28th September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed Flat at the end of the day. BSE Sensex was up by 29.40 points to 60077.88 and Nifty was up by 1.90 points to 17855.10

Maruti, Tata Motors, ONGC were the top gainers.

While analysts are flagging that much of the market has become pricey, ICICI Securities says consensus fundamental price targets are still indicating upside potential

The state-owned power giant NTPC has bagged 1.9 GW solar projects in the CPSU Scheme-II tender. With this, NTPC now has over 6.3 GW capacity won through competitive biddings.

Off-highway tyres major Balkrishna Industries said it will raise up to Rs 1,000 crore through long-term borrowings

India accelerates talks with Taiwan on $7.5-billion chip plant

Vodafone Idea continues to trade in red. The government has given an option to telcos to pay back interest on dues through equity and also conveyed that it has no interest in acquiring any telecom company

European shares rise on German election relief, oil surge

U.S. Core Durable Goods Orders MoM data at 0.2% vs Expected 0.5%

Open Interest:

On open interest, Maximum put open interest was seen at 17800 followed by 17700. Maximum call open interest was seen at 18000 followed by 17900

Put Writing seen at 17000 followed by 17800

Call Writing seen at 18000 followed by 17900

India VIX was up by 6.68 % from 16.92 to 18.05 on a day.

VIX has to cool down below 15-14 zone to continue the smooth ride of the market.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 60.84 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 594.63 crores, and DII's are net buyers 1397.69 crores.

Options data suggests a trading range between 17600 to 18000.

Global Markets:

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

Dow Jones industrial average was up by 71.37 points or 0.21% to 34869.37 

S&P 500 Index was down by 12.37 points or 0.28% to 4443.11 

Nasdaq Composite was down by 77.73 points or 0.52% to 14969.97 

European markets were positive at the end of the day

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

SGX Nifty trading 16 points higher to 17871.50  07.30 IST

SGX Nifty indicates a Flat to positive opening for Indian markets.

Keep an eye on these Economic Data:

U.S. CB Consumer Confidence data after Indian market hours

ECB President Lagarde Speaks after Indian market hours

Federal Reserve Chair Jerome Powell (Feb. 2018 – Feb. 2022) is to testify on the economic outlook and recent monetary policy actions after Indian market hours