8th 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 488.10 points to 59677.83 and Nifty was up by 144.35 points to 17790.35

Tata Motors, Titan, Maruti were the top gainers.

IT earnings are starting from today and the market seems to be quite optimistic

Today's outcome of the central bank's policy meeting and the start of corporate earnings season will now be on investors' radar.

Analysts expect that the MPC and RBI will hold key policy rates tomorrow and there is a small chance that the reverse repo rate might be raised by 10-15 bps from the current 3.35%

Auto sales growth stagnates in September.

Paytm in talks with ADIA, BlackRock, GIC, and Nomura for IPO stakes. 

Paytm may get a valuation of $20-22 billion

Mukesh Ambani tops 2021 Forbes list of India's richest

Tata group firm Titan share jumped 9.54% after the company said it has witnessed a strong recovery in demand in the July-September quarter

World food prices climb for the second month in September

US Senate approves temporary lift to debt ceiling

U.S. Initial Jobless Claims Data at 326k vs Expected 348k

Results:

Today Results: Tata Consultancy Services (TCS)

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 18500

Call Writing seen at 17800 followed by 17900

India VIX fell 6.78 percent from 17.33 to 16.15 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 58.84 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 1764.25 crores, and DII's are net buyers 2528.64 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 337.95 points or 0.98% to 34754.94 

S&P 500 Index was up by 36.21 points or 0.83% to 4399.76 

Nasdaq Composite was up by 152.10 points or 1.05% to 14654.02 

European markets were positive at the end of the day

Asian markets are trading positive right now 07.30 IST

SGX Nifty trading 44.50 points higher to 17860 07.30 IST

SGX Nifty indicates a positive opening for Indian markets.

Keep an eye on these Economic Data:

India Interest Rate Decision Data at 10.00 IST

U.S. Unemployment Rate Data after Indian Market hours

U.S. Nonfarm Payrolls Data after Indian Market hours