22nd October 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 336.46 points to 60923.50 and Nifty was down by 88.50 points to 18178.10

Kotak Bank, Tata Motors, HDFC Were the top gainers.

Sustained selling by institutions both DIIs and FIIs indicates that smart money regards the market as overheated

Reliance Industries Ltd said on Thursday that a required majority of its shareholders have passed the resolution to appoint Saudi Aramco Chairman Yasir Al-Rumayyan as an independent director to the conglomerate's board.

Sebi has warned investment advisers from helping clients invest in digital gold instruments since these are not regulated by it.

The government should keep monitoring the key elements of the economy to see whether any pain points are emerging. First is to ensure inflation doesn't become widespread and second is to keep a finger on the pulse of consumption and the underlying demand - Sanjiv Mehta, Chairman, HUL

PSU banks likely to get capital support in Q4 to meet regulatory requirements

India considering strategic reserves for gas, imported coal

State-owned construction player NBCC has bagged orders worth Rs.375 crore in Haryana, Delhi, and Rajasthan as a project management consultant.

Asian Paints Q2 consolidated PAT slumps 28% YoY, misses estimate; to pay Rs.3.65 dividend

JSW Steel today reported a 350 percent year-on-year rise in consolidated net profit to Rs.7,170 crore for the quarter ended September, which was sharply above analysts’ expectations.

India M3 Money Supply at 9.9% vs Expected 9.3%

U.S. Initial Jobless Claims Data at 290k vs Expected 300k

Today Results:

Reliance Industries

Open Interest:

On open interest, Maximum put open interest was seen at 18200 followed by 17500. Maximum call open interest was seen at 18500 followed by 18200

Put Writing seen at 18200 followed 18100

Call Writing seen at 18200 followed by 18400

India VIX fell by 1.52% from 18.31 to 18.04 level.

Vix has to cool down below 15-14 levels to ensure a smooth ride for the market.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 63.36 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 2818.90 crores, and DII's are net buyers 428.45 crores.

Options data suggests a trading range between 18000 to 18500.

Global Markets:

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

Dow Jones industrial average was down by 6.26 points or 0.018% to 35603.08 

S&P 500 Index was up by 13.59 points or 0.30% to 4549.78

Nasdaq Composite was up by 94.02 points or 0.62% to 15215.70

European markets were negative at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 34.50 points higher to 18281 07.30 IST

SGX Nifty indicates a positive opening for Indian markets.

Keep an eye on these Economic Data:

U.K. Retail Sales MoM Data at 11.30 IST

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

Reserve Bank of India Monetary Policy Committee Meeting Minutes after Indian market hours

India FX Reserves (USD) Data after Indian market hours