20th September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were negative at the end of the day ( 17/09/2021). BSE Sensex was down by 125.27 points to 59015.89 and Nifty was down by 44.35 points to 17585.15

Kotak Bank, HDFC Bank, Bharti Airtel were the top gainers.

Positive economic data and government reforms in telecom, banking, and automobile sectors helped in boosting market sentiments.

Technically, Nifty is making Higher Highs Higher Lows on all major time frames and not showing any major sign of weakness as of now

PSU Banks were heavily wounded by profit booking although the government approved a guarantee of Rs.30,600 crores to the National Asset Reconstruction Company Ltd with an aim to clean stressed assets from the banking sector

Global markets traded cautiously bracing for the Fed Reserve and Bank of England policy meetings this week.

Investors across the world will be eyeing the FOMC meeting in the coming week for more clarity on the outlook for both tapering as well as interest rate timelines

Fed's planned reduction of bond purchases has garnered much of the focus this year, their view on interest rates may give new information that may move markets world over.

U.K Retail sales -0.9% vs expected 0.5%

Eurozone Consumer Price Index (CPI) YoY data at 3% vs expected 3%

India's forex reserves down by $1.34 billion to $641.113 billion

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 17700 followed by 17600

Call Writing seen at 18100 followed by 17700

India VIX was up by 5.71 % from 14.41 to 15.23 on a day.

Spike in India VIX may give a volatile swing to the market

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 67.79 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net buyers 1552.59 crores, and DII's are net sellers 1398.55 crores.

Options data suggests a trading range between 17400 to 17800.

Global Markets:

U.S Markets were closed Negative at the end of the Day (17/09/2021)

Dow Jones industrial average was down by 166.44 points or 0.48% at 34584.88 

S&P 500 Index was down by 40.76 points or 0.91% at 4432.99 

Nasdaq Composite was down by 137.96 points or 0.91% at 15043.97 

European markets were Negative at the end of the day

Key Asian markets shut on account of public holiday

SGX Nifty indicates a negative opening for Indian markets.