22nd September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were positive at the end of the day. BSE Sensex was up by 514.37 points to 59005.27 and Nifty was up by 165.10 points to 17562.

JSWSteel, ONGC, Bajaj Finance were the top gainers.

Global stocks recovered from the fears sparked by troubles in the Chinese economy

Tata Motors to hike commercial vehicle prices by around 2% from October 

Reliance, Tata, Adani may bid for solar projects under the PLI scheme

Indiabulls Housing Finance raises Rs 808 crore via NCDs

U.S. Building Permits data at 1.728M vs Expected 1.600M

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 17500. Maximum call open interest was seen at 17500 followed by 18000

Put Writing seen at 17400 followed by 17500

Minor Call Writing seen at 17550

India VIX was down by 5.56 % from 17.49 to 16.52 on a day.

VIX has to cool down below the 14 mark to continue the bullish

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 60.67 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net buyers 1041.92 crores, and DII's are net buyers 2167.62 crores.

Options data suggests a trading range between 17400 to 17800.

Global Markets:

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

Dow Jones industrial average was down by 50.63 points or 0.15% at 33919.84 

S&P 500 Index was down by 3.54 points or 0.081% at 4354.19 

Nasdaq Composite was up by 32.49 points or 0.22% at 14746.40 

European markets were positive at the end of the day

Asian markets are trading mixed right now 07.30 IST

SGX Nifty trading 15 points lower at 17546   07.30 IST

SGX Nifty indicates a Flat opening for Indian markets.

Keep an eye on these Economic Data:

Existing home sales data after Indian Market hours

Fed Interest rate decision and FOMC Statement after Indian market hours