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MARKET COMMENTARY

( As on Nov-16-2018 08:37 )
Indian equities may open higher on Friday, tracking bullish trends in SGX Nifty Index Futures and positive cues from global peers. Overseas, the Asian stocks were trading higher, tracking a strong US session overnight, amid rising optimism that the US and China could avoid further escalations in a trade war. Back home, bullish trends in the SGX Nifty Index Futures for November delivery, which were trading at 10,669.00, up by 47.00 points or 0.44 per cent, at 10:56 AM, Singapore Time, also indicated a positive start for local bourses. The market sentiment may also get support from easing crude prices and rebound in rupees. On the corporate front, shares of state-run oil marketing companies will remain in focus after media report suggested that government is planning to offload stake in these companies to meet disinvestment target. Among others, shares of NHPC will also see some movement after the board of the company approved buy back of 21.42-crore equity shares at Rs 28 apiece, aggregating Rs 600 crore. On the earnings front, SREI Infrastructure Finance, Supreme Infrastructure India and Tourism Finance Corporation of India, will announce their results today.

The benchmark indices ended marginally higher on Thursday led by a rise in the banking and financial stocks. Nifty went past the 10,600 mark on positive investor sentiment amid easing crude oil prices, firm rupee and fresh foreign fund inflows. Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns. The 30-share benchmark index closed trading at 35260.54 up by 118.55 points or by 0.34 per cent, while the NSE Nifty was at 10616.7 up by 40.4 points or by 0.38 per cent.

Top traded Volumes on NSE Nifty were YES Bank Ltd. 60944632.00, ICICI Bank Ltd. 21967798.00, Tata Motors Ltd. 18740276.00, State Bank of India 18445463.00, ITC Ltd. 12153864.00.

On NSE, total number of shares traded was 144.82 Crore and total turnover stood at Rs. 31607.69 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 307633 with a total turnover of Rs. 19497.55 Crore. Along with this total number of contracts traded in stock futures were 886024 with a total turnover of Rs. 49879.52 Crore. Total numbers of contracts for index options were 27021628 with a total turnover of Rs. 1449323.31 Crore and total numbers of contracts for stock options were 734475 with a total turnover of Rs. 42001.00 Crore.

As on November 15, 2018, the FIIs stood as net buyer in both equity and debt markets. Gross equity purchased stood at Rs. 5570.15 Crore and gross debt purchased stood at Rs. 2490.96 Crore, while the gross equity sold stood at Rs. 5392.84 Crore and gross debt sold stood at Rs. 1489.99 Crore. Therefore, the net investment of equity and debt reported were Rs. 177.31 Crore and Rs. 1000.97.
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