Indian Market Outlook: The last few weeks have witnessed choppy movement in the benchmark Nifty and this has been on the account of out performances by banking stock which had been pulling the Nifty up and under performances by IT stocks pulling it down. Nifty after an initial uptick of 8682 corrected downwards to 8620 levels before a 40 points pullback was witnessed at closing. Bank Nifty is trading in a range of 19250-19450 after giving a breakout last week. Today is the last day of August F&O series and volatility can be expected, FII and DII have started profit booking in cash segment and last few days combined data has been on the sell side.
Top 5 gainers for yesterday were Aurobindo Pharma, Tata Power, Maruti, Cipla and Zee Entertainment Ltd.
Nifty Futures is expected to open at 8678 as per SGX Nifty at 8:30 am IST, which is 24 points above its previous close of 8654.
Open Interest Index Futures
On 24th August of 2016, FII & Pro have sold 701775 shares combined, below average of 705075.
The total for the August expiry from the 29th July was 1347600 shares in Index Futures.
Open Interest Index Options
On 24th August of 2016, FII & Pro have sold 145350 shares combined, which is below the average of 2920650.
The total for the August expiry from the 29th was sell of 8756325 shares in Index Options.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have sold Rs. 39 Cr shares and DII have bought shares worth Rs. 129 Cr. Combined, net buying worth Rs. 90 cr was seen. Since 29th July 2016, FII have bought Rs.7263 crore worth shares where as DII have sold shares worth Rs. 4984 crores in the cash segment.
FII and DII combined have a net buy worth Rs. 2279 cr since 29th July 2016.
The combined FII and Pro have seen a marginal increase in short 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. 2279 Cr since 29th July 2016.
International Market Update
International Market Morning Update: International markets witnessed profit booking after being positive for two days. US Index S&P Futures too retraced by 18 points to 2172 from recent high of 2191, though the Index is in a range of 2170-2190 and there has been lack of momentum in Global Markets. Tomorrow, Fed Chief Janet Yellen speaks at Jackson Hole meeting where there is expectations that future interest rate hikes may be rolled out.
Today morning Asian market Nikkei is trading flat.
Index performance for last 1 week
|8||NIFTY ENERGY INDEX||1.15||-0.48|
|9||NIFTY PHARMA INDEX||1.12||-0.25|
|6||NIFTY MEDIA INDEX||1.03||1.75|
|3||NIFTY FINANCE INDEX||0.27||-0.07|
|10||NIFTY REALTY INDEX||0.26||-0.59|
|5||NIFTY IT INDEX||0.18||0.03|
|4||NIFTY FMCG INDEX||0.08||-0.31|
|1||NIFTY AUTO INDEX||0.03||-1.55|
|7||NIFTY METAL INDEX||-0.07||0.02|
|Index performance in last 1 day and 1 week. Figures show percentage change from previous 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.