Indian Market Outlook:
Indian benchmark Nifty entered into a consolidation phase after opening on a positive note yesterday. The day’s range was less than 50 points as a result of which profit booking is expected. Since the crucial 9000 level is a psychological area for the Index, markets may find resistance at this level. However the bull market is intact and secular in nature. It is important to note that the NSE Small Cap Index registered its all time highs of 6309 before closing at 6275.
Yesterday Bhel declared its results and the stock jumped up 15%.Nifty was supported by Banking and automobile stocks while IT stocks were seen taking support over the past few trading sessions.
Open Interest Index Futures
On 7th September 2016, FII & Pro have sold 83925 shares combined, below average of 705075.
The total for the September expiry from the 26th August is 5108625 shares in Index Futures.
Open Interest Index Options
On 7th September 2016, FII & Pro have bought 546750 shares combined, below average of 2920650.
The total for the September expiry from the 26th August is 17935500 shares in Index Options.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought Rs. 854 Cr shares and DII have sold shares worth Rs. 769 Cr. Combined, net buying worth Rs. 86 cr was seen. For the September expiry FII and DII are net buyers worth 4585 Cr.
The combined FII and Pro have seen decrease in long position in Index future and increase in index options. In the cash segment FII and DII combined are net buyers of Rs. 4585 Cr for the September expiry.
International Market Outlook: International markets are stuck in the trading rage with ECB policy meet scheduled today at 5.15 pm Indian time. There are indications that the term of the stimulus can be extended which will be the big positive move for the markets.
The levels for US index SP futures will be 2192 and 2142 on the downside. The breakout above or below the mentioned levels can lead to fresh breakout with momentum.
European indices are in a range with positive bias and German Dax has closed above 10735 and will be trading in a narrow band till ECB policy is announced.
Stocks to watch out for 8th September, 2016
|Sectoral Index Performance for last trading day and last 1 week|
|Symbol||1D (%)||1W (%)|
|NIFTY METAL INDEX||0.99||2.27|
|NIFTY REALTY INDEX||0.66||3.06|
|NIFTY PHARMA INDEX||0.18||1.48|
|NIFTY FMCG INDEX||0.15||1.29|
|NIFTY AUTO INDEX||0.11||4.22|
|NIFTY MEDIA INDEX||-0.32||0.65|
|NIFTY IT INDEX||-0.43||-0.32|
|NIFTY ENERGY INDEX||-0.43||0.16|
|NIFTY FINANCE INDEX||-0.61||2.06|
|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.