The benchmark Sensex and Nifty indices are likely to start lower on Friday amid feeble global cues and weak domestic sentiment due to a sharp fall in the rupee.
At 8:10 am, the SGX Nifty futures were 100 points lower at 17,545 levels. In addition to global tepidness, market mood can also remain cautious today due to the weekend factor.
Following the US Fed's commentary that hinted at more large rate hikes ahead, the rupee crashed to an all-time low of 80.87/$ on Thursday as it suffered the steepest one-day fall since the Ukraine war.
Among stocks, Tata Steel will be in the limelight as the company’s board has approved the merger of 7 of its subsidiaries– Tata Metaliks, TRF, Tata Steel Mining, Indian Steel & Wire Pdts, S&T Mining, Tata Steel Long Pdts, and Tinplate– with itself.
On Thursday, the 30-share benchmark index ended at 59119.72 down by -337.06 points or by -0.57 % and then NSE Nifty was at 17629.8 down by -88.55 points or by -0.5 %.
On the global front, the S&P 500 slid 0.8 per cent on Wednesday, while the Nasdaq slipped 1.4 per cent and the Dow fell 0.3 per cent.
Major Asian markets were also weak this morning. Nikkei and Hang Seng fell up to 0.6 per cent. Strait times, Kospi and S&P/ASX 200 were down 0.8-1.7 per cent.
Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 61380323.00, ITC Ltd. 24179987.00, Power Grid Corporation of India Ltd. 19698398.00, Tata Motors Ltd. 13600786.00, State Bank of India 11869435.00,
On NSE, total number of shares traded was 27.17 Crore and total turnover stood at Rs. 64631.00 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 523261 with a total turnover of Rs. 49579.35 Crore. Along with this total number of contracts traded in stock futures were 1017563 with a total turnover of Rs. 74971.98 Crore. Total numbers of contracts for index options were 336084405 with a total turnover of Rs. 32677683.66 Crore. and total numbers of contracts for stock options were 4117354 with a total turnover of Rs. 324093.42 Crore.
The FIIs on 22/09/2022 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 7043.83 Crore and gross debt purchased stood at Rs. 239.76 Crore, while the gross equity sold stood at Rs. 7322.33 Crore and gross debt sold stood at Rs. 1298.14 Crore. Therefore, the net investment of equity and debt reported were Rs. -278.50 Crore and Rs. -1058.38