27th September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed record high at the end of the day. BSE Sensex was up by 163.11 points to 60048.47 and Nifty was up by 30.25 points to 17853.20

Asian Paints, M&M, HCL Tech were the top gainers

During the week, the Sensex rallied 1,032.58 points or 1.74 percent, while the Nifty surged 268.05 points or 1.52 percent.

The market rally has usually been backed by domestic institutional investors (DIIs) buying in the equities, but now rising interest from foreign institutional investors (FIIs) is pulling the market upward

We are in a classical bull market like the 2003-2007 phase where this bull run is likely to continue for the next 2-3 years

In the coming month, the news flow on the corporate earnings would also help the market to rally further

The country's foreign exchange reserves declined by $1.47 billion to $639.642 billion in the week ended September 17, RBI data showed on Friday

U.S New home sales data at 740 k vs Expected 714 k

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 17500. Maximum call open interest was seen at 18500 followed by 18000

Put Writing seen at 17900 followed by 16800

Call Writing seen at 18500 followed by 18000

India VIX was up by 1.92 % from 16.49 to 16.92 on a day.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 59.91 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net buyers 442.49 crores, and DII's are net sellers 515.85 crores.

Options data suggests a trading range between 17500 to 18000.

Global Markets:

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

Dow Jones industrial average was up by 33.18 points or 0.095% to 34798 

S&P 500 Index was up by 6.50 points or 0.15% to 4455.48 

Nasdaq Composite was down by 4.54 points or 0.030% to 15047.70 

European markets were Negative at the end of the day

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

SGX Nifty trading 91 points higher at 17949  07.30 IST

SGX Nifty indicates a Positive opening for Indian markets.

Keep an eye on these Economic Data:

European Central Bank (ECB) President Lagarde Speaks after Indian Market hours.

U.S. Core Durable Goods Orders MoM data after Indian Market hours