Indian benchmarks are expected to start the day on a negative note on Tuesday.Investors will shift their focus to the three-day Monetary Policy Committee meeting of the RBI that begins today even though concerns over the health of the domestic economy may keep investor sentiment in check. Analysts see the MPC slashing rates by up to 25 basis points (bps), along with a marginal cut in FY20 gross domestic product (GDP) growth forecast.
Also, the price hikes announced by Bharti Airtel and Vodafone Idea across prepaid segments will come into effect from today.
Apart from this, oil price, rupee's trajectory, and foreign fund flow will also influence market direction.
On Monday, the 30-share benchmark index ended at 40802.17 up by 8.36 points or by 0.02 % and then NSE Nifty was at 12048.2 down by -7.85 points or by -0.07 %.
On the global front, In the overnight trade, US stocks, too, settled lower on economy and trade jitters. The Dow Jones Industrial Average fell 0.94 per cent, to 27,786.44, the S&P 500 lost 0.85 per cent to 3,114.14 and the Nasdaq Composite dropped 1.12 per cent to 8,567.99.
Meanwhile, Asian shares skidded on Tuesday after US President Donald Trump stunned markets with tariffs against Brazil and Argentina, recharging fears about global trade tensions, while weak US factory data added to the investor gloom.
Back home, Top traded Volumes on NSE Nifty – YES Bank Ltd. 361756071.00, Bharti Airtel Ltd. 55735805.00, Zee Entertainment Enterprises Ltd. 34042733.00, Bharti Infratel Ltd. 26310842.00, State Bank of India 20648850.00,
On NSE, total number of shares traded was 31.54 Crore and total turnover stood at Rs. 39279.95 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 215436 with a total turnover of Rs. 16199.40 Crore. Along with this total number of contracts traded in stock futures were 925565 with a total turnover of Rs. 47113.38 Crore. Total numbers of contracts for index options were 9817494 with a total turnover of Rs. 717494.82 Crore. and total numbers of contracts for stock options were 660309 with a total turnover of Rs. 35854.45 Crore.
The FIIs on 02/12/2019 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5929.62 Crore and gross debt purchased stood at Rs. 1264.68 Crore, while the gross equity sold stood at Rs. 6680.77 Crore and gross debt sold stood at Rs. 1073.71 Crore.
Therefore, the net investment of equity and debt reported were Rs. -751.15 Crore and Rs. 190.97