28th February Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed positive at the end of the day(25/02/2022). BSE Sensex was up by 1328.61 points (2.44%) to 55858.52 and Nifty was up by 410.45 points(2.53%) to 16658.40

Market will remain volatile in coming week

Nifty next resistance levels are at 16800 and 17100 and support at 16500

Nifty is still below 200-day Exponential moving average in daily chart

Markets will react based on geopolitical tension in Russia- Ukraine war, India's GDP, infrastructure data, auto sales data in this week

Equity market capitalization dropped to a seven-month low in February

The rise in oil prices will impact on india's inflation. 10 percent increase in crude oil price will increase the Wholesale price index (WPI) by 0.9%according to report by Bank of Baroda.

Indian government approved foreign direct investment (FDI) up to 20 % in LIC IPO

Apollo Hospitals will replace Indian Oil Corporation (IOC) in the Nifty 50 index and Bank of Baroda will replace RBL Bank from the banking index

India’s Forex reserves rise by 2.76 billion to 632.95 billion

Open Interest:

On open interest, Maximum put open interest was seen at 16500 followed by 16000. Maximum call open interest was seen at 17000 followed by 17500

Put Writing seen at 16300 followed by 16500

Call Writing seen at 17500 followed by 17000

India VIX down by 16.39% from 31.98 to 26.74 level.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 61.51% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 4470.70 crores, and DII's are net buyers 4318.24 crores.

Options data suggests a trading range between 16500 to 17500

Global Markets:

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

Dow Jones industrial average was up by 834.92 points (2.51%) to 34058.75

S&P 500 Index was up by 95.95 points (2.24%) to 4384.65

Nasdaq Composite was up by 221.04 points (1.64%) to 13694.62

European markets were positive at the end of the day

Asian markets are mixed right now 07.30 IST

SGX Nifty trading 42.50 points higher to 16702  07.30 IST

SGX Nifty indicates a positive start for Indian markets.

Keep an eye on these Economic Data:

India Infrastructure Output YoY data after Indian market hours

India Gross Domestic Product (GDP) Quarterly YoY data after Indian market hours.