Indian equities may open lower on Thursday, tracking bearish trends in SGX Nifty Index Futures and weak cues from global peers. Overseas, the Asian stocks were bleeding in red, after sharp sell-off in the US stocks in overnight trade, with Japan’s Nikkei 225, Hang Seng and Shanghai composite down over 3 per cent as trade wars and risks in emerging markets currencies weighed on investor sentiment. Back home, bearish trends in the SGX Nifty Index Futures for October delivery, which were trading at 10,220.00, down by 260 points or 2.48 per cent, at 10:48 AM, Singapore Time, also indicated a negative opening for local bourses. On the sectoral front, investor will keep an eye on aviation stocks after the government on Wednesday cut excise duty on jet fuel to 11 per cent, a move that would provide some respite to aviation industry. On the corporate front, shares of Tata Consultancy Services (TCS) will remain in focus as IT bellwether will announce its September quarter earnings today. Among others, shares of Zee Entertainment will also see some movement after the company’s consolidated net profit declined by 38.2 per cent to Rs 386.7 crore.
On Wednesday, Indian benchmarks made a strong comeback after the recent rout as investors started accumulating battered financials, auto and metal stocks amid the rupee recovering from record lows. RBI's decision to inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet festive season demand for funds also boosted the sentiment here, market watchers said. Sentiment also got a lift after the SBI, coming to the rescue of cash-strapped NBFCs, decided Tuesday to buy their assets to the tune of Rs 45,000 crore, a move that will provide liquidity support to non-banking financing companies facing headwinds after a series of loan defaults by IL&FS group firms. The 30-share benchmark index ended at 34760.89 up by 461.42 points or by 1.35 per cent, while the NSE Nifty was at 10460.1 up by 159.05 points or by 1.54 per cent.
Top traded Volumes on NSE Nifty were YES Bank Ltd. 52351177.00, Tata Motors Ltd. 35670907.00, State Bank of India 31772330.00, ICICI Bank Ltd. 23972064.00, Axis Bank Ltd. 13695001.00.
On NSE, total number of shares traded was 172.87 Crore and total turnover stood at Rs. 37739.57 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 336613 with a total turnover of Rs. 29795.15 Crore. Along with this total number of contracts traded in stock futures were 1023932 with a total turnover of Rs. 63051.73 Crore. Total numbers of contracts for index options were 11009522 with a total turnover of Rs. 1057635.51 Crore and total numbers of contracts for stock options were 653105 with a total turnover of Rs. 43762.09 Crore.
As on October 10, 2018, the FIIs stood as net seller in both equity and debt markets. Gross equity purchased stood at Rs. 5549.76 Crore and gross debt purchased stood at Rs. 871.78 Crore, while the gross equity sold stood at Rs. 6373.16 Crore and gross debt sold stood at Rs. 1596.76 Crore. Therefore, the net investment of equity and debt reported were Rs. -823.40 Crore and Rs. -724.98.