- US equity markets ended on positive note, up in range 0.54% to 1.59%
- European equity markets ended on positive note
- Asian equity markets are trading on a positive note
- GIFT Nifty is up by 46 points (as on 8:20AM), Nifty likely to open at 19360.
India has created history by becoming the first country to land a spacecraft near the lunar south pole. The success of Chandrayaan-3 makes it only the fourth nation to achieve the milestone after the US, Russia, and China. The achievement by the Indian Space Research Agency was hailed across the world. The rover inside the lander has started moving on the lunar surface and begun scientific experiments. India did not just land on the moon but did it flawlessly and in style. This will provide a huge boost to the domestic space industry known for its low-cost but cutting-edge outcomes.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
The benchmark Nifty index settled on a positive note at 19444 levels after adding 47 points to its previous closing values.
Broader market outperformed the benchmark as Small-cap & Mid-cap index ended higher, up 0.91% and 0.66% respectively. The market breadth was inclined towards the advancing side as nearly 1.5 advances were recorded for every declining share at NSE.
Majority of sectoral indices tracked at NSE settled in green. Amongst them, Nifty PSU Bank & Pvt Bank indices were at the top of the tally gained, 1.72% and 1.26% respectively followed by Nifty Bank and financial Services that were up 1% and 0.92% respectively. On the other hand, Nifty FMCG index witnessed some selling pressure, down nearly 0.5%.
Technically, Nifty index is still trading in a range for past couple of sessions. Going ahead, we reiterate our short term sideways view on Nifty index till it is trading in 19250-19650 levels on a closing basis. Either side break and sustenance from the said range will open the doors for next directional move in that direction.
Derivatives Overview & Outlook
Yesterday, short covering was seen in Nifty future and Finnifty future with decrease in open interest by 0.8% and 13.2% respectively, long buildup was seen in Banknifty future with increase in open interest by 3.6%.
On the sectoral front, long buildup was seen in Finance and Media stocks whereas short buildup was seen in FMCG, Cement and Infrastructure shares. Initial sign of short covering was seen in Reality and Metals shares.
On options front, put writing was seen at multiple strikes and maximum positions are at 19300 PE and 19500 CE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 614 Cr in the cash segment, bought stocks futures and index futures worth Rs. 1418 Cr and Rs. 505 Cr respectively. DIIs were net buyer in the cash segment to the tune of Rs 125 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
F&O stocks in ban today: BHEL, DELTACORP, ESCORTS, GNFC, HINDCOPPER, IBULHSGFIN, INDIACEM, MANAPPURAM, METROPOLIS, PNB, SUNTV
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