- US equity markets ended on negative note, up in range 0.51% to 0.63%
- European markets ended on a mix note.
- Asian equity markets are trading in red.
- GIFT Nifty is little changed (as on 8:30AM), Nifty futures likely to open around 19700 levels.
The Consumer Price Index-based inflation stood at 5.02% in September, as compared with 6.83% in August, according to data from the Ministry of Statistics and Programme Implementation released on Thursday. Food and beverage inflation rose to 6.3% in September, as compared with 9.19% during August. Core inflation fell to 4.6% in September, from 4.8% in August. This was the lowest since April 2020.
Global Stock Market Today
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
Benchmark Nifty index settled marginally lower at 19794 levels after a lackluster trading session.
Broader markets outperformed the benchmark as Small & Midcap index was up 0.65% and 0.33% respectively.
Majority of sectoral indices tracked at NSE settled in green. Amongst them, Nifty Media index gained the most, up over 3% followed by Nifty Auto, Metal and Oil& Gas index that settled higher in range 0.78% to 1%. On the other hand, Nifty IT Index witnessed some selling pressure, down over 1.5%.
Technically, Nifty index is well placed on multiple chart frames. Going ahead, we reiterate our bullish view on Nifty index and suggest traders to maintain buy on dips trading approach till it is trading above 19650-19600 zones.
Derivatives Overview & Outlook
Yesterday, no significant action was seen in all three index futures on price front whereas on open interest front short covering was seen in Banknifty futures with 2.8% decrease in open interest and long buildup was seen in Finnifty futures with 3.8% increase in open interest.
On sectoral front, long buildup was seen in Automobile, Media, Pharma and Infra stocks whereas some short buildup was seen in Reality and Technology stocks.
On options front, call writing along with put writing was seen at multiple strikes and maximum positions are at 19800 PE and 19800 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1863 Cr in the cash segment, sold stocks futures worth Rs 1064 Cr and bought index futures and Rs 253 Cr. DIIs were net buyer in the cash segment to the tune of Rs 1532 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 19900-19960; Supports 19700-19600
Banknifty – Resistances 44900-45100; Supports 44400-44200
Finnifty – Resistances 20090-20190; Supports 19890-19790
BANSCRIPT – BALRAMCHIN, BHEL, DELTACORP, HINDCOPPER, IBULHSGFIN, INDIACEM, L&TFH, MANAPPURAM, PNB, SUNTV
Key Results Today – HDFCLIFE
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