29th 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 1158.63 points to 59984.70 and Nifty was down by 353.70 points to 17857.25

IndusInd Bank, L&T, Ultracemco were the top gainers

The overall market breadth was extremely negative as 2,295 shares ended lower while 985 closed higher on the BSE.

Foreign portfolio investors have so far sold shares worth Rs.9,295.78 crores in Indian markets, data from National Securities Depository Limited (NSDL) showed.

Relentless selling by FIIs is a key reason for this correction in the market.

Domestic markets witnessed broad-based selling dragged by banking, metal, and realty stocks.

Chip Shortage to Last Until 2023; Maruti and Other Autos to be Impacted

Morgan Stanley downgraded India to equal-weight due to outperformance by Indian markets in recent month Inflation and slowdown in global growth momentum are other concerns amid expensive valuations.

India's gold demand bouncing back to pre-COVID levels

Bajaj Finserv posts 14% rise in net profit at Rs.1,122 crore in Q2

NTPC Net profit falls 8% YoY, Rs.3,211.9 crore for the quarter ended September, which was lower than analysts’ expectations.

U.S. Gross Domestic Product (GDP) QoQ Data at 2.0 % vs Expected 2.7%

U.S. Initial Jobless Claims Data at 281 k vs Expected 290 k

Today Results:

BPCL, Shree Cements

Open Interest:

On open interest, Maximum put open interest was seen at 17500 followed by 18000. Maximum call open interest was seen at 19000 followed by 18500

Put Writing seen at 17600 followed by 17000

Call Writing seen at 18000 followed by 18200

India VIX up by 6.45% from 16.83 to 17.91 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 53.50% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 3818.51 crores, and DII's are net buyers 836.60 crores.

Options data suggests a trading range between 17800 to 18400.

Global Markets:

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

Dow Jones industrial average was up by 239.79 points or 0.68% to 35730.48 

S&P 500 Index was up by 44.74 points or 0.98% to 4596.42

Nasdaq Composite was up by 212.28 points or 1.39% to 15448.12

European markets were mixed at the end of the day

Asian markets are mixed right now 07.30 IST

SGX Nifty trading 15 points higher to 17895.50 07.30 IST

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

Keep an eye on these Economic Data:

Eurozone Consumer Price Index (CPI) YoY Data at 14.30 IST

Eurozone Gross Domestic Product (GDP) YoY Data at 14.30 IST

India FX Reserves (USD) Data after Indian Market hours

India Reserve Bank of India Monetary and Credit Information Review after Indian Market hours