17th November Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed negative at the end of the day. BSE Sensex was down by 396.34 points to 60322.37 and Nifty was down by 110.25 points to 17999.20

Maruti, Mahindra& Mahindra, Tata Motors were the top gainers.

Nifty50 seems to be in a consolidation mode

Inflationary pressure and its subsequent impact on India Inc's earnings going forward has worried equity investors

Valuation concerns had already led to some global brokerages turn cautious on Indian equities in the recent weeks.

The RBI warned that equity markets are expensive but maintained its optimism around the recovery in the economy.

RBI’s statement that equity market valuations is stretched added to the pressure.

RBI likely to hike rates next year, full-fledged recovery on right path: Morgan Stanley

RBI Taking A Closer Look At Bank Business Models

Anchor investor talks for LIC IPO to start next week

Paytm to list on stock exchanges on November 18

U.K. Average Earnings Index +Bonus at 5.8% vs Expected 5.6%

U.K. Claimant Count Change at -14.9k vs Expected -51.1k

Eurozone Gross Domestic Product (GDP) QoQ at 2.2% vs Expected 2.2%

U.S. Core Retail Sales MoM 1.7% vs Expected 1.0%

Open Interest:

On open interest, Maximum put open interest was seen at 17500 followed by 17400. Maximum call open interest was seen at 18500 followed by 18000

Put Writing seen at 17400 followed by 17700

Call Writing seen at 18000 followed by 18100

India VIX fell by 1.75% from 15.46 to 15.20 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 54.40% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 560.67 crores, and DII's are net buyers 577.34 crores.

Options data suggests a trading range between 17700 to 18100.

Global Markets:

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

Dow Jones industrial average was up by 54.77 points or 0.15% to 36142.22

S&P 500 Index was up by 18.10 points or 0.39% to 4700.90

Nasdaq Composite was up by 120.01 points or 0.76% to 15973.86

European markets were mixed at the end of the day

Most of the Asian markets are negative right now 07.30 IST

SGX Nifty trading 63.50 points lower to 17941.50     07.30 IST

SGX Nifty indicates a negative opening for Indian markets.

Keep an eye on these Economic Data:

U.K. Consumer Price Index (CPI) YoY Data at 12.30 IST

Eurozone Consumer Price Index (CPI) YoY Data at 15.30 IST

U.S. Building Permits Data after Indian Market hours