( As on Feb-20-2019 08:49 )
Indian benchmark equity indices may open higher on Wednesday ahead of the 33rd GST Council meeting, due later in the day and the release of the minutes of US Fed’s January policy review. According to news reports, the government is expected to cut GST rates on under-construction residential properties. Asian stocks gained a tad on Wednesday after US-China trade talks resumed while investors awaited minutes from the US Federal Reserve for clues on policymakers’ thinking on interest rates and its balance sheet reduction policy. Among major development, an indicator released by the World Trade Organisation (WTO) to gauge global trade for January-March, 2019, has hit a nine-year low. Back home, bullish trends in the SGX Nifty Index Futures for February delivery, were trading at 10,669.50 up 56.00 by or 0.53 per cent, at 11:02 AM, Singapore Time, also indicated a positive start for local bourses.Allahabad Bank, Central Bank of India and Dena Bank may be next in line to be taken out of the Reserve Bank of India’s prompt corrective action (PCA) framework, with the government likely to inject more capital into these lenders and hopes of better loan recovery through the insolvency resolution mechanism. The government is expected to provide another Rs 12,500 crore of capital in the current quarter to banks that have capital ratios below the mandatory level.

On the corporate front, GIC and Mitsubishi Corporation are likely to pick 25-30 per cent stake in GMR Airports. The deal is expected to be announced very soon. YES Bank on Tuesday denied any wrongdoing stating that the ‘zero divergence’ disclosure was done to comply with the listing regulations and to ensure information symmetry. Indian Hotels on Tuesday announced its entry into the homestay market with a new brand Ama Trails & Stays. The 30-share index settled at 35352.61 down by -145.83 points or by -0.41 per cent and then NSE Nifty was at 10604.35 down by -36.6 points or by -0.34 per cent.

Top traded Volumes on NSE Nifty – ITC Ltd. 34451117.00, YES Bank Ltd. 33990276.00, State Bank of India 19064306.00, Tata Motors Ltd. 14533142.00, ICICI Bank Ltd. 14384763.00,

On NSE, total number of shares traded was 127.83 Crore and total turnover stood at Rs. 26096.69 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 296788 with a total turnover of Rs. 19815.53 Crore. Along with this total number of contracts traded in stock futures were 757187 with a total turnover of Rs. 43189.60 Crore. Total numbers of contracts for index options were 12167893 with a total turnover of Rs. 757875.96 Crore. and total numbers of contracts for stock options were 797972 with a total turnover of Rs. 47491.30 Crore.

As on February 19, 2019, the FIIs stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 3406.01 Crore and gross debt purchased stood at Rs. 582.51 Crore, while the gross equity sold stood at Rs. 6075.84 Crore and gross debt sold stood at Rs. 1242.92 Crore. Therefore, the net investment of equity and debt reported were Rs. -2669.83 Crore and Rs. -660.41.
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