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MARKET COMMENTARY

( As on Dec-02-2022 08:50 )

The market is expected to open in the red on December 2 as trends in the SGX Nifty indicate a negative opening for the domestic equity benchmarks with a loss of 50 points.

In the primary market, the IPO of Uniparts India was subscribed 2 times on the second day of subscription on Thursday. The category for non-institutional investors was subscribed 3.41 times, the portion for retail investors got 2 times subscription and that of qualified institutional buyers (QIBs) attracted 97 per cent subscription.

In the secondary market, PB Fintech will be in focus as Softbank is said to sell 22.8 million shares (5 per cent stake) in the company via a block deal today.

On Thursday, the 30-share benchmark index ended at 63284.19 up by 184.54 points or by 0.29 % and then NSE Nifty was at 18812.5 up by 54.15 points or by 0.29 %.

On the global front, Overnight in the US, the Dow slid 0.56 per cent. The S&P 500 closed down 0.09 per cent lower, while the Nasdaq gained 0.13 per cent.

In Asia this morning, most indices declined even as China signaled to ease some Covid-19 restrictions. Nikkei was down 1.7 per cent, Strait times and Kospi fell up to 0.7 per cent. Hang Seng was flat.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 91702642.00, Oil And Natural Gas Corporation Ltd. 27727625.00, Coal India Ltd. 22435771.00, ITC Ltd. 16630417.00, ICICI Bank Ltd. 15920653.00, On NSE, total number of shares traded was 30.85 Crore and total turnover stood at Rs. 61705.04 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 281799 with a total turnover of Rs. 28463.78 Crore. Along with this total number of contracts traded in stock futures were 815364 with a total turnover of Rs. 56180.59 Crore. Total numbers of contracts for index options were 311585611 with a total turnover of Rs. 31991245.33 Crore. and total numbers of contracts for stock options were 3058759 with a total turnover of Rs. 215321.07 Crore.

The FIIs on 01/12/2022 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 39585.42 Crore and gross debt purchased stood at Rs. 467.30 Crore, while the gross equity sold stood at Rs. 30672.77 Crore and gross debt sold stood at Rs. 139.09 Crore. Therefore, the net investment of equity and debt reported were Rs. 8912.65 Crore and Rs. 328.21