Pre Session: Sensex seen opening higher on firm global cues : 21/12/2016 08:33
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Indian equities are poised to open higher on Wednesday tracking firm cues from fellow Asian markets, but market volume is likely to remain thin as traders begin to quiet down in the lead-up to Christmas. Bullish trend in the SGX Nifty Index Futures for December delivery, which were trading at 8,114.50, up by 8.5 points or 0.10 per cent, at 10:50 AM Singapore time, also signaled a positive start for Sensex. Shares of Bharti Airtel will remain in focus after the telecom major said that its subsidiary Network i2i has inked pact with Egyptian firm Orascom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems (MENA-SCS).
On the global front, Asian markets were trading higher following the record gains overnight on Wall Street as investors shrugged off geopolitical tensions mounting amidst terrorist attack on a Berlin Christmas market and the killing of the Russian ambassador to Turkey. The Shanghai Composite and Hang Seng were up 0.65 each, while Japan’s Nikkei 225 remained closed today. In a major boost to Japanese markets, the Bank of Japan on Tuesday held its interest rates steady and expressed an upbeat economic outlook. In the overnight trade, Wall Street extended a rally that pushed US stocks to record high as investors continued to hope that the newly elected US President-elect Donald Trump would announce fiscal boost which will support riskier assets.
On Tuesday, the Indian equities ended tad lower for the fifth straight session, weighed down by financial and healthcare stocks, amid sustained selling by foreign portfolio investors and funds, tracking weak cues from fellow Asian peers. Lack of any major cues from domestic or global front also kept investors sideline in the lead-up to Christmas. The 30-share benchmark index closed trade at 26307.98, down by 66.72 points or by 0.25 per cent, and the NSE Nifty ended at 8082.4, down by 21.95 points or by 0.27 per cent.
Top traded Volumes on NSE Nifty were State Bank of India 12765309.00, ICICI Bank Ltd. 10536392.00, Idea Cellular Ltd. 8448534.00, ITC Ltd. 5917510.00, Hindalco Industries Ltd. 5435726.00.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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On the global front, Asian markets were trading higher following the record gains overnight on Wall Street as investors shrugged off geopolitical tensions mounting amidst terrorist attack on a Berlin Christmas market and the killing of the Russian ambassador to Turkey. The Shanghai Composite and Hang Seng were up 0.65 each, while Japan’s Nikkei 225 remained closed today. In a major boost to Japanese markets, the Bank of Japan on Tuesday held its interest rates steady and expressed an upbeat economic outlook. In the overnight trade, Wall Street extended a rally that pushed US stocks to record high as investors continued to hope that the newly elected US President-elect Donald Trump would announce fiscal boost which will support riskier assets.
On Tuesday, the Indian equities ended tad lower for the fifth straight session, weighed down by financial and healthcare stocks, amid sustained selling by foreign portfolio investors and funds, tracking weak cues from fellow Asian peers. Lack of any major cues from domestic or global front also kept investors sideline in the lead-up to Christmas. The 30-share benchmark index closed trade at 26307.98, down by 66.72 points or by 0.25 per cent, and the NSE Nifty ended at 8082.4, down by 21.95 points or by 0.27 per cent.
Top traded Volumes on NSE Nifty were State Bank of India 12765309.00, ICICI Bank Ltd. 10536392.00, Idea Cellular Ltd. 8448534.00, ITC Ltd. 5917510.00, Hindalco Industries Ltd. 5435726.00.
