Get Quotes

Market Menu

MARKET COMMENTARY

( As on Feb-22-2018 07:57 )
The Indian benchmark indices are set to open lower on Thursday amid muted cues from other Asian peers.

The Asian markets have opened on a lower note as the risk of faster hikes in U.S interest rates lifted short-term Treasury yields to the highest in almost a decade and boosted the dollar, while Wall Street closed lower in the previous trading session after the release of the minutes from the Federal Reserve’s January meeting pushed yields on the benchmark 10-year US Treasury note to a four-year high.

On the economy front, the markets may react to a report that India's GDP growth in the third quarter of the current fiscal is likely to be in the range of 6.5-7 percent and may expand further in following three months

Also, EPFO lowered the rate of interest on employees provident fund to 8.55 percent for its over 6-crore subscribers for 2017-18, from 8.65 percent in the previous fiscal.

The markets may remain volatile throughout the day as traders will roll their position from February series contract to March series contract on expiry today.

Muted trends in the SGX Nifty Index Futures for February delivery, which were trading at 10,355, down by 47 points or 0.45 per cent, at 10:36 AM Singapore time, signalled a flat to lower opening for the domestic bourses.

On Wednesday, the Indian equities ended higher, undermining weak cues from Asian peers, led by rally in IT and Teck stocks after Nasscom said the country’s IT exports could grow between 7 and 9 per cent in 2018-19.

The 30-share benchmark index closed at 33844.86, up by 141.27 points or by 0.42 per cent, and the NSE Nifty ended at 10397.45, up by 37.05 points or by 0.36 per cent.

Top traded Volumes on NSE Nifty – State Bank of India 23714454.00, Sun Pharmaceutical Industries Ltd. 21898950.00, YES Bank Ltd. 13342678.00, Vedanta Ltd. 12281795.00, Hindalco Industries Ltd. 11901519.00, On NSE, total number of shares traded was 134.23 Crore and total turnover stood at Rs. 27137.05 Crore. On NSE Future and Options, total number of contracts traded in index futures was 379119 with a total turnover of Rs. 32460.05 Crore. Along with this total number of contracts traded in stock futures were 1435792 with a total turnover of Rs. 98828.85 Crore. Total numbers of contracts for index options were 8036740 with a total turnover of Rs. 691749.16 Crore. and total numbers of contracts for stock options were 591936 with a total turnover of Rs. 42666.15 Crore. The FIIs on 21/02/2018 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 3077.55 Crore and gross debt purchased stood at Rs. 1295.27 Crore, while the gross equity sold stood at Rs. 3805.81 Crore and gross debt sold stood at Rs. 996.01 Crore. Therefore, the net investment of equity and debt reported were Rs. -728.26 Crore and Rs. 299.26.