Tracking negative cues from the global peers, benchmark Nifty index opened with a gap on the downside and settled sharply lower at the 17554 level, down 272 points from previous closing values.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Outlook
Tracking negative cues from the global peers, benchmark Nifty index opened with a gap on the downside and kept sliding lower throughout the day, finally it settled sharply lower at the 17554 level, down 272 points from previous closing values.
The broader market performed in line with the benchmark as Nifty Midcap and Small cap fell over 1% each. Market breadth was heavily titled towards the declining side as 1795 declines were recorded against 458 advances at NSE.
All sectoral indices tracked at NSE settled lower where Nifty metal was the worst performer down over 2.5% followed by Media, Financial Services, PSU Bank, and Nifty Realty which were down 1.5% to nearly 2% each.
Going ahead, we expect markets to trade southward till the Index trading below 17800 levels, any pullback from a lower level should be considered as selling opportunity.
Derivatives Overview & Outlook
Yesterday, Nifty futures added around 11% of open interest as short buildup whereas Banknifty future remained almost unchanged on open interest front.
Nifty and Banknifty futures have rolled 55% and 59% 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 and 17500 PE.
FII & DII Trading Activity
Disclosure
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