The Indian equities are likely to open lower on Wednesday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and negative trend across the Asian markets. Overseas, markets across Asia were trading lower after Wall Street ended in red in overnight trade as investor sentiment were dented after the US President Donald Trump fired Secretary of State Rex Tillerson amid public rifts over policy on North Korea. Back home, bearish trend in the SGX Nifty Index Futures for March delivery, which was trading at 10,394.50, down by 34.5 points or 0.33 per cent, at 11:02 AM Singapore time, also signaled a negative start for local bourses. On the economy front, the Reserve Bank of India has scrapped bank guarantee instruments such as the Letter of Undertaking and Letter of Comfort following the recent PNB scam. On the corporate front, shares of Yes Bank acquired more than 17 per cent share in Fortis Healthcare. Among others, shares of IndusInd Bank will see some movement after the private lender said the Reserve Bank has approved the merger of Bharat Financial Inclusion Limited with the bank.
On Tuesday, the Indian equities ended lower, paring early gains, tracking mixed cues from Asian peers, as gains in oil&gas and realty stocks were offset by losses across IT and Teck space. However, the Market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 3020, shares advanced were 1803, while 1042 shares declined and 175 were unchanged. Among the thirteen sectoral indices, IT and Teck stocks emerged as top losers on BSE, falling as much as 1.56 per cent and 1.06 per cent, respectively. Among the individual stocks, Tata Consultancy Services plunged 5 per cent on the BSE after the promoter Tata Sons sold nearly 1.5 per cent stake in the IT bellwether through block deals. The 30-share benchmark index closed at 33856.78, down by 61.16 points or by 0.18 per cent, while the NSE Nifty ended at 10426.85, up by 5.45 points or by 0.05 per cent.
Top traded volumes on NSE Nifty were Tata Consultancy Services Ltd. 44033577.00, State Bank of India 37647221.00, Indian Oil Corporation Ltd. 18612673.00, Vedanta Ltd. 17819886.00, ICICI Bank Ltd. 15966647.00.
On NSE, total number of shares traded was 184.41 Crore and total turnover stood at Rs. 44691.56 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 367393 with a total turnover of Rs. 32091.40 Crore. Along with this total number of contracts traded in stock futures were 896073 with a total turnover of Rs. 61106.49 Crore. Total numbers of contracts for index options were 8284212 with a total turnover of Rs. 757164.00 Crore and total numbers of contracts for stock options were 640150 with a total turnover of Rs. 45369.06 Crore.
As on March 13, 2017 the FIIs turned as net seller in debt market, but turned net buyer in equity segment. Gross equity purchased stood at Rs. 5339.36 Crore and gross debt purchased stood at Rs. 955.60 Crore, while the gross equity sold stood at Rs. 3925.93 Crore and gross debt sold stood at Rs. 2406.90 Crore. Therefore, the net investment of equity and debt reported were Rs. 1413.43 Crore and Rs. -1451.30.