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MARKET COMMENTARY

( As on Dec-03-2020 08:33 )
Indian benchmarks are expected to start the day on a flat to positive note on Thursday, but it would remain volatile as investors may continue to consolidate and react to stock-specific developments today.

Trends on SGX Nifty indicate a flat to positive start for the broader index in India, with a gain of 11 points or 0.08 percent. The Nifty futures were trading around 13,165 level on the Singaporean Exchange.

On Wednesday, the 30-share benchmark index ended at 44618.04 down by -37.4 points or by -0.08 % and then NSE Nifty was at 13113.75 up by 4.7 points or by 0.04 %.

On the global front, world stocks hovered near record highs on Wednesday on hopes for a coronavirus vaccine and additional US economic stimulus, though enthusiasm for riskier assets left the dollar stuck at a 2-1/2 year low.

US stock futures declined 0.23 per cent following a record closing high for Wall Street shares. In Asia, China stocks erased earlier gains to end nearly flat.

In commodities, oil prices fell in early trade but later pared some of the losses on news that Britain has become the first country in the world to approve a vaccine for use and that it will be rolled out from early next week.

Back home, Top traded Volumes on NSE Nifty – GAIL (India) Ltd. 97500422.00, Tata Motors Ltd. 88107889.00, State Bank of India 56723083.00, Oil And Natural Gas Corporation Ltd. 52652362.00, Indian Oil Corporation Ltd. 44728000.00, On NSE, total number of shares traded was 34.24 Crore and total turnover stood at Rs. 67069.75 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 399980 with a total turnover of Rs. 33237.94 Crore. Along with this total number of contracts traded in stock futures were 791385 with a total turnover of Rs. 61569.21 Crore.

Total numbers of contracts for index options were 32370374 with a total turnover of Rs. 2712214.62 Crore. and total numbers of contracts for stock options were 1125887 with a total turnover of Rs. 91417.54 Crore.

The FIIs on 02/12/2020 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 12174.98 Crore and gross debt purchased stood at Rs. 496.67 Crore, while the gross equity sold stood at Rs. 8637.31 Crore and gross debt sold stood at Rs. 959.94 Crore. Therefore, the net investment of equity and debt reported were Rs. 3537.67 Crore and Rs.-463.27.