28th 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 206.93 points to 61143.33 and Nifty was down by 57.45 points to 18210.95

Asian paints, UPL, Divis lab were the top gainers.

Nifty will become range bound and will trade in a sideways zone. It is a wait and watch situation and traders should avoid directional calls.

Volatility would continue over next few sessions

Participants should continue with the stock-specific trading approach and maintain positive bias till Nifty holds 18,000 levels

Stagflation worries and flare-up in US-China tensions forced global investors to trade cautiously ahead of the announcement of another batch of Q2 corporate earnings.

SBI surpasses Bajaj Finance in m-cap ranking as stock hits new high

ITC Q2 results: Net profit rises 14% to Rs.3,697 crore

Titan Q2 results: Net profit zooms over 200% to Rs.641cr, revenue grows 78%

Maruti Suzuki Q2 results: Profit falls 65% YoY to Rs.475 cr, misses estimates

L&T Q2 results: Profit falls 67% to Rs.,819 crore

U.S. Core Durable Goods Orders MoM Data at 0.4% vs Expected 0.4%

Today Results:

Bajaj Finserv ,NTPC

Open Interest:

On open interest, Maximum put open interest was seen at 18000 followed by 18200. Maximum call open interest was seen at 18500 followed by 18300

Put Writing seen at 17950 followed 18050

Call Writing seen at 18300 followed by 18400

India VIX up by 0.45% from 16.75 to 16.83 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 call selling in the index is more than put selling. FII's were 49.75 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 1913.36 crores, and DII's are net buyers 472.48 crores.

Options data suggests a trading range between 17900 to 18400.

Global Markets:

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

Dow Jones industrial average was down by 266.19 points or 0.74% to 35490.69 

S&P 500 Index was down by 23.11 points or 0.51% to 4551.68

Nasdaq Composite was up by 0.12 points or 0.00081% to 15235.84

European markets were negative at the end of the day

Asian markets are mixed right now 07.30 IST

SGX Nifty trading 16 points higher to 18228 07.30 IST

SGX Nifty indicates a flat opening for Indian markets.

Keep an eye on these Economic Data:

U.S. Gross Domestic Product (GDP) QoQ Data after Indian Market hours

U.S. Initial Jobless Claims Data after Indian Market hours

U.S. Pending Home Sales MoM Data after Indian Market hours