6th October Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed positive at the end of the day. BSE Sensex was up by 445.56 points to 59744.88 and Nifty was up by 131.05 points to 17822.30

ONGC, IndusInd Bank, Coal India were the top gainers.

High-frequency key economic indicators in September in the form of GST collection, manufacturing PMI, import-export data, and e-way bills continued to reflect improvement in economic activities, which bode well for corporate earnings.

HDFC Bank launches festive offers, partners with over 10,000 merchants

India is facing possible energy supply problems in the coming months due to coal shortages and a post-pandemic surge in demand.

More than half of coal plants on alert for outages

Jindal Steel and Power has reported its highest ever quarterly steel sales during July-September of this fiscal, 

The government has asked state-owned Coal India to diversify its business and explore prospects in areas like electric vehicles and charging pods

September service activity slows, jobs rise after 9 months

India 10-yr bond yields have risen to 6.28%, the highest since April 2020

September Services PMI at 55.2 versus 56.7 in August

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 17500. Maximum call open interest was seen at 18000 followed by 18500

Put Writing seen at 17800 followed by 17500

Call Writing seen at 17800 followed by 18300

India VIX fell 2.02 percent from 16.74 to 16.40 level.

Vix has to cool down below 15-14 levels to ensure a smooth ride for the market.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 54.18 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 1915.08 crores, and DII's are net buyers 1868.23 crores.

Options data suggests a trading range between 17600 to 18000.

Global Markets:

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

Dow Jones industrial average was up by 311.75 points or 0.92% to 34314.67 

S&P 500 Index was up by 45.26 points or 1.05% to 4345.72 

Nasdaq Composite was up by 178.35 points or 1.25% to 14433.83 

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 27 points lower to 17791.50  07.30 IST

SGX Nifty indicates a Negative opening for Indian markets.

Keep an eye on these Economic Data:

U.K. Construction Purchasing Managers Index (PMI) Data at 14.00 IST