Indian Market Outlook:
Indian benchmark Nifty had a lackluster movement last week where it moved in a narrow band of 125 points. Bank Nifty is trading at 2016 highs and has closed at 19425 near the psychological high of 19500. The appointment of Dr. Patel as new RBI governor should go well with the market as it signals the continuity of the Tenure’s Policy Measures of Dr. Rajan.
State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Bhartiya Mahila Bank will be in focus as SBI has approved its merger with these banks.
Top 5 gainers for yesterday were Bank of Baroda, SBI, Hindalco, Aurobindo Pharma and Ambuja Cements.
Nifty Futures is expected to open at 8680 as per SGX Nifty at 8:30 am IST, which is at its previous close of 8677.
Open Interest Index Futures
On 19th August of 2016, FII & Pro have bought 39900 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2606325 shares which indicates that Buy positions are still created in Index Futures.
Open Interest Index Options
On 19th August of 2016, FII & Pro have sold 91500 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 7904400 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. 410 Cr and DII have bought shares worth Rs. 106 Cr. Combined, net buying worth Rs. 516 cr was seen. Since 29th July 2016, FII have bought Rs.7603 crore worth shares where as DII have sold shares worth Rs. 4714 crores in the cash segment. FII and DII combined have a net buy worth Rs. 2889 cr since 29th July 2016.
The combined FII and Pro have seen a marginal increase in long position in Index future and a increase of short position in index options. In the cash segment FII and DII combined are net buyers of Rs. 2889 Cr since 29th July 2016.
International Market Morning Update:
International markets have been trading in a range for last six weeks with uncertainty in the absence of any clarity about when US FED will increase short term interest rates. The major US, European and Asian markets have been in a buy trend but the buying momentum has subsided over the past few weeks. Today morning SP futures and Japan Nikkei are trading flat.
Index performance for last 1 week
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.