- US equity markets settled higher in range 1.17% to 2.48%
- European equity markets were up in range by 0.89 to 1.99%
- Asian equity markets are also trading in green
- SGX Nifty is up over 100 points (as on 8:15 AM)
Asian equities advanced on Friday after a rescue package for First Republic Bank fueled a rebound in US shares.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Benchmark Nifty Index ended on a flat note, settled at 16985 levels with a marginal gain of just 13 points after a highly volatile trading session.
Small cap index underperformed the benchmark as it fell 0.52% while Midcap index outperformed the benchmark, rose 0.50%. The market breadth was inclined toward the declining side as 1408 declines were recorded against 889 advances at NSE.
Majority of the sectoral indices settled higher, Nifty Media was at top of the tally, gained over 4% followed by FMCG and Realty index that were up over 1% each. On the other hand, Nifty Metal led the decline, fell over 2.50%.
Going ahead, we are expecting a relief rally towards 17250-17300 levels in near term. On levels front, it has strong supports around 16800-16750 levels while resistance is placed around 17250-17300 zones.
Derivatives Overview & Outlook
Yesterday, Nifty, Banknifty and Finnifty futures added around 1% to 2% of open interest each as long buildup.
On the sectoral front, long buildup was seen among Banking and Finance stocks along with short covering among FMCG, Cement and Power stocks whereas some short buildup was seen among Metal stocks.
On options front, Nifty will start the new weekly contract with maximum positions at 17000 PE and 17800 CE closely followed by 17000 CE.
FII & DII Trading Activity
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