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MARKET COMMENTARY

Sep-16-2024 08:53

Indian benchmarks are expected to start the day on a positive note on Monday. The GIFT Nifty futures were at 25,438, around 50 points ahead of Nifty futures last close.

In Asia, the Australian stock market is currently trading modestly higher on Monday, extending the gains in the previous two sessions, following the broadly positive cues from global markets on Friday. The Thai stock market has tracked higher in back-to-back sessions. The Hong Kong stock market has moved higher in two straight sessions.

On Friday, the 30-share benchmark index ended at 82890.94 down by -71.77 points or by -0.09 % and then NSE Nifty was at 25356.5 down by -32.4 points or by -0.13 %.

On the global front, Wall Street's main indexes closed higher on Friday as investors honed in on the chance of a bigger interest rate cut by the Federal Reserve next week.

The Dow Jones Industrial Average rose 297.01 points, or 0.72%, to 41,393.78, the S&P 500 gained 30.26 points, or 0.54%, to 5,626.02 and the Nasdaq Composite gained 114.30 points, or 0.65%, to 17,683.98.

Whereas, In the commodities market, Oil prices edged up as nearly a fifth of crude oil production in the Gulf of Mexico remained offline. Brent rose 19 cents to $71.78 a barrel, while US crude firmed 28 cents to $68.93 per barrel.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 54894255.00, Wipro Ltd. 17959853.00, Oil And Natural Gas Corporation Ltd. 13672371.00, Tata Motors Ltd. 13203676.00, State Bank of India 12950936.00.

On NSE Future and Options, total number of contracts traded in index futures was 340512 with a total turnover of Rs. 23501.26 Crore. Along with this total number of contracts traded in stock futures were 1302783 with a total turnover of Rs. 107065.98 Crore.

Total numbers of contracts for index options were 170567501 with a total turnover of Rs. 11814085.00 Crore. and total numbers of contracts for stock options were 7132637 with a total turnover of Rs. 602382.86 Crore.

The FIIs on 13/09/2024 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 23771.52 Crore, while the gross equity sold stood at Rs. 15809.71 Crore. Therefore, the net investment of equity were Rs. 7961.81 Crore.