31st August Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 closed record high at the end of the day. BSE Sensex was up by 765.04 points to 56889.76 and Nifty was up by 225.85 points to 16,931.05

Bharti Airtel, Divislab, Axis Bank were the top gainers.

Market sentiment is extremely bullish and will hit record highs in coming sessions as well.

The centre is scheduled to release gross domestic product (GDP) on August 31 (Today). 

Anmi expresses concern over the T+1 settlement proposal. Global institutional investors will face multiple issues with the structure

L&T Construction bags 'significant' contracts for its various businesses which ranges between Rs 1,000 crore and Rs 2,500 crore

Ola has selected banks including Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage its IPO that could raise about $1 billion in October

Tesla is in talks with Sona Comstar, Sandhar Technologies, and Bharat Forge to source critical electronic, electrical, and mechanical components.

Open interest:

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

Put Writing seen at 16800 followed by 16200

Call Writing seen at 17400 followed by 17300.

India VIX down by 0.65 % from 13.40 to 13.32 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 67.31 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net buyers 1202.81 crores, and DII's are net buyers 688.85 crores.

Options data suggests a trading range between 16700 to 17200.

Global Markets:

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

Dow Jones industrial average was down by 55.96 points or 0.16% at 35399.84 

S&P 500 Index was up by 19.42 points or 0.43% at 4528.79 

Nasdaq Composite was up by 136.39 points or 0.90% at 15265.89 

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 30 points Lower at 16934  07.30 IST

SGX Nifty indicates a Flat opening for Indian markets.

Keep an eye on these Economic Data:

Eurozone Consumer Price Index (CPI) at 14.30 IST

India Gross Domestic Product (GDP) YoY (Q1) after Indian market hours