Pre-Session: Markets likely to open higher ahead of RBI MPC outcome
08/12/2023 08:42
Benchmark indices Sensex and Nifty are looking to start higher on Friday ahead of Reserve Bank of India's (RBI) monetary policy decision. At 7:15 am, the Gift Nifty futures were 45 points higher at 21,077.

The RBI is expected to maintain status quo on the key repo rate, holding it steady at 6.5 per cent. Meanwhile, an uptick in GDP forecast for FY24 is expected after the upward suprise seen in the recent Q2 GDP print.

Rate sensitive banks, auto and realty stocks will be in focus today. Among others, IIFL Securities, Zomato, Tata Motors are other stocks on radar.

On Thursday, the 30-share benchmark index ended at 69521.69 down by -132.04 points or by -0.19 % and then NSE Nifty was at 20901.15 down by -36.55 points or by -0.17 %.

On the global front, In the US, the Dow rose 0.17 per cent, S&P 500 gained 0.8 per cent overnight while the Nasdaq Composite rallied 1. 4 per cent.

In Asia, Nikkei in Japan was the only loser and edged 1.4 per cent lower after Q3 GDP was revised downward to a 0.7 per cent QoQ fall. Kospi was up 0.8 per cent and Hang Seng in Hong Kong was just above the flatline.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 34686333.00, NTPC Ltd. 25133786.00, Power Grid Corporation of India Ltd. 24534268.00, Oil And Natural Gas Corporation Ltd. 16425880.00, Adani Ports & Special Economic Zone Ltd. 14840081.00,

On NSE, total number of shares traded was 51.75 Crore and total turnover stood at Rs. 102709.16 Crore. On NSE Future and Options, total number of contracts traded in index futures was 245015 with a total turnover of Rs. 21063.07 Crore. Along with this total number of contracts traded in stock futures were 1128545 with a total turnover of Rs. 88835.33 Crore. Total numbers of contracts for index options were 302863766 with a total turnover of Rs. 29012584.81 Crore. and total numbers of contracts for stock options were 5531089 with a total turnover of Rs. 446709.60 Crore.

The FIIs on 07/12/2023 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 12029.91 Crore and gross debt purchased stood at Rs. 297.66 Crore, while the gross equity sold stood at Rs. 11829.63 Crore and gross debt sold stood at Rs. 1492.75 Crore. Therefore, the net investment of equity and debt reported were Rs. 200.28 Crore and Rs. -1195.09