Indian equities are likely to start week on bullish note on Monday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trading across Asian markets. On Friday, Wall Street ended higher though investors remained cautious over US political turmoil after media reported of possible Russia's involvement in the US election campaign. Back home, bullish trend in the SGX Nifty Index Futures for May delivery, which were trading 9,480.50, up by 26.50 points or 0.28 per cent, at 10:42 AM Singapore time, also signaled a higher opening for local bourses. However, market may see some volatility amid expiry of May futures and options contracts this week. On the economy front, India is set to witness improvement in the overall conditions, owing to GST roll-out as the government has finalized tax structure for services under the new tax regime, which won’t put extra burden on the common man’s pocket. Adding to it, sustained buying by foreign institutional investors, who have pumped in more than USD 2 billion in India so far this month, on hopes that the Narendra Modi-led NDA government would accelerate the pace of reforms after victory in recently concluded state assembly elections. On the corporate front, investors will react to earnings of Corporation Bank after the State-run lender reported a net profit of Rs 159.98 crore for the fourth quarter of 2016-17 fiscal, compared to a net loss of Rs 510.9 crore in the same quarter last year. On the earnings front, Bank of India, Den Network, Engineers India, GAIL, Godrej Industries, and Texmaco Rail, will remain in focus as they will unveil March quarter results today. Among others, India Grid Trust, which plans to raise Rs Rs 2,250 crore through initial public offering (IPO), was subscribed 1.35 times on the final day of the offer on Friday.
On Friday, Indian benchmark indices ended the day on a flat note after bears took charge, which dragged the markets lower from a gap-up opening. The 30-share barometer SENSEX closed at 30464.92, up by 30.13 points or by 0.1 per cent, and the NSE Nifty ended at 9427.9, down by 1.55 points or by 0.02 per cent. In the choppy trade, Sensex touched intraday high of 30712.35 and intraday low of 30338.52 The NSE Nifty touched intraday high of 9505.75 and intraday low of 9390.75.
Top traded Volumes on NSE Nifty were State Bank of India 55250969.00, ITC Ltd. 35724128.00, Bank of Baroda 31521446.00, ICICI Bank Ltd. 15208154.00, Hindalco Industries Ltd. 11428477.00.
On NSE, total number of shares traded was 150.81 Crore and total turnover stood at Rs. 29193.68 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 291430 with a total turnover of Rs. 22768.18 Crore. Along with this total number of contracts traded in stock futures were 975920 with a total turnover of Rs. 71523.24 Crore. Total numbers of contracts for index options were 6361896 with a total turnover of Rs. 491554.97 Crore and total numbers of contracts for stock options were 781047 with a total turnover of Rs. 60538.50 Crore.
As on May 19, 2017, the FIIs emerged as net buyer in both equity and debt segments. Gross equity purchased stood at Rs 5969.89 Crore and gross debt purchased stood at Rs. 927.57 Crore, while the gross equity sold stood at Rs. 5610.17 Crore and gross debt sold stood at Rs. 368.26 Crore. Therefore, the net investment of equity and debt reported were Rs. 359.72 Crore and Rs. 559.31.