8th 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 1491.06 points (2.74%) to 52842.75 and Nifty was down by 382.20 points (2.35%) to 15863.15

ONGC, Coal India, Bharti Airtel were the top gainers.

Nifty support is at 15700 and resistance is at 16100. 

Foreign institutional investors (FIIs) have already sold about Rs.18,000 crore since the start of March 2022.

Indian Rupee against dollar hits lifetime low at Rs.76.94

Higher crude oil prices could increase India's expenditure and adversely affects the fiscal deficit.

Open Interest:

On open interest, the Maximum put open interest is at 16000 followed by 15500. Maximum call open interest is at 18000 followed by 17000.

Put Writing is at 15300

Call Writing is at 16300 followed by 16500

India VIX up by 4.91% from 27.98 to 29.33 level.

India Vix has to fall below 20 for stability for the market

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 39% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 7482.08 crores, and DII's are net buyers 5331.03 crores.

Options data suggests a trading range between 15500 to 16500

Global Markets:

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

Dow Jones industrial average was down by 797.42 points (2.37%) to 32817.38 

S&P 500 Index was down by 127.78 points (2.95%) to 4201.09 

Nasdaq Composite was down by 482.48 points (3.62%) to 12830.96

European markets were negative at the end of the day

Most of the Asian markets are negative right now 07.30 IST

SGX Nifty trading 86 points lower to 15756  07.30 IST

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

Keep an eye on these Economic Data:

Eurozone Gross Domestic Product (GDP) YoY Data at 15.30 IST