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MARKET COMMENTARY

Dec-07-2021 08:40

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 84 points.

Supportive global cues and stock-specific action will guide the markets today.

In the primary market, RateGain Travel Technologies Ltd will open its three-day initial public offer today. The company has fixed a price band of Rs 405-425 per share and hopes to garner close to Rs 1,336 crore at the upper price band of the offer.

On Monday, the 30-share benchmark index ended at 56747.14 down by -949.32 points or by -1.65 % and then NSE Nifty was at 16912.25 down by -284.45 points or by -1.65 %.

On the global front, Wall Street's major indices closed higher on Monday with economically sensitive sectors and travel-related stocks soaring as investors were encouraged by some optimistic comments from a top U.S. official on the latest COVID-19 variant.

The S&P 500 gained 52.37 points, or 1.15%, to end at 4,590.80 points, while the Nasdaq Composite gained 137.12 points, or 0.91%, to 15,222.59. The Dow Jones Industrial Average rose 642.29 points, or 1.87%, to 35,222.37. Stocks across Asia-Pacific rose on Tuesday, after Wall Street rallied on optimism that the omicron variant risk might not be as bad as feared.

Japan’s Nikkei 225 rose 0.25%, while the Topix was up 0.34%. Over in Australia, the S&P/ASX 200 rose 0.44%. South Korea’s Kospi, however, edged down 0.17%. Back home, Top traded Volumes on NSE Nifty – Coal India Ltd. 24185368.00, ICICI Bank Ltd. 20129080.00, Tata Motors Ltd. 17473075.00, State Bank of India 14353300.00, JSW Steel Ltd. 13699768.00,

On NSE, total number of shares traded was 37.13 Crore and total turnover stood at Rs. 50664.02 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 340153 with a total turnover of Rs. 29835.78 Crore. Along with this total number of contracts traded in stock futures were 640188 with a total turnover of Rs. 47083.18 Crore. Total numbers of contracts for index options were 57058051 with a total turnover of Rs. 5066768.01 Crore. and total numbers of contracts for stock options were 1733417 with a total turnover of Rs. 131790.14 Crore.

The FIIs on 06/12/2021 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 7800.55 Crore and gross debt purchased stood at Rs. 590.86 Crore, while the gross equity sold stood at Rs. 10755.73 Crore and gross debt sold stood at Rs. 854.68 Crore. Therefore, the net investment of equity and debt reported were Rs. -2955.18 Crore and Rs. -263.82