Pre-Session-Bears may continue to rule the roost at Dalal Street on global sell-off :03/11/2016 08:22

Pre-Session-Bears may continue to rule the roost at Dalal Street on global sell-off :03/11/2016 08:22
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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Indian equity benchmarks are likely to witness a bearish opening on Thursday tracking weakness globally as heightened investor caution ahead of the US Presidential elections curbed risk taking appetite. Traders are nervy with latest polls indicating a tightening race for the White House. Losses in the SGX Nifty Index Futures for November delivery which were trading at 8,518, down by 20 points or 0.23 per cent at 10:30 AM Singapore time, signal that the Sensex may open lower today. Shares of Ambuja Cements, EIH, ICRA and Whirlpool of India will remain in focus as these companies reveal their September quarter earnings. Investors will also eye the India Services PMI for the month of October which will offer further cues over the health of Asia’s third biggest economy. India’s services gauge stood at 52 in October, with a reading above 50 signaling expansion. The 30-share BSE SENSEX closed at 27,527.22, down by 349.39 points or by 1.25 per cent on Wednesday as anxiety surrounding the looming US Presidential elections weighed heavily.

Asian stocks stumbled today as traders weighed reduced odds of Democrat Hillary Clinton’s victory in the upcoming November 8, 2016 US Presidential elections following the reopening of an FBI investigation into the use of an unauthorized e-mail server, making investors nervous. The US Federal Reserve on Wednesday kept policy unchanged but signaled that a move to raise interest rates in December was probably on the cards, with the case for policy tightening continuing to strengthen amid quickening inflation. Shanghai Composite climbed after a Chinese services gauge rose from 52 in September to 52.4 in October. Hang Seng fell and Japan’s Nikkei 225 was closed today. Marking a seventh straight finish in the red, Wall Street slipped on Wednesday as tumbling crude prices and investor anxiety surrounding the US elections overshadowed the Fed’s decision to keep interest rates on hold. Meanwhile, the US private sector added 147,000 workers in October, down from 202,000 in September.

Top traded Volumes on NSE Nifty – ICICI Bank Ltd. 13764234.00, State Bank of India 13716294.00, Hindalco Industries Ltd. 11309743.00, Axis Bank Ltd. 9885845.00 and Oil and Natural Gas Corporation Ltd. 9849847.00.

On BSE, total number of shares traded was 53.55 Crore and total turnover stood at Rs. 6220.25 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 216038 with a total turnover of Rs. 14796.54 Crore. Along with this total number of contracts traded in stock futures were 483398 with a total turnover of Rs. 34128.30 Crore. Total numbers of contracts for index options were 3729235 with a total turnover of Rs. 269533.61 Crore and total numbers of contracts for stock options were 276905 with a total turnover of Rs. 20278.47 Crore.

The FIIs on 02/11/2016 stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs. 4930.89 Crore and gross debt purchased stood at Rs. 1323.08 Crore, while the gross equity sold stood at Rs. 5026.88 Crore and gross debt sold stood at Rs. 1010.85 Crore. Therefore, the net investment of equity and debt reported were Rs. -95.99 Crore and Rs. 312.23 Crore.