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MARKET COMMENTARY

May-23-2022 08:40

After a volatile week, the Sensex and Nifty are likely to start Monday's trade on a tepid note as SGX Nifty futures fizzled out early gains.

The SGX Nifty June futures came off highs and were quoting at 16,262 levels at 7:30 am, largely unchanged from the last close.

Investors will continue to watch out for developments on the geo-political front. In the latest update, Ukraine has ruled out a ceasefire or ceding any territory to Russia, in another sign of no resolution of the conflict.

Among stocks, Zomato, Divis Labs, Century Textiles, and Data Patterns will be in focus ahead of their Q4 results today.

On Friday, the 30-share benchmark index ended at 54326.39 up by 1534.16 points or by 2.91 % and then NSE Nifty was at 16266.15 up by 456.75 points or by 2.89 %.

On the global front, fears of recession propelled the S&P500 briefly into a bear market on Friday before it closed flat. Some recovery also led the Dow to close unchanged, while the Nasdaq fell 0.3 per cent. However, stock futures in the US gained over 1 per cent on Monday.

Asian markets were mixed this morning. Nikkei rose 0.88 per cent, Kospi and S&P/ASX 200 gained up to 0.5 per cent. Shanghai Composite, Shenzhen Composite and Strait Times were flat. Hang Seng opened 0.5 per cent down.

Meanwhile, oil prices remain elevated, trading up to 0.8 per cent higher in early deals. Brent Crude and WTI were at $113 and $111 a barrel, respectively.

Back home, Top traded Volumes on NSE Nifty – ITC Ltd. 32370771.00, Tata Motors Ltd. 23504236.00, NTPC Ltd. 17841739.00, State Bank of India 13596860.00, ICICI Bank Ltd. 11695528.00,

On NSE, total number of shares traded was 203.46 Crore and total turnover stood at Rs. 53004.90 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 539383 with a total turnover of Rs. 44471.38 Crore. Along with this total number of contracts traded in stock futures were 1328508 with a total turnover of Rs. 81273.84 Crore. Total numbers of contracts for index options were 59490114 with a total turnover of Rs. 4970286.77 Crore. and total numbers of contracts for stock options were 4438187 with a total turnover of Rs. 288824.74 Crore.

The FIIs on 20/05/2022 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 6509.27 Crore and gross debt purchased stood at Rs. 533.41 Crore, while the gross equity sold stood at Rs. 10352.10 Crore and gross debt sold stood at Rs. 365.61 Crore. Therefore, the net investment of equity and debt reported were Rs. -3842.83 Crore and Rs. 167.80