7th September Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 closed at Record-high. BSE Sensex was up by 166.96 points to 58296.91 and Nifty was up by 54.20 points to 17377.80

Wipro, HCL-Tech, Infosys were the top gainers.

Maruti Suzuki hikes vehicle prices by up to 1.9%ICICI Lombard General Insurance has got final approval for demerger of the general insurance business of Bharti AXA General Insurance to itself by way of a scheme of arrangement

Mahindra and Mahindra Financial Services added as much as 5.5 percent after the company said on Friday it saw a reduction in non-performing asset contracts during the last month as customer cash flows improved.

CPI inflation is seen steady at 5.60% in August.

Weaker than expected U.S. August jobs report spurred bets that the Federal Reserve would push back its tapering timeline. 

U.K. Construction Purchasing Managers Index (PMI) at 55.2 vs Expected 56.9

Open interest:

On open interest, Maximum put open interest was seen at 17000 followed by 16500. Maximum call open interest was seen at 17500 followed by 17300

Put Writing seen at 17000 followed by 17400.

Call Writing seen at 17400 followed by 18000.

India VIX was up by 3.87 % from 14.54 to 15.10 on a day. 

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 65.65 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 589.36 crores, and DII's are net buyers 547.31 crores.

Options data suggests a trading range between 17300 to 17500.

Global Markets:

U.S stock markets were closed on labor day ( September 6)

European markets were Positive at the end of the day

Asian markets are trading Mixed right now 07.30 IST

SGX Nifty trading 8 points Lower at 17411  07.30 IST

SGX Nifty indicates a Flat to Positive opening for Indian markets.

Keep an eye on these Economic Data:

Eurozone Gross Domestic Product (GDP) at 14.30 IST