Pre-Market: Market to open flat
05/06/2014 08:09
Weakness in the Asian counterparts and a negative opening for SGX Nifty signal a weak opening for the Indian markets. There will be caution ahead of ECB monetary policy and US jobs report due on Friday. Meanwhile, the realty stocks will stay in focus amid the news that the government is planning to provide tax breaks in order to launch Real Estate Investment Trusts (REITs) in this budget. Additionally a report as per Bloomberg data shows that FY15 earnings estimates for more than half of BSE 100 companies has been downgraded, thus creating caution amongst retail investors. The upgraded companies include Adani Power, Ranbaxy Laboratories, Adani Enterprises, Ashok Leyland to name a few. The fertilizer stocks too will be in focus as the market expects new government will clear the fertilizer subsidy bill.
Asian shares are fluctuating in the early trade before ECB’s monetary policy announcement. Japanese Yen rebounded from lower levels. The trading activity will be cautious ahead of the rate cuts by ECB as s President Mario Draghi seeks to ward off deflation after data showed growth in the 18-nation region slowed in the first quarter. Going forward the investors will remain hesitant ahead of the US jobs report due tomorrow as a reportedly initial jobless claims rose in the month of May. The Shanghai composite is trading low by 0.02%, the Hang Seng is lower by 0.06% and NIKKEI is trading up by 0.06%.
After recovering from an early move to the downside, stocks moved modestly higher over the course of the trading day on Wednesday. Buying interest was somewhat subdued, but the S&P 500 still managed to reach a new record closing high. The major averages moved roughly sideways, hovering in positive territory. The Dow edged up 15.19 points or 0.1 percent to 16,737.53, the NASDAQ climbed 17.56 points or 0.4 percent to 4,251.64 and the S&P 500 rose 3.64 points or 0.2 percent to 1,927.88. The buying interest was seen as result of release of ISM service sector activity which offset the report of Commerce Department showing widened trade deficit. With the bigger than expected increase, the non-manufacturing index rose to its highest level since reaching 57.9 in August of 2013. Meanwhile, Fed’s Beige Book noted that all twelve districts said economic activity expanded during the current reporting period.
Top traded Volumes on NSE Nifty – Jindal Steel & Power Ltd. 17625399.00, Hindalco Industries Ltd. 15948295.00, DLF Ltd. 13402604.00, Power Grid Corporation of India Ltd. 13079110.00, NTPC Ltd. 12793918.00,
05/06/2014 08:09
Weakness in the Asian counterparts and a negative opening for SGX Nifty signal a weak opening for the Indian markets. There will be caution ahead of ECB monetary policy and US jobs report due on Friday. Meanwhile, the realty stocks will stay in focus amid the news that the government is planning to provide tax breaks in order to launch Real Estate Investment Trusts (REITs) in this budget. Additionally a report as per Bloomberg data shows that FY15 earnings estimates for more than half of BSE 100 companies has been downgraded, thus creating caution amongst retail investors. The upgraded companies include Adani Power, Ranbaxy Laboratories, Adani Enterprises, Ashok Leyland to name a few. The fertilizer stocks too will be in focus as the market expects new government will clear the fertilizer subsidy bill.
Asian shares are fluctuating in the early trade before ECB’s monetary policy announcement. Japanese Yen rebounded from lower levels. The trading activity will be cautious ahead of the rate cuts by ECB as s President Mario Draghi seeks to ward off deflation after data showed growth in the 18-nation region slowed in the first quarter. Going forward the investors will remain hesitant ahead of the US jobs report due tomorrow as a reportedly initial jobless claims rose in the month of May. The Shanghai composite is trading low by 0.02%, the Hang Seng is lower by 0.06% and NIKKEI is trading up by 0.06%.
After recovering from an early move to the downside, stocks moved modestly higher over the course of the trading day on Wednesday. Buying interest was somewhat subdued, but the S&P 500 still managed to reach a new record closing high. The major averages moved roughly sideways, hovering in positive territory. The Dow edged up 15.19 points or 0.1 percent to 16,737.53, the NASDAQ climbed 17.56 points or 0.4 percent to 4,251.64 and the S&P 500 rose 3.64 points or 0.2 percent to 1,927.88. The buying interest was seen as result of release of ISM service sector activity which offset the report of Commerce Department showing widened trade deficit. With the bigger than expected increase, the non-manufacturing index rose to its highest level since reaching 57.9 in August of 2013. Meanwhile, Fed’s Beige Book noted that all twelve districts said economic activity expanded during the current reporting period.
Top traded Volumes on NSE Nifty – Jindal Steel & Power Ltd. 17625399.00, Hindalco Industries Ltd. 15948295.00, DLF Ltd. 13402604.00, Power Grid Corporation of India Ltd. 13079110.00, NTPC Ltd. 12793918.00,
On NSE, total number of shares traded was 147.77
Crore and total turnover stood at Rs. 21342.90 Crore.
On NSE
Future and Options, total number of contracts traded in index futures was 238934
with a total turnover of Rs. 8960.49 Crore. Along with this total number of
contracts traded in stock futures were 884655 with a total turnover of Rs.
35533.83 Crore. Total numbers of contracts for index options were 1580429 with a
total turnover of Rs. 58577.63 Crore. and total numbers of contracts for stock
options were 290619 with a total turnover of Rs. 11871.27
Crore.
The FIIs on 02/06/2014 stood as net buyer in equity and
debt. Gross equity purchased stood at Rs. 17370.90 Crore and gross debt
purchased stood at Rs. 3838.60 Crore, while the gross equity sold stood at Rs.
14285.50 Crore and gross debt sold stood at Rs. 2944.30 Crore. Therefore, the
net investment of equity and debt reported were Rs. 3085.40 Crore and Rs.
894.30
