trading sessions offering space for profit-taking later in the day.
Wall-Street tumbled during trading on Thursday but managed to end the session off its worst levels of the day. The losses still extended the drop seen in the previous session, with the Dow and the S&P 500 pulling back further off their record highs. The major averages ended the day firmly below the neutral line. The Dow tumbled 167.16 points or 1 % to 16,446.81, the NASDAQ dropped 31.33 points or 0.8 % to 4,069.29 and the S&P 500 lid 17.68 points or 0.9 % to 1,870.85. A drop of 2.4% in the first quarter earnings of Wal-Mart that missed analyst estimates who now forecast weaker than expected second quarter earnings was also reflected in the weakness on Wall-Street. A negative reaction to a mixed batch of U.S. economic data also weighed on the markets with disappointing readings on industrial production and homebuilder confidence seemingly overshadowing an upbeat jobs report.
Top traded Volumes on NSE Nifty – NTPC Ltd. 23177779.00, Tata Power Company Ltd. 15190345.00, Tata Steel Ltd. 14271600.00, DLF Ltd. 11637280.00, Power Grid Corporation of India Ltd. 9878745.00,
On BSE, total number of shares traded was 29.02 Crore and total turnover stood at Rs. 3223.00 Crore.
On NSE, total number of shares traded was 103.89 Crore and total turnover stood at Rs. 18285.27 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 405646 with a total turnover of Rs. 14487.97 Crore. Along with this total number of contracts traded in stock futures were 859814 with a total turnover of Rs. 29596.27 Crore. Total numbers of contracts for index options were 3206292 with a total turnover of Rs. 115815.74 Crore. and total numbers of contracts for stock options were 332394 with a total turnover of Rs. 11681.87 Crore.
The key Indian indices today are likely to witness a cautious opening on the bourses on global cues; however, the market momentum might pick up following the announcement of the final poll results. The market expects an outright win for Modi and prospects hold that the NDA government will win more than 250 seats driving another big rally in the market. Nonetheless, the markets have already discounted the fact of NDA’s victory driving the market to a 1500 points rally but the market may give another run as it thinks BJP-led NDA Alliance is a panacea to all the policy paralysis the country has been witnessing so far. Although, BJP’s prime ministerial candidate’s vision on the economy has not been candid enough, the markets are positive about its reform-orientation.
The major Asian indices are trading in the negative territory on Wall-Street cues as investors indulged in some heavy selling across the board, tracking weak cues from Wall Street where the major averages posted notable losses overnight amid some disappointing earnings and economic news. A stronger yen is also contributing to the weakness. The benchmark Nikkei 225 index is down 217.3 points or 1.5% at 14,080.9. The Shanghai Composite Index closed just below the 2,025-point plateau, and the market figures to consolidate further on Friday. The Hang-Seng has moved up in last six trading sessions offering space for profit-taking later in the day.
Wall-Street tumbled during trading on Thursday but managed to end the session off its worst levels of the day. The losses still extended the drop seen in the previous session, with the Dow and the S&P 500 pulling back further off their record highs. The major averages ended the day firmly below the neutral line. The Dow tumbled 167.16 points or 1 % to 16,446.81, the NASDAQ dropped 31.33 points or 0.8 % to 4,069.29 and the S&P 500 lid 17.68 points or 0.9 % to 1,870.85. A drop of 2.4% in the first quarter earnings of Wal-Mart that missed analyst estimates who now forecast weaker than expected second quarter earnings was also reflected in the weakness on Wall-Street. A negative reaction to a mixed batch of U.S. economic data also weighed on the markets with disappointing readings on industrial production and homebuilder confidence seemingly overshadowing an upbeat jobs report.
Top traded Volumes on NSE Nifty – NTPC Ltd. 23177779.00, Tata Power Company Ltd. 15190345.00, Tata Steel Ltd. 14271600.00, DLF Ltd. 11637280.00, Power Grid Corporation of India Ltd. 9878745.00,
On BSE, total number of shares traded was 29.02 Crore and total turnover stood at Rs. 3223.00 Crore.
On NSE, total number of shares traded was 103.89 Crore and total turnover stood at Rs. 18285.27 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 405646 with a total turnover of Rs. 14487.97 Crore. Along with this total number of contracts traded in stock futures were 859814 with a total turnover of Rs. 29596.27 Crore. Total numbers of contracts for index options were 3206292 with a total turnover of Rs. 115815.74 Crore. and total numbers of contracts for stock options were 332394 with a total turnover of Rs. 11681.87 Crore.
