27th August Market Report

27th August Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 closed Flat at the end of the day. BSE Sensex was up by 4 points to 55,949 and Nifty was up by 2 points to 16,636

Britannia, Tata Consumer, BPCL Were the top gainers

FII’s Sold more than Rs.10000 crore in August series , still nifty closed 850 points higher.

RBI appoints Ajay Kumar as Executive Director

A private report stating that the Indian economic growth likely to touch a record high in the quarter through June,

Moodys stating that India’s second Coronavirus (Covid-19) wave is increasing asset risks for banks in retail and the SME loan segment

Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL).

U.S initial jobless claims data at 353 k vs Expected 350 k

U.S. Gross Domestic Product (GDP) Q2 at 6.6 % vs 6.7 % Economy is growing faster than expected

Open interest:

On open interest, Maximum put open interest was seen at 16000 followed by 16500. Maximum call open interest was seen at 16500 followed by 17000.

Put Writing seen at 16700 followed by 16600

Call Writing seen at 16700 followed by 16600.

India VIX up by 0.30 % from 13.50 to 13.54 on a day. 

Overall volatility indicates that India vix needs to go below 12 for new buying interest.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. 

FII’s were 64.98 % long in index future was increased compared to the previous day.

In Cash Market, FII’s are net sellers 1974.48 crores, and DII’s are net buyers 1055.21 crores.

Options data suggests a trading range between 16500 to 16750.

Global Markets:

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

Dow Jones industrial average was down by 192.38 points or 0.54% at 35213.12 

S&P 500 Index was down by 26.19 points or 0.58% at 4470 

Nasdaq Composite was down by 96.05 points or 0.64% at 14945.81 

European markets were negative at the end of the day

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

SGX Nifty trading  7 points lower at 16661  07.30 IST

SGX Nifty indicates a Flat opening for Indian markets.

Keep an eye on these Economic Data:

India FX reserves after Indian market hours

U.S. Fed Chair Powell Speaks after Indian market hours

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