Indian Market Outlook:
Indian markets had a strong start to trading yesterday with benchmark Nifty making a high of 8918 after a gap up opening. There was a round of profit booking which took Nifty down to 8865 before it stabilized to trade in a range. Nifty closed at 8880 with a gain of 73 points for the day. Banking stocks were out performers along with strong participation from PSU banks. Reliance and Maruti made fresh 52 weeks highs. NSE IT stocks came in for some profit booking. FII and DII are buyers in cash market, the support of 8800 should hold for the remainder of September series.
Nifty Futures is expected to open at 8889 as per SGX Nifty at 8:30 am IST, which is 9 points above its previous close of 8880.
Open Interest Index F&O and Cash Segment Activity
In Cash segment, last trading day, FII have bought shares worth Rs. 336.87 Cr and DII bought shares worth Rs. 310 Cr. A combined buy of Rs. 647 Cr. For this expiry, FII and DII together are buyers worth Rs. 2893 Cr.
In Index Options, last trading day, FII have bought 12902 contracts, below its 1 year average of 18280 contracts. Pro have bought 27286 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 40188 contracts, above its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 4405 contracts.
In Index Futures, last trading day, FII have sold 3512 contracts, below its 1 year average of 9706 contracts. Pro have bought 7047 contracts, above its 1 year average of 4903 contracts. Combined there has been a net buy of 3535 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 71439 contracts.
International Market Morning Update: International markets continued with strong uptrend and the buying was seen in both European as well as US Indices with German Dax showing a uptick of 2.4 percent closing above 10660. US Index S&P Futures remained strong throughout yesterday’s trading session with closing at 2168 just 23 points shy of all time high of 2191.
In Asia Nikkei resumed trading after a holiday and was trading flat.
List of Top Gainers and Losers on 22nd Sep 2016
Dynamic Sector Performance
The Percentage denotes Sector wise performance. PSU-Banks Sector rose by 2.46% and Financial Services – NBFC Sector was up by 2.27%
Stocks Near Support
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2. Past performance is not an indicator of future returns.