- US equity markets ended on a flat to positive note
- European equity markets settled higher in range 0.41% to 1.50%
- Asian equity markets are trading on a mix note
- GIFT Nifty is little changed (as on 8:40AM)
The benchmark Nifty index witnessed a volatile trading session as RBI kept the repo rate unchanged at 6.50%, ended the session on a negative note at 19543 levels, down 89 points from its previous closing values.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
The benchmark Nifty index witnessed a volatile trading session as RBI kept the repo rate unchanged at 6.50%, ended the session on a negative note at 19543 levels, down 89 points from its previous closing values.
Midcap cap index outperformed the broader market as its ended on a flat to positive note while small-cap index performed in line with the benchmark. Resultant poor market breadth as 0.78 advances were recorded for every declining share at NSE.
Majority of sectoral indices tracked at NSE settled lower. Amongst them, Nifty Media index was at the top of the tally rallied over 6% followed by Nifty Metal index that was up by 0.68%. On the other hand, Nifty Bank, FMCG, Healthcare, Pharma and PSU Bank indices ended lower in range 0.72% to 0.91%.
Going ahead, we reiterate our short term sideways view on Nifty index till it is trading in 19300-19800 range. Either side break from this range will open the doors for next directional move in that direction.
Derivatives Overview & Outlook
Yesterday, long unwinding was seen in nifty future with decrease in open interest by 0.4%. Fresh short buildup was seen in banknifty future and finnifty future with increase in open interest by 9.9% and 6.5% respectively.
On the sectoral front, fresh long buildup was seen in media stocks. Fresh short buildup was seen in all major sector like banking, capital good, FMCG, metal, oil & gas, power and telecom shares. Long unwinding was seen in automobile, chemical, pharma and technology shares.
On options front, call writing was seen at multiple strikes and maximum positions are at 19500 PE and 19600 CE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 331 Cr in the cash segment, sold stocks futures and index futures worth Rs. 5066 Cr and Rs 1162 Cr respectively. DIIs were net buyer in the cash segment to the tune of Rs 704 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 19710-19770; Supports 19510-19440
Banknifty – Resistances 45150-45300; Supports 44520-44300
Finnifty – Resistances 20130-20200; Supports 19830-19740
F&O stocks in ban today: BALRAMCHIN, CANFINHOME, CHAMBLFERT, DELTACORP, GRANULES, HINDCOPPER, IBULHSGFIN, MANAPPURAM, ZEEL
Important Results Today: ABB, APOLLOHOSP, BEML, COCHINSHIP, CUB, GODREJIND, GRSE, HEG, JAMNAAUTO, JINDALSTEL, NAUKRI, NATIONALUM, NMDC, ONGC, PFC, RCF, RENUKA, RUPA, SUNTV, VOLTAS, ZYDUSLIFE
Disclosure
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Globe Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. Rolex Finvest Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are associates of GCML.
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