Indian Market Outlook: Nifty Index witnessed profit booking yesterday. After a positive opening, Nifty entered into correction zone falling by 50 points to take support at 8613. However, Nifty tried going up during the second half of the day but the bulls could not sustain the uptick and sell-off was seen during the closing hours. Bank Nifty cheered the appointment of new RBI governor and it made a new high in the opening minutes. However the bulls failed to keep the momentum going and profit booking crept-in which led to lower prices throughout the day. FII have sold shares worth Rs. 301 Cr for the 1st time in August. This may be considered as the first sign of market weakness.
Top 5 gainers for yesterday were Hindustan Uniliver, Zee Entertainment Ltd, Itc, Bhel and Idea.
Nifty Futures is expected to open at 8622 as per SGX Nifty at 8:30 am IST, which is 11 points below its previous close of 8633.
Open Interest Index Futures
On 22nd August of 2016, FII & Pro have sold 94575 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2511750 shares which indicates that Buy positions are still created in Index Futures.
Open Interest Index Options
On 22nd August of 2016, FII & Pro have sold 1515075 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 9419475 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 sold shares worth Rs. 310 Cr and DII have bought shares worth Rs. 53 Cr. Combined, net selling worth Rs. 248 cr was seen. Since 29th July 2016, FII have bought Rs.7303 crore worth shares where as DII have sold shares worth Rs. 4661 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 2641 cr since 29th July 2016.
The combined FII and Pro have seen a marginal decrease 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. 2641 Cr since 29th July 2016.
International Market Morning Update: International markets showed a mixed picture with US Index S&P Futures trading in a range of 2184-2175 yesterday but the German Dax sold off from highs of 10654 to 10386 before settling at 10540. The global markets momentum on the upside has eroded and is waiting for fresh triggers for any directional move.
Asian Markets are static with Japan’s NIkkei trading at 0.2% below its previous close.
Index performance for last 1 week
|Sectoral Index Performance for last trading day and last 1 week|
|Symbol||1D (%)||1W (%)|
|NIFTY FMCG INDEX||0.69||-0.03|
|NIFTY REALTY INDEX||0.05||1.25|
|NIFTY MEDIA INDEX||-0.14||0.9|
|NIFTY FINANCE INDEX||-0.24||1.24|
|NIFTY ENERGY INDEX||-0.59||0.23|
|NIFTY METAL INDEX||-0.8||2.3|
|NIFTY PHARMA INDEX||-0.98||0.47|
|NIFTY AUTO INDEX||-1.03||-0.21|
|NIFTY IT INDEX||-1.25||-3.64|
|Index performance for last 1 week and 1 month. Figures show percentage change from previous week close.|
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.