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MARKET COMMENTARY

Jul-10-2020 08:49

Indian benchmarks are expected to start the day on a negative note on Friday. Global cues, stock-specific action, and macro data will be the top factors that will give direction to the markets today. The IIP data is scheduled to be announced post market hours today.

The June quarter results of TCS will be a major focus for the Indian markets today. A total of 44 companies, including IRCTC, Lakshmi Vilas Bank, SAIL are scheduled to announce their quarterly numbers.

In the commodities market, Crude oil prices declined sharply on Thursday as a marked surge in the number of coronavirus cases in the U.S. on Wednesday raised fears of another lockdown and triggered concerns about near term energy demand outlook.

On Thursday, the 30-share benchmark index ended at 36737.69 up by 408.68 points or by 1.12 % and then NSE Nifty was at 10813.45 up by 107.7 points or by 1.01 %.

On the global front, U.S. stocks ended mostly lower Thursday as the relentless surge in coronavirus cases across America raised fears of another lockdown in several states and dimmed prospects for a quick economic recovery.

Meanwhile, Asian shares also opened lower on Friday. Australian ASX 200 was last down 0.4 per cent and Japan's Nikkei edged down 0.5 per cent. Meanwhile Hong Kong's Hang Seng index was up 0.3 per cent.

Back home, Top traded Volumes on NSE Nifty – State Bank of India 89540860.00, Tata Motors Ltd. 54492889.00, Hindalco Industries Ltd. 45180721.00, ICICI Bank Ltd. 35144717.00, GAIL (India) Ltd. 29516897.00.

On NSE, total number of shares traded was 30.09 Crore and total turnover stood at Rs. 52723.76 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 428040 with a total turnover of Rs. 28773.10 Crore. Along with this total number of contracts traded in stock futures were 716989 with a total turnover of Rs. 48438.05 Crore. Total numbers of contracts for index options were 55572973 with a total turnover of Rs. 3114196.42 Crore. and total numbers of contracts for stock options were 915823 with a total turnover of Rs. 65988.40 Crore.

The FIIs on 09/07/2020 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5355.74 Crore and gross debt purchased stood at Rs. 875.67 Crore, while the gross equity sold stood at Rs. 6415.20 Crore and gross debt sold stood at Rs. 619.05 Crore. Therefore, the net investment of equity and debt reported were Rs. -1059.46 Crore and Rs. 256.62.