Daily Market Update- Equity 25 Aug 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 25 Aug 2022

Nifty index ended flat after yet another volatile trading session, closed shop at 17604, up 27 points.

Overview and Outlook

Global Market update

  • US equity markets settled on flat to positive note
  • European equity markets ended on flattish note
  • Asian equity markets are trading mix
  • SGX Nifty is up 80 points (as on 8:05 AM)


News Highlights from across the globe

  • U.S. stocks rose aided by tech mega-caps even as investors await Federal Reserve’s chair Jerome Powell’s speech on Friday.
  • Oil prices rose in early Asian trade on Wednesday after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output, though bearish economic signals from central bankers and falling equities weighed.


Important news & Earnings Updates from the domestic front

  • NHPC: The company’s subsidiary NHPC Renewable Energy signed memorandum of understanding with the government of Rajasthan for setting up of 10 GW RE parks/projects at sites identified inside Rajasthan.
  • REC: The company has sold entire shareholding in Neemuch Transmission to Power Grid Corporation.
  • PSP Projects: The company has received contract worth Rs 257.35 crore taking its total order flow for FY23 till date to Rs 1,344.24 crore.
  • Wipro: The IT services provider has appointed Wagner Jesus as the country head and managing director for operations in Brazil. Wagner joined Wipro three years prior, taking the lead of the non-financial business cluster.
  • RBL Bank: College Retirement Equity Fund bought 45,84,678 shares or 0.7 percent stake in the bank via open market transactions at an average price of Rs 108.86 per share.


Nifty Outlook

Nifty index ended flat after yet another volatile trading session, closed shop at 17604, up 27 points.

Broader markets outperformed benchmark as Mid & Small cap index gained 0.7% and 0.8% respectively, leading to fairly positive market breadth.

Majority of sector gauges tracked at NSE settled in green, Realty & Media index gained maximum up 1.8% & 1.7% respectively.

Nifty index is trading with sideways to negative bias as of now; this view will change to positive once the benchmark index crosses 17700 spot levels.


Derivatives Overview & Outlook

Yesterday, Nifty futures remained almost unchanged on the price front and shed around 3% of open interest whereas Banknifty futures shed around 6.5% of open interest as short covering.

Nifty & Banknifty futures have rolled 65% & 58% of open interest respectively into next contracts so far.

On options front, call writing was seen at multiple strikes along with put writing at 17600 strikes and maximum positions are at 18000 CE followed by 17800 CE & 17000 PE followed by 17500 PE.


FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 23 Cr in the cash segment, sold stocks futures worth Rs 2239 Cr and sold index futures worth Rs 1329 Cr. DIIs were net sellers in the cash segment to the tune of Rs 322 Cr.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 17700-17815; Supports 17490-17400

Banknifty Futures – Resistances 39300-39700; Supports 38800-38500


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