Indian Market Outlook:
Indian benchmark index, Nifty, opened positive yesterday on strong global cues but the buying momentum was lacking. It traded in a range of 30 points before closing at 8725. Market participants are eagerly waiting for the RBI credit policy which will be announced today at 11 am IST. Any rate cut will be cheered by the markets. Nifty share price and Bank Nifty share price is expected to take directional move either side after the policy announcement.
Top 5 gainers were Hindalco, BPCL, Adani ports, Tata Power and Bosch LTD.
Nifty Futures is expected to open at 8740 as per SGX Nifty at 8:10 am IST, which is 11 points above its previous close of 8729.
Open Interest Index Futures
On 8th August of 2016, FII & Pro have bought 624225 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2335875 shares which indicates that Buy positions are still created.
Open Interest Index Options
On 8th August of 2016, FII & Pro have bought 1223025 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 3535125 shares which indicates that Sell positions are created for the clearing.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought shares worth Rs.1156 Cr and DII too have sold shares worth Rs. 876 Cr. Combined, net buying worth Rs. 280 cr was seen.
Since 29th July 2016, FII have bought Rs.3977 crore worth shares where as DII have sold shares worth Rs. 2237 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 1740 cr since 29th July 2016.The combined FII and Pro have seen a continued increase in long position in Index future and a decrease of short position in index options. In the cash segment FII and DII combined are net buyers of Rs. 1740 Cr since 29th July 2016.
International Market Outlook: International markets are showing lack of buying momentum as US benchmark index S&P Futures is unable to sustain above 2177-2178 levels despite trading above it yesterday. The US Index is a narrow range of 30 points for the past few weeks but the bias is positive and supported by European and Asian bourses. German Dax was positive and closed above 10400.Japanese Nikkei is trading in a broad range with a positive bias and is 0.11% above its previous close.
Result for 9th Aug, 2016:
1. The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision
2. Past performance is not an indicator of future returns.