Daily Market Update- Equity 7 Sep 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 7 Sep 2022

Nifty index ended flat after lackluster trading session where steep moves were witnessed on both sides, finally the benchmark settled at 17665 levels, down 10 points.

Overview and Outlook

Global Market update

  • US equity markets were down in rnage 0.4 to 0.74%
  • European equity ended on flat to positive note
  • Asian equity markets are trading in red
  • SGX Nifty is down nearly 200 points (as on 8:16 AM)


News Highlights from across the globe

  • Stocks fell on Wednesday amid a rise in U.S. Treasury yields and the dollar on expectations of aggressive monetary tightening by the Federal Reserve.
  • Wall Street’s main indices closed lower on Tuesday, the first session after the US Labor Day holiday and summer vacations, as traders assessed fresh economic data in volatile trading.
  • Oil prices sank on Tuesday after a two-day rally as concern returned about weaker demand and the prospect of more interest rate hikes trumped support from OPEC+’s first output target cut since 2020.


Important news & Earnings Updates from the domestic front

  • Wipro: The company has entered an expanded collaboration with Palo Alto Networks to deliver managed security and network transformation solutions like Secure Access Service Edge, cloud security and next-generation Security Operations Center solutions based on Zero Trust principles for global enterprises.
  • PTC India: The company clarified that media report regarding setting up a plant by PTC in Nepal is “incorrect”. No negotiations related to setting up of a plant in Nepal has taken place with any entity.
  • InterGlobe Aviation: Petrus Elbers joins the company as Chief Executive Officer with effect from Sept. 6.
  • Paras Defence & Space Technologies: The company has entered into an exclusive teaming agreement with ELDIS Pardubice, Czech Republic to provide turnkey anti-drone systems for civilian airports in India.
  • Astral: The company has received order from NCLT sanctioning Scheme of Amalgamation of subsidiaries Resinova Chemie Limited and Astral Biochem Private Limited with itself.
  • Hatsun Agro Product: Promoter Raja Ganesan Chandramogan sold 27.20 lakh equity shares or 1.26 percent stake in the company via open market transactions at an average price of Rs 987.8 per share.


Nifty Outlook

Nifty index ended flat after lackluster trading session where steep moves were witnessed on both sides, finally the benchmark settled at 17665 levels, down 10 points.

Broader markets performed in line with benchmark, settled on flattish note, leading to flat market breadth.

Sector performance was mix, Metal index & Oil & Gas index outshined, gained 1.32% & 1.15% respectively while Private Bank index was at the bottom of the tally, down 0.47%.

Nifty index has once again entered trading range 17400-17800 levels, an either side break from this range will lead to next directional move, until then indecisive movement will continue.


Derivatives Overview & Outlook

Yesterday, no significant activity was seen among Nifty and Banknifty futures on price as well as on open interest front.

On sectoral front, long buildup was seen among Auto, Capital Goods and Power stocks whereas short buildup was seen among Chemicals and IT stocks.

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


FII & DII Trading Activity

Yesterday, FIIs bought stocks worth Rs 1145 Cr in the cash segment, sold stocks futures worth Rs 1005 Cr and also sold index futures worth Rs 488 Cr.

DIIs too were net buyers in the cash segment to the tune of Rs 633 Cr.


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