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MARKET COMMENTARY

Jul-16-2019 08:35

The SGX Nifty suggests a flat to negative start for the broader index in India on Tuesday. Investors may react primarily to June quarter earnings, global cues, and stock-specific action in today's trading session. HDFC Asset Management Company, TV18 Broadcast, DCB Bank and seven other companies will announce their June quarter results today.

On the global front, Asian shares inched up on Tuesday as traders awaited US retail sales data and more corporate earnings to gauge the health of the world’s biggest economy, with markets remaining focused on a likely US rate cut by the end of the month.

Early in the Asian trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.04 percent. Australian shares were up 0.1 percent and Japan’s Nikkei stock index dipped 0.36 percent.

The benchmark S&P 500 index ended little changed on Monday after oscillating between positive and negative territory throughout the session after Citigroup Inc kicked off the earnings season with a mixed quarterly report.

The rupee on July 15 advanced by 15 paise to close at 68.54 against the US currency, tracking gains in domestic equities and weakness in the greenback overseas. At the interbank foreign exchange market, the rupee opened at 68.59 a dollar and advanced to a high of 68.51 during the day. It finally settled at 68.54, up 15 paise against its previous close of 68.69.

On Monday, the 30-share benchmark index closed at 38896.71 up by 160.48 points or by 0.41 per cent, while the NSE Nifty was at 11588.35 up by 35.85 points or by 0.31 per cent.

Top traded Volumes on NSE Nifty – YES Bank Ltd. 126736904.00, Infosys Ltd. 31064152.00, Tata Motors Ltd. 19924720.00, Sun Pharmaceutical Industries Ltd. 18269604.00, State Bank of India 15665939.00, On NSE, total number of shares traded was 116.53 Crore and total turnover stood at Rs. 26361.69 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 201667 with a total turnover of Rs. 14712.76 Crore. Along with this total number of contracts traded in stock futures were 689492 with a total turnover of Rs. 41665.21 Crore. Total numbers of contracts for index options were 9457609 with a total turnover of Rs. 666557.53 Crore. and total numbers of contracts for stock options were 761005 with a total turnover of Rs. 49332.31 Crore.

The FIIs on 15/07/2019 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 4862.21 Crore and gross debt purchased stood at Rs. 1564.30 Crore, while the gross equity sold stood at Rs. 5584.73 Crore and gross debt sold stood at Rs. 911.76 Crore. Therefore, the net investment of equity and debt reported were Rs. -722.52 Crore and Rs. 652.54

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