Indian Market Outlook:
Nifty witnessed a sharp correction last week because of Indo-Pak tensions. Nifty corrected from a high of 8800 to 8593, a fall of 207 points on Thursday. The Index traded between 8669 and 8593 on Friday which was the first day of the October Contract. The India VIX, the fear gauge of Indian Indices, is still trading at 17.18, signaling that fear still holds its grip tight on the Indian markets. If the tension at the LOC subsides we might see a sharp buying at these levels as investors would rush in to buy fundamentally strong stocks at a better price. The all important RBI Credit Policy is due on tomorrow the 4th of October, and analysts suggest that Governor Patel will hold status Quo on the Interest Rates.
Nifty Futures is expected to open at 8672 as per SGX Nifty at 8:30 am IST, which is 22 points above its previous close of 8650.
Open Interest Index F&O and Cash Segment Activity
This week was marked by the expiry of F&O September series, Where FII and DII together have bought 7753 Cr worth shares. In Options FII and Pro combined have sold 73393 contracts in the September expiry whereas in Index futures FII and DII combined have sold 26681 contracts. In cash segment, on the first trading day of October Series day, FII have sold shares worth Rs. 1028.31 Cr and DII bought shares worth Rs. 1560 Cr. A combined buy of Rs. 532 Cr.
In Index Options, on the first trading day of October Series day, FII have sold 33207 contracts, above its 1 year average of 18280 contracts. Pro have bought 16785 contracts, below its 1 year average of 27670 contracts. Combined there has been a net sell of 16422 contracts, below its 1 year average of 39000 contracts.
In Index Futures, on the first trading day of October Series, FII have sold 21846 contracts, above its 1 year average of 9706 contracts. Pro have bought 712 contracts, below its 1 year average of 4903 contracts. Combined there has been a net sell of 21134 contracts above its 1 year average of 9401 contracts.
International Market Morning Update:
International markets have been holding strong since last few weeks. S&P 500 Futures has been trading in a range of 2130 to 2170 with a positive bias. Currently S&P is trading at 2162.
European markets were gripped by the fears of failure of the Deutche Bank, whose prices made all time low last week. However, the Deutsche Bank has settled its fine with the US Justice Department which resulted in its prices soaring from a low of 9.89 to 11.71. Today German Dax is closed on Unification Day.
Chinese markets are closed for the day on account of their National day.
List of Top Gainers and Losers between 26th -30th Sep 2016
Stocks Near Support
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2. Past performance is not an indicator of future returns.