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MARKET COMMENTARY

( As on Aug-14-2018 08:31 )
Indian equities may see flat to positive opening on Tuesday, tracking muted trend across SGX Nifty Index Futures and mixed cues from global peers. Overseas, Asian stocks were trading higher as investor digested economic troubles in Turkey which have gripped global financial markets. In the overnight trade, Wall Street ended lower, led by decline in financial and energy stocks, as the Turkey's central bank failed to stop a steep plunge in that nation's currency. Back home, muted trends in the SGX Nifty Index Futures for August delivery, which were trading at 11,393.50, up by 3.50 points or 0.03 per cent, at 8.05 AM India time, also indicated a flat to positive opening for local bourses. The market may see stock specific movement as slew of companies will announce their quarterly results today. On the economy front, retail inflation cooled to a nine-month low in July thanks to a sharp decline in price increase of food and beverages, which is likely to provide some room to the Reserve Bank of India to contain raising interest rates. On the corporate front, shares of Allahabad Bank will remain in focus after the government terminated Allahabad Bank managing director Usha Ananthasubramanian from service for involvement in USD 2 billion Nirav Modi scam. On the earnings front, big companies like Sun Pharma, DB Realty, Fortis Healthcare, SpiceJet, Grasim Industries, and IDBI Bank, will report their quarterly earnings later in the day.

Weighed down by selling across oil&gas, financial and PSU stocks, the Indian benchmark indices closed lower on Monday. Adding to it, weak cues from global peers also dented sentiment at Dalal Street. Index heavy weigh Staten Bank of India continued gaining streak for the second session and fell over 3 per cent after the country’s largest lender reported a net loss of Rs 48.75 billion for the April-June 2018 period due to huge provisions. The 30-share benchmark index closed trade at 37644.9, down by 224.33 points or by 0.59 per cent, and the NSE Nifty ended at 11355.75, down by 73.75 points or by 0.65 per cent.

Top traded Volumes on NSE Nifty were State Bank of India 58127432.00, ICICI Bank Ltd. 15332907.00, Tata Motors Ltd. 13877900.00, Vedanta Ltd. 12726787.00, Coal India Ltd. 11139623.00.

On NSE, total number of shares traded was 147.77 Crore and total turnover stood at Rs. 29316.77 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 189373 with a total turnover of Rs. 18228.06 Crore. Along with this total number of contracts traded in stock futures were 742754 with a total turnover of Rs. 52180.84 Crore. Total numbers of contracts for index options were 5299979 with a total turnover of Rs. 553137.68 Crore and total numbers of contracts for stock options were 690913 with a total turnover of Rs. 53064.23 Crore.

As on August 13, 2018, the FIIs stood as net buyer in both equity and debt markets. Gross equity purchased stood at Rs. 5496.16 Crore and gross debt purchased stood at Rs. 652.20 Crore, while the gross equity sold stood at Rs. 4163.75 Crore and gross debt sold stood at Rs. 288.10 Crore. Therefore, the net investment of equity and debt reported were Rs. 1332.41 Crore and Rs. 364.10.