The Indian benchmark indices are set to open flat on Thursday amid steady cues from other Asian peers.
The Asian markets have opened on a steady note, while Wall Street closed higher in the previous trading session led by gains in Retail and technology stocks.
On the economy front, the rupee recovered from 16-month low levels to close higher by 27 paise at 67.80 against the US currency on suspected RBI intervention to stem further fall in the domestic currency. Also, total investments via participatory notes (P-notes) into Indian capital markets plunged to a 9-year low of Rs 1 lakh crore in April amid stringent norms by the Securities and Exchange Board of India.
Also, for the first time, the Reserve Bank of India’s Monetary Policy Committee (MPC) will meet for three days in June for the second bi-monthly policy review instead of the usual two days.
Also, JSW Steel, Tata Steel shares will be in focus after their Q4 performance beat estimates.
Muted trends in the SGX Nifty Index Futures for May delivery, which were trading at 10,767.50, up by 3.50 point or 0.03 per cent, at 10:32 AM Singapore time, signalled a flat to higher opening for the domestic bourses.
The Indian equities ended lower on Wednesday, mirroring weakness in the Asian market, as investor remained wary amid continued uncertainty over the formation of government in Karnataka. The 30-share benchmark index closed trade at 35387.88, down by 156.06 points or by 0.44 per cent, and the NSE Nifty settled at 10741.1, down by 60.75 points or by 0.56 points per cent.
Top traded Volumes on NSE Nifty – ICICI Bank Ltd. 25515791.00, ITC Ltd. 18062869.00, Hindalco Industries Ltd. 17297698.00, State Bank of India 17222004.00, YES Bank Ltd. 12708109.00, On NSE, total number of shares traded was 154.29 Crore and total turnover stood at Rs. 33295.81 Crore.
On NSE Future and Options, total number of contracts traded in Along with this total number of contracts traded in stock futures were 53662 with a total turnover of Rs. 3710.14 Crore. and total numbers of contracts for stock options were 39880 with a total turnover of Rs. 2992.18 Crore. The FIIs on 16/05/2018 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5348.46 Crore and gross debt purchased stood at Rs. 493.97 Crore, while the gross equity sold stood at Rs. 5532.49 Crore and gross debt sold stood at Rs. 860.75 Crore. Therefore, the net investment of equity and debt reported were Rs. -184.03 Crore and Rs. -366.78