Indian equities may open lower on Wednesday, tracking soft trend in Nifty futures on the Singapore Stock Exchange and mixed cues from the global markets. Overseas, Asian stocks were trading mostly lower as investors remained wary ahead of Federal Reserve policy decision and its stance on future rate hikes. In the overnight trade, Wall Street ended higher as trader cheered historic US-North Korea summit, while rally in technology stocks also boosted market sentiment. Back home, bearish trend in the SGX Nifty Index Futures for June delivery, which were trading at 10,821.50, down by 25.00 points, or 0.23 per cent, at 10:52 AM Singapore time, also signaled a negative start for local bourses. The investor may react to mixed macro data as factory output grew faster in April but retail inflation rose sharply in May. Industrial production surged by 4.9 per cent in April, from the five-month low of 4.4 per cent growth seen in March. However, the consumer price index-based inflation spiked to a four-month high of 4.87 per cent in May due to rising food prices and a lower base. On the corporate front, shares of Sun Pharma will remain in focus after USFDA issued EIR to the company’s Halol manufacturing unit in Gujarat. Among others, stocks of Unitech may also see some movement after the company’s consolidated losses widened to Rs 999.8 crore for the March quarter.
On Tuesday, Indian equities closed higher, tracking firm cues from Asian peers, as investor gave thumbs-up to US-North Korea summit in Singapore. In a one-on-one meeting, United States President Donald Trump and North Korean leader Kim Jong-un signed a “comprehensive” document, which is likely to ease geo-political tension in Korean peninsula. The investor also awaited slew of macro data such as consumer price index inflation and index of industrial production data will be released today. In line with the benchmark indices, the broader markets were trading higher, with MidCap and SmlCap indices gaining as much as 0.9 per cent and 0.54 per cent, respectively. The 30-share benchmark index closed trade at 35692.52, up by 209.05 points or by 0.59 per cent, and the NSE Nifty settled at 10842.85, up by 55.9 points or by 0.52 per cent.
Top traded volumes on NSE Nifty were State Bank of India 31358021.00, ICICI Bank Ltd. 14257648.00, YES Bank Ltd. 9851496.00, Vedanta Ltd. 9625030.00, Lupin Ltd. 8989742.00.
On NSE, total number of shares traded was 130.15 Crore and total turnover stood at Rs. 27770.94 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 181865 with a total turnover of Rs. 16717.44 Crore. Along with this total number of contracts traded in stock futures were 729666 with a total turnover of Rs. 48870.54 Crore. Total numbers of contracts for index options were 5125942 with a total turnover of Rs. 506626.84 Crore and total numbers of contracts for stock options were 581627 with a total turnover of Rs. 41479.59 Crore.
As on June 12, the FIIs stood as net seller in both equity and debt segments. Gross equity purchased stood at Rs. 4011.09 Crore and gross debt purchased stood at Rs. 389.87 Crore, while the gross equity sold stood at Rs. 5205.52 Crore and gross debt sold stood at Rs. 1342.83 Crore. Therefore, the net investment of equity and debt reported were Rs. -1194.43 Crore and Rs. -952.96.