Indian Market Outlook:
Nifty had a quiet session yesterday with benchmark indices breaking previous day lows and reversing from there. Nifty is holding on the major support of 8550 and today State Bank of India and host of other PSU Banks will announce their Quarterly Results which will set the tone for the markets. Bank Nifty is also holding on to 18500 support and today being last trading day of the week huge volatility can be expected when results will be announced.
Top 5 gainers for yesterday were Eicher Motor, Idea, BPCL, Lupin and ITC.
Nifty Futures is expected to open at 8622 as per SGX Nifty at 8:20 am IST, which is at its previous close of 8622.
Open Interest Index Futures
On 11th August of 2016, FII & have bought 141900 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2950950 shares which indicates that Buy positions are still created in Index Futures.
Open Interest Index Options
On 11th August of 2016, FII & Pro have bought 87300 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 15962925 shares which indicates that Sell positions are created for the clearing in Index Options.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought shares worth Rs.608 Cr and DII too have sold shares worth Rs. 622 Cr. Combined, net selling worth Rs.14 cr was seen. Since 29th July 2016, FII have bought Rs.5142 crore worth shares where as DII have sold shares worth Rs. 4216 crores in the cash segment. FII and DII combined have a net buy worth Rs. 926 cr since 29th July 2016.
The combined FII and Pro have seen a continued increase in long position in Index future and a increase of long position in index options. In the cash segment FII and DII combined are net buyers of Rs. 926 Cr since 29th July 2016.
International markets showed strong upsides with German Dax index making fresh weekly highs to close at 10720. US Index S&P Futures retested 2184 and is finding it difficult to generate momentum on the upside. Today Morning Japan Nikkei is showing a positive movement on backdrop of strong US markets.
Asian Nikkei and the Philippines Indexes are up 0.72% and 0.03% respectively.
Stocks to watch out for 12th August, 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.