Daily Market Report:
The Equity Benchmark indices S&P BSE Sensex closed above 53000 for the first time and ended in 53054 and Nifty closed at an all-time high in 15879.
Tata steel was the best performing stock after the company announced to Increase the annual capacity in India. It ended up 4.4% higher.
Fitch Ratings cut India's growth forecast from 12.8% to 10% but it said lowering covid cases and rapid vaccination will support revival for business.
In short term market directions based on Q1FY22 earnings. TCS Earnings today 8th July, this will impact on Friday market.
For nifty 15915 is an important level because the market touched 15910- 15915 two to three times and if it goes 15915 next time there is a chance to break and go for a lifetime high.
India Vix fell 0.51% from 12.28 to 12.21, Still fear gauge is low indicates the rangebound market, but every decline in VIX may get bought.
Open Interest:
Maximum put Open interest is placed at 15500 followed by 15000
Maximum call Open interest is placed at 16000 followed by 16500
Put writing seen at 15800 followed by 15700
call writing seen at 16000
Today weekly option expiry:
In weekly option huge put writing seen at 15800 and call writing seen at 16100
Participant wise open interest data of FII shows put selling in the index is more than call selling. FII's are 72% long in index future. In the cash market, FII's are net buyers 532.94 crores and DII's are net sellers -231.80 crores.
Options data suggests a trading range between 15700 - 16000
Global Markets:
The Dow Jones rose to 0.3% to 34681.79, Nasdaq composite advanced less than 1% to 14665.06
U.S Job openings Actual 9.209M vs expected 9.388M slightly lower
Federal open market committee ( FOMC) Expects to maintain a stance of monetary policy until inflation stands moderately above 2% for some time while achieving maximum employment
10 Years U.S Treasury yields drop below 1.3% for the first time since February
European markets ended in green
Most of the Asian markets trading in the red.
Sgx nifty trading at 15845 at 43 points lower at 7.30 IST
SGX Nifty indicates a flat to Negative start for the Indian indices.
Economic Data:
European central bank ( ECB) Monetary policy statement
U.S Initial jobless claims Data
