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Daily Market Report:
The Indian Equity benchmark indices BSE Sensex and Nifty 50 ended positive Yesterday. BSE Sensex was up by 318.05 points to 54843.98 and Nifty up by 82.15 points to 16364.40.
Nifty was trading in a range of 16176 - 16359 for the past 6 days, broke upwards Yesterday, and closed at 16364.40
Power grid, Tech Mahindra, Tata Motors was the top gainer.
The factory output index PPI grew by 13.6% in June.
After three months CPI Data comes below RBI upper margin of 6%The government has asked RBI to keep the inflation level at 4% with a margin of 2% on both sides for five years till March 2026.
U.K Manufacturing production 0.2% vs Expected 0.4%
U.K Gross domestic product (GDP) (Q2) 4.8% vs Expected 4.8%
India inflation at 5.59% vs Expected 5.78%, Positive for market.
U.S Initial jobless claims at 375k vs Expected 375k.
U.S Producer price index (PPI) at 1% vs expected 0.6%.
Tata Steel Results ( Q1):
Consolidate net profit of Rs.9,768 crore.
Profit after tax rose 36% from Rs.7,161 crore in the March quarter
Revenue from operations doubled to Rs.53,371 crore from Rs.25,474.
BPCL Results (Q1):
Consolidate net profit of Rs.2,873 crore.
Eicher Motors Results (Q1):
Net profit fell 55% to Rs.237 Crore.
Hero Motocorp Results (Q1):
Net profit fell 58% to 365.4 Crore.
Results :
Today Results: Oil & Natural Gas Corporation Limited(ONGC), Grasim Industries Limited.
Open interest:
On open interest, Maximum put open interest was seen at 16300 followed by 16200. Maximum call open interest was seen at 16500 followed by 16400
Put Writing seen at 16300 followed by 16200
Call Writing seen at 16500 followed by 16400
India VIX was down by 2.67% from 12.71 to 12.30 on a day. Lower volatility indicates that bulls are Holding the Market.
Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 66.41 % long in index future was increased compared to the previous day.
In Cash Market, FII's are net sellers 212.11 crores, and DII's are net buyers 307.75 crores.
Options data suggests a trading range between 16200 to 16500.
Global Markets:
U.S Markets were positive at the end of the Day.
Dow Jones industrial average up by 14.88 points or 0.042% at 35499.85
S&P 500 Index up by 13.13 points or 0.30% at 4,460.83
Nasdaq Composite up by 51.13 points or 0.35% at 14816.26
European markets were ended Mixed at end of the day.
Most of the Asian Markets are trading Negative right now IST 07.30
SGX Nifty trading 18 points Lower at 16361 IST 07.30
SGX Nifty indicates a Flat to opening for Indian markets.
Keep an eye on these Economic Data:
Eurozone trade balance data at 14.30 IST.
India FX Reserves (USD) data after Indian market hours.
Kundan Kishore
Curator of " A Complete Course on Indian Stock Market"