Indian benchmark indices are expected to start the day marginally lower on May 31 as the SGX Nifty indicates a negative start. Investors will be eyeing the Q4 GDP growth rate and the key vote in the US for passing the deal on raising the borrowing limit.
The Q4 GDP growth will be closely watched on Wednesday, which is expected to improve, primarily driven by the manufacturing and services sectors. Polls project the March quarter growth to be between 5-5.5 per cent.
Further, shares of HDFC Life will be on the radar on reports that Abrdn will likely exit the company by selling its entire 1.66 per cent stake via block deals today.
Adani Ports will also be in focus as the company posted a 5 per cent on-year rise in consol profit to Rs 1,159 crore in Q4FY23.
On Tuesday, the 30-share benchmark index ended at 62969.13 up by 122.75 points or by 0.2 % and then NSE Nifty was at 18633.85 up by 35.2 points or by 0.19 %.
On the global front, US markets ended mixed. Tech-heavy Nasdaq gained 0.32 per cent, while the Dow Jones lost 0.15 per cent. The S&P 500 ended flat.
Asian equities were mostly weak this morning. Hang Seng, Nikkei slipped 1 per cent each. Strait times, S&P/ASX 200 were down up to 0.8 per cent. Shenzhen Component in China and Kospi in Sout Korea bucked trend and gained 0.3-0.4 per cent.
Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 33475211.00, ITC Ltd. 18900002.00, HDFC Bank Ltd. 18562964.00, ICICI Bank Ltd. 18483624.00, Oil And Natural Gas Corporation Ltd. 16117505.00,
On NSE, total number of shares traded was 24.37 Crore and total turnover stood at Rs. 54867.64 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 159349 with a total turnover of Rs. 15796.40 Crore. Along with this total number of contracts traded in stock futures were 644181 with a total turnover of Rs. 46178.31 Crore. Total numbers of contracts for index options were 294514130 with a total turnover of Rs. 25859790.17 Crore. and total numbers of contracts for stock options were 2613278 with a total turnover of Rs. 190165.44 Crore.
The FIIs on 30/05/2023 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 8329.46 Crore and gross debt purchased stood at Rs. 630.88 Crore, while the gross equity sold stood at Rs. 6039.04 Crore and gross debt sold stood at Rs. 991.93 Crore. Therefore, the net investment of equity and debt reported were Rs. 2290.42 Crore and Rs. -361.05