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MARKET COMMENTARY

( As on May-20-2022 08:46 )
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 223 points.

Onthe result front, NTPC, One 97 Communications (PayTM), Amara Raja Batteries, Gati, HeidelbergCement India, Indiabulls Housing Finance, IDFC, Indigo Paints, Indian Railway Finance Corporation, JK Tyre and Industries, CE Info Systems, Metro Brands, Narayana Hrudayalaya, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Pfizer, SML Isuzu, Sobha, Thermax, and Zydus Lifesciences will report their March quarter earnings on May 20.

On Thursday, the 30-share benchmark index ended at 52792.23 down by -1416.3 points or by -2.61 % and then NSE Nifty was at 15809.4 down by -430.9 points or by -2.65 %.

On the global front, Wall Street ended lower after a volatile session on Thursday, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates.

The S&P 500 declined 0.58% to end the session at 3,900.79 points. The Nasdaq declined 0.26% to 11,388.50 points, while the Dow Jones Industrial Average declined 0.75% to 31,253.13 points.

Asian shares jumped in early trade on Friday after China cut a key lending benchmark to support a slowing economy, but a gauge of global equities remained set for its longest weekly losing streak on record amid investor worries about sluggish growth.

China cut its five-year loan prime rate (LPR) by 15 basis points on Friday morning, a sharper cut than had been expected, as authorities seek to cushion an economic slowdown, though it left the one-year LPR unchanged. The five-year rate influences the pricing of mortgages. MSCI's broadest index of Asia-Pacific shares outside Japan quickly built on early gains after the cut, and was last up 1.4%.

Back home, Top traded Volumes on NSE Nifty – ITC Ltd. 78287713.00, Tata Motors Ltd. 17706724.00, ICICI Bank Ltd. 16661023.00, Infosys Ltd. 16561140.00, State Bank of India 14201420.00,

On NSE, total number of shares traded was 212.56 Crore and total turnover stood at Rs. 54147.64 Crore. On NSE Future and Options, total number of contracts traded in index futures was 485003 with a total turnover of Rs. 39172.84 Crore. Along with this total number of contracts traded in stock futures were 1137875 with a total turnover of Rs. 69058.70 Crore. Total numbers of contracts for index options were 208656124 with a total turnover of Rs. 17132694.38 Crore. and total numbers of contracts for stock options were 3745452 with a total turnover of Rs. 239986.05 Crore.

The FIIs on 19/05/2022 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 8893.77 Crore and gross debt purchased stood at Rs. 362.57 Crore, while the gross equity sold stood at Rs. 9794.46 Crore and gross debt sold stood at Rs. 299.53 Crore. Therefore, the net investment of equity and debt reported were Rs. -900.69 Crore and Rs. 63.04