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MARKET COMMENTARY

( As on Jul-14-2020 08:33 )
Domestic bourses are expected to start the day in red on Tuesday following weak cues from global markets. In today's session, investors will track and react to macro numbers and June quarter results as well as the trend in Covid-19 cases.

A total of 35 companies, including Wipro and Mindtree, are scheduled to announce their quarterly results today. Wipro, like its peers, is expected to post a weak set of numbers for the June quarter. Investors are likely to watch out for the company's strategy under the new CEO, updates on client interactions, and assessment of the impact on IT spend due to Covid-19 pandemic, among other things.

On Monday, the 30-share benchmark index ended at 36693.69 up by 99.36 points or by 0.27 % and then NSE Nifty was at 10802.7 up by 34.65 points or by 0.32 %.

On the global front, On the Wall Street, the S&P 500 dropped 0.94 per cent after touching its highest level since February 24 intra-day. The Nasdaq closed 2.1 per cent lower although Dow Jones rose 0.04 per cent.

Asian shares also dipped in Tuesdays early deals. Both Australian ASX 200 and Japan's Nikkei slipped 0.6 per cent in early trading while Korea's Kospi lost 0.3 per cent.

Back home, Top traded Volumes on NSE Nifty – Tata Motors Ltd. 81900473.00, State Bank of India 61952344.00, ICICI Bank Ltd. 32379950.00, Reliance Industries Ltd. 32124397.00, Hindalco Industries Ltd. 21894781.00, On NSE, total number of shares traded was 87.67 Crore and total turnover stood at Rs. 52354.62 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 434261 with a total turnover of Rs. 28711.41 Crore. Along with this total number of contracts traded in stock futures were 702078 with a total turnover of Rs. 50143.39 Crore. Total numbers of contracts for index options were 16739313 with a total turnover of Rs. 1010884.89 Crore. and total numbers of contracts for stock options were 994962 with a total turnover of Rs. 78072.51 Crore.

The FIIs on 13/07/2020 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 2590.15 Crore and gross debt purchased stood at Rs. 2018.86 Crore, while the gross equity sold stood at Rs. 3524.44 Crore and gross debt sold stood at Rs. 1549.39 Crore. Therefore, the net investment of equity and debt reported were Rs. -934.29 Crore and Rs. 469.47