3rd March 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 778.38 points (1.38%) to 55468.90 and Nifty was down by 187.95 points (1.12%) to 16605.95

Coal India, HDFC life, SBI life were the top gainers

Nifty support seen at 16200 and 16400 and resistance seen at 16700 and 16900

Market Volatility is expected to remain high

Bajaj Auto sales decline 16% in February

Maruti Suzuki production increased slightly in February

Union Bank raises Rs.1,500 cr by issuing bonds

LIC IPO may be pushed to Financial Year 2023 because of market volatility

Brent oil rises to 8.6% to $113.94/bbl

Saudi oil giant Aramco shares rose to a record high on Wednesday amid a surge in global oil prices following Russia's invasion of Ukraine

India Nikkei Markit Manufacturing Purchasing Managers Index (PMI) at 54.9 vs 54.3

U.S Fed Reserve Chair Jerome Powell told, they will raise interest rates this month as inflation is high

Eurozone Consumer Price Index (CPI) YoY at 5.8% vs 5.3%

Open Interest:

On open interest, Maximum put open interest was seen at 16500 followed by 16000. Maximum call open interest was seen at 17000 followed by 18000

Put Writing seen at 16600 followed by 16000

Call Writing seen at 16800 followed by 16600

India VIX up by 2.32% from 28.57 to 29.23 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 46.76% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 4338.94 crores, and DII's are net buyers 3061.70 crores.

Options data suggests a trading range between 16000 to 17000

Global Markets:

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

Dow Jones industrial average was up by 596.40 points (1.79%) to 33891.35

S&P 500 Index was up by 80.28 points (1.86%) to 4386.54

Nasdaq Composite was up by 219.56 points (1.62%) to 13752.02

European markets were positive at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 35 points higher to 16652  07.30 IST

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

Keep an eye on these Economic Data:

Eurozone Services Purchasing Managers Index (PMI) Data at 14.30 IST

U.K. Services Purchasing Managers Index (PMI) Data at 15.00 IST

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