1st September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 closed record high at the end of the day. BSE Sensex was up by 662.63 points to 57552.39 and Nifty was up by 201.15 points to 17132.20

Bharti Airtel, Bajaj Finance, Hindalco were the top gainers

Sebi's new peak margin rules to kick off from today, traders need to keep 100% margin upfront for their trades

India’s Gross Domestic Product for the April-June quarter of the ongoing financial year 2021-22 expanded 20.1% YoY

Q1 GDP reaffirms the government’s prediction of an imminent V-shaped recovery.

India’s economic fundamentals are much better now and it is expected that the economy will be in a very good position to withstand taper tantrum.

Centre's fiscal deficit touches 21.3% of annual target at July-end and it is better than the previous year.

Semiconductor shortage hurting production, may impact Aug-Sep automobile wholesales

China's factory activity grew at a slower pace in August as compared with the previous month

Open interest:

On open interest, Maximum put open interest was seen at 16500 followed by 16000. Maximum call open interest was seen at 17000 followed by 17500

Put Writing seen at 17000 followed by 16500

Call Writing seen at 17600 followed by 17500.

India VIX up by 9.03 % from 13.32 to 14.52 on a day. 

Rise in India VIX will help option buyers in the near term

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 66.24 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net buyers 3881.16 crores, and DII's are net sellers 1872.40 crores.

Options data suggests a trading range between 17000 to 17500.

Global Markets:

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

Dow Jones industrial average was down by 39.11 points or 0.11% at 35360.73

S&P 500 Index was down by 6.11 points or 0.13% at 4522.68

Nasdaq Composite was down by 6.65 points or 0.044% at 15259.24 

European markets were Negative at the end of the day

Asian markets are trading Mixed right now 07.30 IST

SGX Nifty trading 7 points lower at 17118  07.30 IST

SGX Nifty indicates a Flat opening for Indian markets.

Keep an eye on these Economic Data:

India Manufacturing Purchasing Managers Index (PMI) at 10.30 IST

U.K. Manufacturing Purchasing Managers Index (PMI) at 14.00 IST