13th September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed Flat with positive at the end of the day ( 09/11/2021). BSE Sensex was up by 54.81 points to 58305.07 and Nifty was up by 15.75 points to 17369.25

ONGC, Bharti Airtel, Nestle India were the top gainers

Indian markets after touching all-time highs now seem to be correcting as it is the fourth consecutive day when the markets opened flat and ended flat

Nifty was Trading between 17250 - 17450 for the past four days, a break out of either side would trigger the next move

Investors and traders will react to the inflation data in early trade, which will be released after market hours today.

Regulatory crackdown in China, global concerns over the looming reduction in asset purchases of the European Central Bank, and a slowdown in economic recovery pulled global markets lower.

The European Central Bank kept its monetary policy unchanged on Thursday but opted to slow down the pace of net asset purchases under its pandemic emergency purchase program.

Initial jobless claims in the U.S. last week dropped to 310,000 vs Expected 335000, the Labor Department reported Thursday

U.S. Producer Price Index (PPI) Data at 0.7% vs Expected 0.6%

India's forex reserves grow $8.895 bn to a new record high of $642.453 bn

Open interest:

On open interest, Maximum put open interest was seen at 17000 followed by 16500. Maximum call open interest was seen at 17500 followed by 17400

Put Writing seen at 17300 followed by 17200.

Call Writing seen at 18000 followed by 17700.

India VIX was down by 3.24% from 14.41 to 13.94 on a day. India VIX needs to hold below 13 level to continue the bullish momentum.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 63.33 % long in index future was Decreased compared to the previous day.

In Cash Market, FII's are net buyers 423.44 crores, and DII's are net buyers 704.21 crores.

Options data suggests a trading range between 17200 to 17500.

Global Markets:

U.S Markets were closed Negative at the end of the Day

Dow Jones industrial average was down by 271.66 points or 0.78% at 34607.72

S&P 500 Index was down by 34.70 points or 0.77% at 4458.58 

Nasdaq Composite was down by 132.76 points or 0.87% at 15115.49 

European markets were ended Negative at the end of the day

Asian markets are trading Negative right now 07.30 IST

SGX Nifty trading 77 points Lower at 17363.50  07.30 IST

SGX Nifty indicates a Flat to Negative opening for Indian markets.

Keep an eye on these Economic Data:

India Consumer Price Index (CPI) YoY (Aug) Data After Indian Market hours.