7th 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 555.15 points to 59189.73 and Nifty was down by 176.30 points to 17646.00

TataConsumer, ONGC, UPL were the top gainers

The International Monetary Fund (IMF) said that growth in 2021 would likely fall short of its July forecast of 6 percent.

RBI commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged, however, it is likely to announce measures to gradually pump out liquidity from the economy.

Moody's upgrades India's ratings outlook after nearly 2 years to Stable from Negative

ICICI Bank overtakes SBI Cards in credit card spends in Aug

The Department for Promotion of Industry and Internal Trade (DPIIT), on Wednesday, issued a press note for 100% Foreign Direct Investment (FDI) in the telecommunication sector

Axis Bank said it had become the first Indian private bank to secure a term Secured Overnight Financing Rate deal linked to trade finance.

U.K. Construction Purchasing Managers Index (PMI) Data at 52.6 vs Expected 55.2

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 17800

Put Writing seen at 17800 followed by 17700

Call Writing seen at 17800 followed by 17700

India VIX up by 5.70 percent from 16.40 to 17.56 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 call selling in the index is more than put selling. FII's were 53.12 % long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 802.81 crores, and DII's are net sellers 998.69 crores.

Options data suggests a trading range between 17500 to 17900.

Global Markets:

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

Dow Jones industrial average was up by 102.32 points or 0.30% to 34416.99 

S&P 500 Index was up by 17.83 points or 0.41% to 4363.55 

Nasdaq Composite was up by 68.08 points or 0.47% to 14501.91 

European markets were negative at the end of the day

Most of the Asian markets are trading positive right now 07.30 IST

SGX Nifty trading 130.50 points higher to 17759 07.30 IST

SGX Nifty indicates a positive opening for Indian markets.

Keep an eye on these Economic Data:

ECB Publishes Account of Monetary Policy Meeting Data after Indian Market hours

U.S Initial Jobless Claims Data after Indian Market Hours

FOMC Member Williams Speaks after Indian Market Hours