Indian Market Outlook: Nifty in August clearing has seen a loss in momentum and this clearing has traded in a narrow range of 200 Points, the lowest of 2016. Yesterday’s movement saw Nifty breaking previous day low of 8601 by ten points before a recovery of 60 points was seen during closing hours. Bank Nifty is holding above the previous breakout level of 19200 to close at 19380. This close suggests that it can test 19500 in the next two trading sessions. FIIs have been net sellers in Index Options and Index Futures for consecutively second day.
Top 5 gainers for yesterday were Idea, Bank of Baroda, Infosys, HCL technologies and TCS.
Nifty Futures is expected to open at 8627 as per SGX Nifty at 8:30 am IST, which is 14 points below its previous close of 8641.
Open Interest Index Futures
On 23rd August of 2016, FII & Pro have sold 462375 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 2049375 shares which indicates that Buy positions are still created in Index Futures.
Open Interest Index Options
On 23rd August of 2016, FII & Pro have bought 808500 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 8610975 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 Rs. 19 lakh shares and DII have sold shares worth Rs. 452 Cr. Combined, net selling worth Rs. 452 cr was seen. Since 29th July 2016, FII have bought Rs.7303 crore worth shares where as DII have sold shares worth Rs. 5113 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 2189 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 long position in index options. In the cash segment FII and DII combined are net buyers of Rs. 2189 Cr since 29th July 2016.
International Market Update
International Market Morning Update: International markets are holding on to the upper price ranges with US Index S&P Futures retested all time high level of 2190 and is currently trading at 2183. German Dax has shown a positive uptick to close at 100 points above previous day’s close and Japan Nikkei is showing positive movement today.
Index performance for last 1 week
|Sectoral Index Performance for last trading day and last 1 week|
|1||NIFTY IT INDEX||1.64||-0.39|
|2||NIFTY MEDIA INDEX||0.77||1.77|
|5||NIFTY FINANCE INDEX||-0.12||0.83|
|6||NIFTY AUTO INDEX||-0.13||-1.25|
|7||NIFTY REALTY INDEX||-0.33||0.41|
|8||NIFTY METAL INDEX||-0.44||-0.09|
|9||NIFTY PHARMA INDEX||-0.56||-0.76|
|10||NIFTY FMCG INDEX||-0.95||-0.75|
|11||NIFTY ENERGY INDEX||-1.18||-0.35|
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.