11th October Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed positive at the end of the day. BSE Sensex was up by 381.23 points to 60059.06 and Nifty was up by 104.85 points to 17895.20

Reliance, Wipro, Infosys were the top gainers.

This week, investors' focus will firmly be on the September quarter earnings. The week will be dominated by earnings from large-cap IT companies such as Infosys, Wipro, and others.

Investors have continued to climb the wall of worry despite emerging concerns around inflation, a spike in bond yields in the US, and slowdown in global growth led by China.

RBI kept rates unchanged and maintained the status quo on accommodative stance.

FY22 GDP growth was maintained at 9.5% while trimming inflation worries by lowering CPI forecast from 5.7% to 5.3%

Interest rates are under pressure globally and we have seen the 10-year US treasury yield jump up to 1.58% from the lows of 1.18% seen in Aug’21

TCS on October 8 reported a consolidated net profit of Rs.9,624 crore for the quarter ended September 2021 (Q2FY22), registering a 14.1 percent year-on-year (YoY) growth, driven by broad-based demand and resilient margins.

Forex Reserves Down By $1.169 Billion To $637.477 Billion

U.S. Nonfarm Payrolls Data at 194 k vs Expected 500k

U.S. Unemployment Rate Data at 4.8% vs Expected 5.1%

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 17500. Maximum call open interest was seen at 18000 followed by 17800

Put Writing seen at 17900 followed by 18500

Call Writing seen at 18200 followed by 18300

India VIX fell 3.11 percent from 16.16 to 15.65 level.

Vix has to cool down below 15-14 levels to ensure a smooth ride for the market.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 58.91 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 64.01 crores, and DII's are net sellers 168.19 crores.

Options data suggests a trading range between 17600 to 18000.

Global Markets:

U.S Markets were closed Flat with negative at the end of the Day 

Dow Jones industrial average was down by 8.69 points or 0.025% to 34746.25

S&P 500 Index was down by 8.42 points or 0.19% to 4391.34

Nasdaq Composite was down by 74.48 points or 0.51% to 14579.54 

European markets were negative at the end of the day

Asian markets are trading mixed right now 07.30 IST

SGX Nifty trading 7.50 points lower to 17912 07.30 IST

SGX Nifty indicates a Flat opening for Indian markets.