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MARKET COMMENTARY

( As on Nov-13-2018 08:43 )
Indian equities may open lower on Tuesday, continue its losing streak for the second session, tracking bearish trends in SGX Nifty Index Futures and weak cues from global peers. Overseas, the Asian stocks were trading lower, following a weak US session onernight, led by decline in technology and energy stocks. Back home, bearish trends in the SGX Nifty Index Futures for November delivery, which were trading at 10,451.00, down by 49.00 points or 0.47 per cent, at 11:00 AM, Singapore Time, also indicated a negative start for local bourses. Traders will also react to robust macro data as India’s factory output grew 4.5 per cent in September and Retail inflation cooled to 3.31 per cent in October, limiting chances of rate hike by the Reserve Bank of India. On the corporate front, shares of Jet Airways will remain in focus after the company reported its third consecutive quarterly losses, with a consolidated net loss of Rs 1,261 crore, dented by higher fuel cost and falling rupee. On the earnings front, big names Sun Pharma, Tata Steel, Grasim Industries, Allahabad Bank, Apollo Tyres, Glenmark Pharma, IRCON International and NMDC, will release their earnings numbers today.

The benchmark indices settled around 1 per cent lower on Monday tracking weakness in the Asian markets and rise in global oil prices. The rupee traded on a weak note on Monday slipping below the 73-per US dollar mark to hit 73.06 in intra-day trade, down from its previous close of 72.49 against the greenback. On the global front, Asian shares drifted lower on Monday as signs of softening demand in China rekindled anxiety about the outlook for world growth, but Saudi Arabia’s plans to cut production helped to halt a slide in oil prices. The 30-share benchmark ended at 34812.99 down by 345.56 points or by 0.98 per cent, while the NSE Nifty was at 10482.2 down by 103 points or by 0.97 per cent.

Top traded Volumes on NSE Nifty were YES Bank Ltd. 29069172.00, State Bank of India 24044907.00, Tata Motors Ltd. 20789180.00, Titan Company Ltd. 13985301.00, Vedanta Ltd. 11801858.00.

On NSE, total number of shares traded was 130.64 Crore and total turnover stood at Rs. 27416.73 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 295818 with a total turnover of Rs. 19310.95 Crore. Along with this total number of contracts traded in stock futures were 806641 with a total turnover of Rs. 44992.50 Crore. Total numbers of contracts for index options were 8331629 with a total turnover of Rs. 473231.58 Crore and total numbers of contracts for stock options were 585741 with a total turnover of Rs. 34034.15 Crore.

As on November 12, 2018, the FIIs stood as net seller in both equity and debt markets. Gross equity purchased stood at Rs. 3078.09 Crore and gross debt purchased stood at Rs. 569.47 Crore, while the gross equity sold stood at Rs. 5781.41 Crore and gross debt sold stood at Rs. 929.54 Crore. Therefore, the net investment of equity and debt reported were Rs. -2703.32 Crore and Rs. -360.07.