Market Commentry

( As on Aug-07-2020 08:33 )

Domestic bourses are expeted to start the day on flat note on Friday amid mixed global cues. Besides global cues, investors will today focus on corporate results, and other stock-specific action.

On the result front, a total of 96 companies, including Mahindra & Mahindra, Cipla, Abbott India, and Cipla, are scheduled to report their quarterly earnings today.

Vodafone Idea yesterday reported a sharp rise in its losses to Rs 25,460 crore for the June quarter of FY21 due to high provisioning for statutory dues. HPCL, on the other hand, reported a 157 per cent jump in its June quarter net profit on the back of inventory gains and better than industry performance.

Mindspace Business Parks REIT is all set to debut on the bourses today. The Rs 4,500-crore IPO was subscribed 13 times during July 27-29.

On Thursday, the 30-share benchmark index ended at 38025.45 up by 362.12 points or by 0.96 % and then NSE Nifty was at 11200.15 up by 98.5 points or by 0.89 %.

On the global front, shares on Wall Street shrugged off a sluggish start and closed higher overnight as investors hoped for a new fiscal stimulus package. Overall, both the Dow Jones and the S&P500 gained 0.6 per cent each while the Nasdaq added 1 per cent. Asia shares were mixed in Friday's early deals. Hong Kong slipped 0.45 per cent, Nikkei was down 0.3 per cent while Kospi gained 0.33 per cent.

Back home, Top traded Volumes on NSE Nifty – Tata Motors Ltd. 60093689.00, State Bank of India 59740299.00, ICICI Bank Ltd. 48022799.00, Zee Entertainment Enterprises Ltd. 36848846.00, Axis Bank Ltd. 33465332.00,

On NSE, total number of shares traded was 27.85 Crore and total turnover stood at Rs. 58050.33 Crore.

The FIIs on 06/08/2020 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5981.80 Crore and gross debt purchased stood at Rs. 1131.67 Crore, while the gross equity sold stood at Rs. 6200.66 Crore and gross debt sold stood at Rs. 1455.52 Crore. Therefore, the net investment of equity and debt reported were Rs. -218.86 Crore and Rs. -323.85

On NSE Future and Options, total number of contracts traded in index futures was 531419 with a total turnover of Rs. 34566.16 Crore. Along with this total number of contracts traded in stock futures were 811434 with a total turnover of Rs. 58233.03 Crore. Total numbers of contracts for index options were 58695735 with a total turnover of Rs. 3822029.15 Crore. and total numbers of contracts for stock options were 942238 with a total turnover of Rs. 73544.21 Crore.