The week starting from October 6 is set to be the biggest ever for the primary market in terms of fund raising size as seven IPOs worth much more than Rs 30,000 crore will hit Dalal Street. Though it is smaller in terms of number of IPOs seen in previous two weeks.
Non-banking finance company Tata Capital will be the first to launch its Rs 15,512-crore IPO on October 6 with price band of Rs 310-326 per share. This would be the largest initial share sale by the NBFC in India.
Global Stock Market Today
The benchmark Nifty index settled slightly higher at 24894 spot levels after adding 58 points to its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices gained 0.83% & 0.69% respectively.
Majority of sectoral indices ended on a flat to positive note. Amongst them, Nifty Metal index was the top performer, rose 1.82% followed by PSU Bank and Consumer Durable index that rose over 1% each.
Technically, Nifty index bounced back from the trendline support placed around 24600 spot levels. Going ahead, it is likely to test 25000 spot levels but for any sustainable up move it needs to breach 25000 spot levels decisively on closing basis. On the flip side, 24800-24770 spot levels will provide immediate support on the down side.
Derivatives Overview & Outlook
Last Friday, Nifty, Banknifty and Finnifty futures added around 4.5%, 2% and 20.5% of open interest respectively as long buildup while no significant changes were observed in Midcapnifty future on open interest front.
All F&O sectors, barring Pharma, settled on a positive note. Amongst them, Banking & Finance, Cement and Oil&Gas stocks witnessed maximum addition of long positions along with some short covering was seen in Auto stocks.
On options front, put writing along with some call writing was seen at multiple strikes. Maximum positions are at 24000 PE followed by 24800 PE and 26000 CE followed by 25000 CE.
Institutional Trading Activity
Last week, FIIs sold stocks worth Rs 6780 Cr in the cash segment, bought stocks futures worth Rs 1914 Cr and sold index futures worth Rs 5726 Cr. DIIs were net buyers in the cash segment to the tune of Rs 13014 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25110-25220; Supports 24880-24780
Banknifty – Resistances 56000-56200; Supports 55600-55400
Finnifty – Resistances 26650-26720; Supports 26400-26300
F&O Security in Ban Today: RBLBANK
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