Indian Market Outlook: The Indian Benchmark Index Nifty yesterday fell 60 points from its day high of 8134 and made a low of 8072. Due to the upcoming holiday season there is a dearth of volume in cash and derivative markets. Moreover there was selling pressure in the cash markets yesterday, the Small Cap Index broke its important support level of 5770 and closed at 5716. The Small cap index is a major indicator of the health of the cash market, the Index fell more than 100 points to 5707 yesterday after it made a high of 5818.
Most of the Index were negative except IT which was up by 0.97%, Media up by 0.86% and FMCG was up by 0.41%. Pharma Index fell the most by 1.13%, Bank Nifty was down by 1.03% and the Finance Index fell by 0.94%.
FII has remained net sellers in the cash market, they have sold 4487 crs in the month of December. This is a significant figure compared to the current low volume in the present scenario. Thus we might see further selling in Nifty.
Nifty Future is opening at 8116 as per SGX Nifty at 8:50 am IST, 16 points up from its previous close of 8100.
FII Activity for the year 2016
The net FII's figure in cash market has turned negative amounting to Rs.-4487.59 Cr, after heavy Nov Selling figure, which was Rs. 19981.5 Cr
Open Interest Index F&O and Cash Segment Activity
In Cash segment, last trading day, FII have sold shares worth Rs.686 Cr and DII bought shares worth Rs.418.90 Cr. A combined sell of Rs. 267 Cr. For this expiry, FII and DII together are net sell worth Rs. 2937 Cr.
In Index Options, last trading day, FII have sold 1451 contracts, below its post Demonetization average of 8577 contracts. Pro have sold 35304 contracts, above its post Demonetization average of 26619 contracts. Combined there has been a net sell of 36755 contracts, below its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net sellers of 27368 contracts.
In Index Futures, last trading day, FII have bought 2802 contracts, below its post Demonetization average of 3577 contracts. Pro have sold 614 contracts, below its post Demonetization average of 4177 contracts. Combined there has been a net buy of 2188 contracts below its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 24899 contracts.
International Market Morning Update:
Today morning, Asian Emerging market Index(MSCI Index) took support of its important level of 848 and is currently trading at 852.76.
The American Index, S&P 500 is trading in a narrow range, the Index opened yesterday at 2260 and made a high of 2269 and closed at 2267.
The German Dax after displaying extraordinary strength. Traded flat yesterday. As the New Year and Christmas Holiday season has already started, these markets are expected to stay range bound this week.
Data as on 20th December 2016. The % change is taken from previous day's close.
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Research Team - Tel: 033-30010001, write to us at clientsupport@dynamiclevels.com to give feedback. Website:www.dynamiclevels.com
1. The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision
2. Past performance is not an indicator of future returns.
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