News highlights from across the globe
The Reserve Bank of India’s Monetary Policy Committee is widely expected to keep the repo rate unchanged at its review meeting but is likely to adopt a cautious stance regarding rising threats of food inflation and excess liquidity in the system. While the market participants are keenly awaiting the RBI’s revised inflation and GDP forecasts, they are also keeping a close watch on any additional measures by the central bank to suck out the excess liquidity. The MPC has kept the repo rate unchanged at 6.5 percent in the past four monetary policy reviews, after raising the rate by 250 basis points since May 2022
Global Stock Market Today
Important news updates from the domestic front
Nifty Overview & Outlook
Derivatives Overview & Outlook
Yesterday, on price front no significant changes was seen in all three major index whereas on open interest front long build up was seen in Banknifty futures with 1.7% increase in open interest and Nifty futures open interest increased by 6.6% while no change was seen in Finnifty futures open interest.
On the sectoral front, long buildup was seen among Infrastructure, Power, Textile, Oil & Gas and Pharma stocks whereas short buildup was seen among FMCG and Metals shares.
On options front, Nifty will start the new weekly contract with maximum positions at 21000 CE and 20000 PE and closely followed by 20900 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1564 Cr in the cash segment, sold stocks futures worth Rs 2331 Cr and bought index futures worth Rs. 598 Cr. DIIs were also the net sellers in the cash segment to the tune of Rs 10 Cr only.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
BANSCRIPT – BALRAMCHIN, DELTACORP, IBULHSGFIN, INDIACEM, NATIONALUM, SAIL, ZEEL
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