Daily Market Update- Equity 6 Sep 2022 | Globe Capital
06-Sep-2022
Daily Market Update- Equity 6 Sep 2022

The new week kick started on a stellar note with Nifty index gaining 126 points to settle at 17665 levels.

Overview and Outlook

Global Market update

  • US equity markets were closed yesterday
  • Barring FTSE, other European equity markets were ended in red
  • Asian equity markets are trading mix
  • SGX Nifty is almost unchanged (as on 8:06 AM)

 

News Highlights from across the globe

  • Stocks in Asia advanced amid rise in US equity futures on Tuesday amid a dip in the dollar, uptick in sentiment.
  • Crude has climbed to about $89 a barrel after OPEC+ agreed to cut 100,000 barrels a day in October.

 

Important news & Earnings Updates from the domestic front

  • Narayana Hrudayalaya: The company has signed a Business Transfer Agreement with Shiva and Shiva Orthopaedic Hospital to acquire its Orthopedic and Trauma Hospital in Bengaluru on slump sale basis for Rs 200 crore.
  • NTPC: The company has acquired 600 MW Jhabua Power for Rs. 925 crore, out of which Rs. 325 crore was paid towards equity and Rs. 600 crore was paid for allotment of NCDs.
  • Delhivery: SBI Mutual Fund acquired more than 1.07 lakh equity shares in the company via open market transactions on September 1. With this, its stake in the company increased to 5 percent, up from 4.98 percent earlier.
  • Marksans Pharma: The company has redeemed 500,000 of 7 percent redeemable cumulative preference shares of Rs 100 each face value fully at par. Accordingly, there is no issued and paid-up preference share capital with effect from September 5.

 

Nifty Outlook

The new week kick started on a stellar note with Nifty index gaining 126 points to settle at 17665 levels.

Broader markets performed well, mid cap index was up 0.5% while Small cap index gained 1.19% leading to strong markets breadth.

All major sector gauges tracked at NSE settled in green, Media index was at the top of the tally, up 2.75% followed by Metal & Pvt Bank index that gained 1.6% and 1.12% respectively.

Nifty index is well placed on multiple chart frames, indicating bullish bias to continue ahead as well. We see it heading towards 17800/18000 levels in the immediate near term.

 

Derivatives Overview & Outlook

Yesterday, both Nifty and Banknifty futures added around 1.5% & 10.5% of open interest respectively as long buildup.

Majority of F&O sectors settled higher. Amongst them, Auto, Banking, Power and Capital Goods stocks witnessed maximum addition of long positions.

On options front, put writing was seen at multiple strikes along with call writing at 18000 strikes and maximum positions are at 18000 CE and 17500 PE.

 

FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 812 Cr in the cash segment, bought stocks futures worth Rs 826 Cr and also bought index futures worth Rs 1112 Cr.

On the other hand, DIIs were net buyers in the cash segment to the tune of Rs 534 Cr.

 

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 17750-17850; Supports 17640-17535

Banknifty Futures – Resistances 40250-40550; Supports 39600-39350

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