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MARKET COMMENTARY

Sep-16-2019 08:37

Indian benchmarks are expected to start the day on a weaker note on Monday amid mixed cues from the Asian peers.Trends on SGX Nifty also indicate a negative opening for the broader index in India. Further, investors will look at global cues, oil price movement, macro data for market direction today.

Investors will first look to the third tranche of stimulus measures announced by the government. In a bid to arrest the current economic slowdown, Finance Minister Nirmala Sitharaman on September 14 announced further relief measures with a focus on reviving the housing and export sectors.

On Friday, the 30-share benchmark ended at 37384.99 up by 280.71 points or by 0.76 % and then NSE Nifty was at 11075.9 up by 93.1 points or by 0.85 %.

On the global front, The S&P 500 ended the day down slightly on Friday but less than 1% below its all-time high as a drop in Apple stock countered cooling US-China trade tensions. Tariff-vulnerable industrials helped keep the blue-chip Dow in positive territory, which has now gained in eight straight sessions, its longest winning streak since May 2018.

The Dow Jones Industrial Average rose 37.07 points, or 0.14%, to 27,219.52, the S&P 500 lost 2.18 points, or 0.07%, to 3,007.39 and the Nasdaq Composite dropped 17.75 points, or 0.22%, to 8,176.71.

Markets in Asia were mixed with Japan shut for a public holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan was a tick lower at 515.4.

Australian shares were down 0.1% while South Korea’s KOSPI was a tad higher. E-Minis for the S&P 500 were off 0.4% while those for the Dow eased 0.3%. Back home, Top traded Volumes on NSE Nifty – YES Bank Ltd. 278285524.00, Tata Motors Ltd. 69088728.00, State Bank of India 27303181.00, Indian Oil Corporation Ltd. 25526748.00, Indiabulls Housing Finance Ltd. 18403949.00, On NSE, total number of shares traded was 172.81 Crore and total turnover stood at Rs. 30639.56 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 376168 with a total turnover of Rs. 25288.32 Crore. Along with this total number of contracts traded in stock futures were 882144 with a total turnover of Rs. 46561.27 Crore. Total numbers of contracts for index options were 12293997 with a total turnover of Rs. 800805.69 Crore. and total numbers of contracts for stock options were 876992 with a total turnover of Rs. 48613.20 Crore.

The FIIs on 13/09/2019 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 6417.96 Crore and gross debt purchased stood at Rs. 1639.72 Crore, while the gross equity sold stood at Rs. 3808.56 Crore and gross debt sold stood at Rs. 1543.34 Crore.

Therefore, the net investment of equity and debt reported were Rs. 2609.40 Crore and Rs. 96.38

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