Indian Market Outlook:
Indian benchmark Nifty is expected to open gap down despite strong closing yesterday at 8975. ECB President Mario Draghi has failed to match the expectations of the market, however the overall trend of the market is a buy, but marginal correction on the downside can set in.
Nifty’s support lies is at 8850 thus markets can retest to those levels. Yes Bank had to defer its QIP yesterday as the stock was down by over 5 percent and went below the QIP price. Nifty was supported yesterday by PSU banks and Auto shares, while IT and private sectors banks were a drag.
Nifty Small Cap Index traded at all time high with good overall participation. FII’s have been buyers yesterday and over the past few months, highlighting India’s strong fundamental story.
Nifty Futures is expected to open at 8953 as per SGX Nifty at 8:50 am IST, which is below its previous close of 8976.
Open Interest Index Futures
On 8th September 2016, FII & Pro have bought 20325 shares combined, below average of 705075.
The total for the September expiry from the 26th August is 5128950 shares in Index Futures.
Open Interest Index Options
On 8th September 2016, FII & Pro have bought 929850 shares combined, below average of 2920650.
The total for the September expiry from the 26th August is 18865350 shares in Index Options.
FII & DII Cash Buy/Sell Activity
Last trading day, FII’s have bought Rs. 111 Cr shares and DII have sold shares worth Rs. 587 Cr. Combined, net selling worth Rs. 476 cr was seen. For the September expiry FII and DII are net buyers worth 4109 Cr.
The combined FII and Pro have seen increase in long position in Index future and increase in index options. In the cash segment FII and DII combined are net buyers of Rs. 4109 Cr for the September expiry.
International Market Outlook: International markets entered into profit booking mode with SP Futures moving down to 2177 levels the fall was 12 points and German DAX was a top looser with a fall of 90 points with the possibility of correction setting in. ECB chief Mario Draghi failed to add more stimulus over and above the existing package.
Stocks to watch out for 9th September, 2016
|Sectoral Index Performance for last trading day and last 1 week|
|Symbol||1D (%)||1W (%)|
|NIFTY REALTY INDEX||2.87||5.2|
|NIFTY PHARMA INDEX||2.61||3.3|
|NIFTY METAL INDEX||1.04||3.47|
|NIFTY AUTO INDEX||0.95||4.04|
|NIFTY FMCG INDEX||0.77||1.74|
|NIFTY MEDIA INDEX||0.7||1.03|
|NIFTY FINANCE INDEX||0.56||2.13|
|NIFTY ENERGY INDEX||0.54||1.03|
|NIFTY IT INDEX||-2.47||-2.73|
|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.