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Daily Market Report:
The Indian Equity benchmark indices BSE Sensex and Nifty 50 closed record high at the end of the day( 27/08/2021 ). BSE Sensex was up by 175.62 points to 56124.72 and Nifty was up by 68.30 points to 16,705.20
UltraTech, Hindalco, Sbilife were the top gainers
The index gained 5.44 percent during the August series and will continue to moves higher in coming sessions.
This week market reacts based on GDP, Manufacturing PMI, and auto sales data
According to SBI research report ,India's gross domestic product (GDP) is expected to grow at around 18.5 percent in the first quarter current year
Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium calmed fears over the tapering timetable and sent investors into positive. U.S Markets close at a record high after Powell's speech.
Fed is likely to start tapering soon and interest will not be increased but he cautioned that a move to begin winding down the bond-buying program should not be interpreted as a sign that rate hikes would soon follow too.
Open interest:
On open interest, Maximum put open interest was seen at 16000 followed by 16500. Maximum call open interest was seen at 16500 followed by 17000.
Put Writing seen at 16700 followed by 16500
Call Writing seen at 16700 followed by 17000.
India VIX down by 0.98 % from 13.54 to 13.40 on a day. Overall volatility indicates that bulls are holding the market.
Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 65.93 % long in index future was increased compared to the previous day.
In Cash Market, FII's are net sellers 778.75 crores, and DII's are net buyers 1646.19 crores.
Options data suggests a trading range between 16500 to 17000.
Global Markets:
U.S Markets were closed Positive at the end of the Day( 27/08/2021).
Dow Jones industrial average was up by 242.68 points or 0.69% at 35,455.80
S&P 500 Index was up by 39.37 points or 0.88% at 4,509.37
Nasdaq Composite was up by 183.69 points or 1.23% at 15129.50
European markets were positive at the end of the day
Most of the Asian markets are trading positive right now 07.30 IST
SGX Nifty trading 71 points higher at 16796 07.30 IST
SGX Nifty indicates a positive opening for Indian markets.
Keep an eye on these Economic Data:
U.S. Pending Home Sales data after Indian market hours
Kundan Kishore
Curator of " A Complete Course on Stock Market "