Tracking global cues, Nifty index opened on a weak note, kept falling throughout the day to settle at the day’s low at 17490 levels, down 267 points.
Global Market update
News Highlights from across the globe
Important news & Earnings Updates from the domestic front
Tracking global cues, Nifty index opened on a weak note, kept falling throughout the day to finally settle at the day’s low at 17490 levels, down 267 points.
Broader markets performed in line with benchmark, Mid & Small cap index were down 2.02% and 1.63% respectively, leading to extremely weak market breadth.
All sector gauges tracked at NSE settled in red, Metal & PSU Bank index lost maximum, down 2.98% and 2.12% respectively.
Nifty index is falling on expected lines, sustenance below 17500 is a sign of weakness indicating further decline. There are higher chances of Nifty index drifting lower towards 17150 levels in the immediate near term.
Derivatives Overview & Outlook
Yesterday, both Nifty & Banknifty futures shed around 6% & 12% of open interest respectively as long unwinding.
Nifty & Banknifty futures have rolled 36% & 34% of open interest respectively into next contracts so far.
On options front, call writing was seen at multiple strikes and maximum positions are at 18000 CE & 17000 PE.
FII & DII Trading Activity
Yesterday, FIIs sold stocks worth Rs 454 Cr in the cash segment, sold stocks futures worth Rs 214 Cr and bought index futures worth Rs 542 Cr. DIIs too were net sellers in the cash segment to the tune of Rs 85 Cr.
Nifty Futures & Bank Nifty Futures Key Levels
Nifty Futures – Resistances 17600-17700; Supports 17400-17280
Banknifty Futures – Resistances 38600-39000; Supports 38000-37700
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