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( As on 11/09/2017 07:53) Pre Session: Markets may open higher amid robust Asian cues

The Indian benchmark indices are set to open higher on Monday amid robust cues from the Asian peers.

The Asian markets have opened on a positive note as the investors digested headlines concerning developments out of the People's Bank of China and European Central Bank announced at the weekend, while Wall Street closed mixed in the previous trading session as investors braced for potential damage from Hurricane Irma as it drove toward Florida.

The markets may react to the RBI report that forex reserves surged by a massive USD 3.572 billion to touch a record high of USD 398.122 billion for the week ended September 1, on account of rise in foreign currency assets.

On the economy front, work on India’s first post-GST Union Budget 2018-19 will start next week with the finance ministry issuing timelines for different processes that will culminate with its presentation in February.

Positive trends in the SGX Nifty Index Futures for September delivery, which were trading at 9,981, up by 34 points or 0.34 per cent, at 10:20 AM Singapore time, signalled a positive opening for the domestic bourses.

On Friday, equity benchmarks ended flat with a positive bias amid mixed cues from the global peers on lingering worries about North Korea. The markets turned directionless in the absence of any positive trigger. The 30-share benchmark index closed trading at 31687.52 up by 24.78 points or by 0.08 per cent, while the NSE Nifty closed at 9934.8 up by 4.9 points or by 0.05 per cent.

Top traded Volumes on NSE Nifty – Vedanta Ltd. 17013165.00, Hindalco Industries Ltd. 11886595.00, Oil And Natural Gas Corporation Ltd. 10505052.00, ITC Ltd. 9716093.00, ICICI Bank Ltd. 8077662.00, On NSE, total number of shares traded was 140.55 Crore and total turnover stood at Rs. 26292.88 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 142125 with a total turnover of Rs. 11956.54 Crore. Along with this total number of contracts traded in stock futures were 616434 with a total turnover of Rs. 47143.85 Crore. Total numbers of contracts for index options were 2760176 with a total turnover of Rs. 239367.54 Crore. and total numbers of contracts for stock options were 398260 with a total turnover of Rs. 31602.89 Crore.

The FIIs on 08/09/2017 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5234.93 Crore and gross debt purchased stood at Rs. 805.55 Crore, while the gross equity sold stood at Rs. 5537.58 Crore and gross debt sold stood at Rs. 122.09 Crore. Therefore, the net investment of equity and debt reported were Rs. -302.65 Crore and Rs. 683.46.