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MARKET COMMENTARY

( As on Nov-17-2017 08:30 )
Indian benchmark indices are likely to open higher on Friday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trend across global peers. Markets across Asia were trading higher after the Wall Street ended higher in overnight trade as the US House of Representatives passed its version of a tax overhaul bill, Reuters reported. Back home, bullish trend in the SGX Nifty Index Futures for November delivery, which were trading at 10,347.50, up by 87.5 points or 0.85 per cent, at 10:58 AM Singapore time, also signaled a positive start for local bourses. In a boost to the economy, global rating agency Moody's Investors Service has upgraded India’s sovereign rating to Baa2 from Baa3 with stable outlook, citing that the reforms undertaken by the government will improve the business climate, enhancing productivity, stimulating foreign and domestic investment. On the corporate front, HDFC Standard Life Insurance Company, which got overwhelming response for its Rs 8,695 crore initial public offering last week, will make a debut on the stock exchanges today. Among other, shares of Lupin will remain in focus after the US Food and Drug Administration (USFDA) issued a warning letter for two of its manufacturing facilities in Goa and Indore.

On Thursday, the Indian benchmarks ended higher in a broad-based rally, led by value-buying in select blue-chips, tracking firm cues from Asian peers. All the sectoral indices ended in green, with IT and Teck stocks emerging as top gainers on BSE, rising as much as 2.16 per cent to 1.87 per cent, respectively. The 30-share benchmark index closed at 33106.82, up by 346.38 points or by 1.06 per cent, and the NSE Nifty ended at 10214.75, up by 96.7 points or by 0.96 per cent.

Top traded volumes on NSE Nifty were State Bank of India 22506014.00, Power Grid Corporation of India Ltd. 10140289.00, ITC Ltd. 9959845.00, Bharti Airtel Ltd. 9627427.00, YES Bank Ltd. 9008654.00.

On NSE, total number of shares traded was 153.25 Crore and total turnover stood at Rs. 28952.11 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 190965 with a total turnover of Rs. 16143.27 Crore. Along with this total number of contracts traded in stock futures were 653767 with a total turnover of Rs. 45254.04 Crore. Total numbers of contracts for index options were 9631140 with a total turnover of Rs. 929454.41 Crore and total numbers of contracts for stock options were 489183 with a total turnover of Rs. 35456.34 Crore.

As on November 16, 2017 the FIIs turned as net buyer in equity segment, but turned net seller in debt market. Gross equity purchased stood at Rs. 7564.20 Crore and gross debt purchased stood at Rs. 1591.20 Crore, while the gross equity sold stood at Rs. 5733.42 Crore and gross debt sold stood at Rs. 1746.32 Crore. Therefore, the net investment of equity and debt reported were Rs. 1830.78 Crore and Rs. -155.12.