23rd September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were Flat at the end of the day. BSE Sensex was down by 77.94 points to 58927.33 and Nifty was down by 15.35 points to 17546.65

Coal India, Tech Mahindra, Tata Motors were the top gainers.

ITC's market capitalization returned to Rs 3 trillion-mark

Govt may let foreign investors buy up to 20% in LIC IPO

Tata Power plans to raise up to $750 million for green business

Adani Group has announced plans to invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron

Indiabulls Housing Finance trading 6% up. The NBFC has said it will raise $165 million by issuing foreign currency convertible bonds (FCCBs).

Vodafone Idea to approach the board for fundraising after govt issues guidelines on reform measures: CEO

Media stocks were under the spotlight amid the announcement of the ZEE-Sony merger.

Axis Bank commits Rs 30,000 cr till FY26 towards sustainable lending

The Federal Reserve on Wednesday cleared the way to reduce its monthly bond purchases soon but did not say when.

The Fed kept benchmark interest rates unchanged anchored near zero but indicated that rate hikes could be coming sooner than expected
U.S Existing home sales data at 5.88M vs Expected 5.89M

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 17300 followed by 17500

Call Writing seen at 17550 followed by 18100

India VIX was down by 0.17 % from 16.52 to 16.49 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 57.96 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 1943.26 crores, and DII's are net buyers 1850.02 crores.

Options data suggests a trading range between 17500 to 17800.

Global Markets:

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

Dow Jones industrial average was up by 338.48 points or 1% to 34258.32

S&P 500 Index was up by 41.45 points or 0.95% to 4395.64 

Nasdaq Composite was up by 150.45 points or 1.02% to 14896.85 

European markets were positive at the end of the day

Most of the Asian markets are trading positive right now 07.30 IST

SGX Nifty trading 110 points higher at 17662  07.30 IST

SGX Nifty indicates a Positive opening for Indian markets.

Keep an eye on these Economic Data:

Eurozone Manufacturing Purchasing Managers Index(PMI)Data at 13.30 IST

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

U.K. Interest Rate Decision after Indian Market hours

U.S Initial jobless claims Data after Indian market hours