Tracking global cues, Nifty index opened on a strong note, failed to hold at higher levels and settled on a flattish note at 17512 levels, up 25 points.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Tracking global cues, Nifty index opened on a strong note, failed to hold higher levels and settled on a flattish note at 17512 levels, up 25 points.
Broader markets performed in line with benchmark as both Mid & Small cap index settled on flattish note.
Sector performance was mix, IT & metal index lost maximum, down 0.9% and 0.68% respectively while Oil & Gas index was at the top of the tally, up 0.58%.
Markets will be volatile on Thursday as well due to weekly derivatives expiry, on levels front, breakout above 17600 will open the gates for a further up move towards 17700/800 levels in the immediate near term.
Derivatives Overview & Outlook
Yesterday, no significant activity was seen on Nifty & Banknifty futures on price as well as on open interest front.
On sectoral front, long buildup was seen among Cement and Infra stocks whereas some short buildup was seen among Chemical, FMCG, Metal and IT stocks.
On options front, put writing was seen at multiple strikes along with call writing at multiple strike and maximum positions are at 17600 CE and 17500 PE followed by 17000 PE.
FII & DII Trading Activity
Yesterday, FIIs sold stocks worth Rs 454 Cr in the cash segment, bought stocks futures worth Rs 155 Cr and sold index futures worth Rs 141 Cr. DIIs were net buyers in the cash segment to the tune of Rs 908 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 17600-17700; Supports 17430-17325
Banknifty Futures – Resistances 40670-41000; Supports 40200-40000
Earnings Today – ITC, Colgate Palmolive, Asian Paints, Axis Bank, Bajaj Finance, Canara Bank, Central Bank of India, Coforge, Zensar Technologies, Union Bank of India, United Breweries, Tata Consumer Products among others
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