Pre Session: Gap up opening seen for Sensex, Nifty; ACC, Jubilant FooodWorks result eyed 17/07/2017 08:32

Indian equities are likely to open higher on Monday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trading across Asian markets. The Asian stocks were trade in green after Wall Street ended higher on Friday amid hopes that Federal Reserve would continue accommodative monetary policy following disappointing economic data which indicated that US economic growth is not growing as previously anticipated. Back home, bullish trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,943.50, up by 40 points or 0.40 per cent, at 10:54 AM Singapore time, also signaled a positive opening for local bourses. On the economy front, Wholesale inflation fell to the lowest in at least eight months. Contraction in food prices dragged India's annual rate of inflation based on wholesale prices to record low levels of 0.90 per cent in June, official data showed on Friday. With WPI and retail inflation falling in June, this would put pressure on the Reserve Bank of India to cut the policy interest rate in August. Investors will also react to earnings of Infosys after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. The company, however, continued to maintain its constant currency revenue growth guidance of 6.5 to 8.5 per cent. On the earnings front, 17 companies will announce its June quarter results today, which include, ACC and Jubilant FooodWorks.

On Friday, The Indian equity benchmarks ended flat with negative bias on Friday, snapping the 4-day record closing trend as weak corporate earnings failed to boost the market sentiments. This week turned out to be a historic one for the domestic bourses as the both the benchmark indices rallied to hit record highs. BSE Sensex gained over 660 points while the NSE component Nifty added 220 points to clock the lifetime highs. The 30-share barometer SENSEX closed at 32020.75, down by 16.63 points or by 0.05 per cent, and the NSE Nifty ended at 9886.35, down by 5.35 points or by 0.05 per cent.

Top traded Volumes on NSE Nifty were Hindalco Industries Ltd. 14793571.00, State Bank of India 13750192.00, Infosys Ltd. 11239090.00, Vedanta Ltd. 9297163.00, Aurobindo Pharma Ltd. 8213012.00.

On NSE, total number of shares traded was 145.88 Crore and total turnover stood at Rs. 27523.48 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 153387 with a total turnover of Rs. 12862.44 Crore. Along with this total number of contracts traded in stock futures were 662798 with a total turnover of Rs. 46972.89 Crore. Total numbers of contracts for index options were 3670997 with a total turnover of Rs. 313106.45 Crore and total numbers of contracts for stock options were 546549 with a total turnover of Rs. 37778.57 Crore.

As on July 14, 2017, the FIIs turned net seller in both debt and equity segment. Gross equity purchased stood at Rs. 5292.17 Crore and gross debt purchased stood at Rs. 1130.69 Crore, while the gross equity sold stood at Rs. 5375.44 Crore and gross debt sold stood at Rs. 1402.47 Crore. Therefore, the net investment of equity and debt reported were Rs. -83.27 Crore and Rs. -271.78.