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MARKET COMMENTARY

Sep-29-2022 08:32

The market is expected to open in the green as trends in SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 186 points.

Market action today, however, will be swayed by the F&O monthly expiry and the upcoming RBI policy action.

That apart, among stocks, Nykaa will be on the radar as the company’s board meeting will be held on October,3 to consider and approve the issuance of bonus shares.

Blue Dart Express will also be in focus as the company has announced average shipment price increase of 9.6 per cent for 2023 as compared to 2022.

On Wednesday, the 30-share benchmark index ended at 56598.28 down by -509.24 points or by -0.89 % and then NSE Nifty was at 16858.6 down by -148.8 points or by -0.87 %. On the global front, Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system.

The Dow Jones Industrial Average jumped 548.75 points, or 1.88%, to 29,683.74. The S&P 500 gained 1.97% to 3,719.04. The Nasdaq Composite was 2.05% higher at 11,051.64 at the close.

Shares in the Asia-Pacific rose at the open on Thursday following a rebound on Wall Street overnight. The rally in the US came after the Bank of England said it would intervene in the bond market to stabilise conditions. The Nikkei 225 in Japan advanced 1% and the Topix index gained 0.31%. Australia’s S&P/ASX 200 jumped 1.38%. In South Korea, the Kospi added 1.5%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.72%.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 71724106.00, Power Grid Corporation of India Ltd. 39658405.00, Tata Motors Ltd. 18114880.00, ITC Ltd. 15552911.00, Oil And Natural Gas Corporation Ltd. 15267018.00,

On NSE, total number of shares traded was 21.78 Crore and total turnover stood at Rs. 49623.97 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 704129 with a total turnover of Rs. 62688.82 Crore. Along with this total number of contracts traded in stock futures were 2249395 with a total turnover of Rs. 151919.29 Crore. Total numbers of contracts for index options were 157014940 with a total turnover of Rs. 14448468.25 Crore. and total numbers of contracts for stock options were 3523683 with a total turnover of Rs. 256448.05 Crore.

The FIIs on 28/09/2022 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 6844.27 Crore and gross debt purchased stood at Rs. 488.04 Crore, while the gross equity sold stood at Rs. 9884.21 Crore and gross debt sold stood at Rs. 1402.86 Crore. Therefore, the net investment of equity and debt reported were Rs. -3039.94 Crore and Rs. -914.82