Category : Market Commentary
Headline : Pre-Session: Sensex, Nifty likely to start on positive note today
Date and Time : Feb-22-2024 08:55

Indian benchmarks are expected to start the day on a positive note on Thursday. Global trends, stock-specific action, and the weekly F&O expiry will guide the markets today.

Asian markets were higher this morning with Japan's Nikkei (up 1.5 per cent) hitting record highs. South Korea's Kospi (up 0.47 per cent), Australia's ASX200 (up 0.02 per cent), Hong Kong's Hang Seng (up 0.25 per cent), and China's Shanghai Composite (up 0.44 per cent) were other gainers.

On Wednesday, the 30-share benchmark index ended at 72623.09 down by -434.31 points or by -0.59 % and then NSE Nifty was at 22055.05 down by -141.9 points or by -0.64 %.

On the global front, U.S. stocks ended mixed overnight as Nvidia earnings loomed and minutes from the Federal Reserve's Jan. 30-31 meeting revealed most officials remain wary of cutting interest rates "too quickly," fearing progress on inflation could stall out.

In commodities, Oil prices rose slightly on Thursday, holding to gains from the previous session that came amid signs of tighter supply. Gold and silver experienced a dip following the release of the FOMC meeting minutes on Wednesday, as the tone of Federal Reserve members was slightly more hawkish than anticipated.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 88000833.00, Power Grid Corporation of India Ltd. 24651085.00, HDFC Bank Ltd. 22946568.00, State Bank of India 21465311.00, ITC Ltd. 19414653.00.

On NSE, total number of shares traded was 50.15 Crore and total turnover stood at Rs. 105968.15 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 434102 with a total turnover of Rs. 37497.10 Crore. Along with this total number of contracts traded in stock futures were 1278871 with a total turnover of Rs. 109826.41 Crore.

Total numbers of contracts for index options were 876820113 with a total turnover of Rs. 65873184.58 Crore. and total numbers of contracts for stock options were 6361367 with a total turnover of Rs. 559797.41 Crore.

The FIIs on 21/02/2024 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 15007.68 Crore and gross debt purchased stood at Rs. 2402.28 Crore, while the gross equity sold stood at Rs. 12034.18 Crore and gross debt sold stood at Rs. 563.33 Crore. Therefore, the net investment of equity and debt reported were Rs. 2973.50 Crore and Rs. 1838.95.