Indian Market Outlook: Nifty Futures opened at 8189 yesterday and made a low of 8172, just 8 points short of its previous day low of 8164. A sharp buying was seen in the Index by 71 points making a high of 8243 to finally close at 8223. Inspite of this sharp buying, FIIs ended the day as heavy sellers by selling net shares worth Rs. 2181 Cr which however includes a selling worth Rs. 2430 Cr by FIIs in Tata Motors Ltd in a bulk deal. For the month of December, FIIs are net sellers to the tune of Rs. 1931 Cr. Emerging markets are trading flat today near their 2 day highs as reflected in the Morgan Stanley Emerging Markets Index. 8250 is a crucial level for Nifty Futures, if Nifty trades above this level we might see 8300 as immediate target. The rally was, however, brought in because of the bullish International markets with S&P making a new all time high of 2278 yesterday. On the local front, Nifty indeed held strong but the cash market, as indicated by the small cap Index, continued to underperform the Nifty Index also confirmed by the FII selling. US FED will announce its rate decision on 15th Dec at 00:30 hrs IST. 3 month US treasury yield trades at 0.53 indicating that the markets have already factored in a 25 bps rate cut.
Nifty Future is opening at 8215 as per SGX Nifty at 8:15 am IST, 8 points below its previous close of 8223.
FII Activity for the year 2016:
TThe net FII's figure in cash market has turned marginally negative amounting to Rs. 1931.63 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.2181 Cr and DII bought shares worth Rs. 178.90 Cr. A combined sell of Rs. 2002 Cr. For this expiry, FII and DII together are net sell worth Rs. 1420 Cr.
In Index Options, last trading day, FII have sold 3875 contracts, below its 1 year average of 18280 contracts. Pro have bought 17533 contracts, below its 1 year average of 27670 contracts. Combined there has been a net buy of 13658 contracts, below its 1 year average of 39000 contracts. For the current expiry, FII and Pro combined are net buyers of 124728 contracts.
In Index Futures, last trading day, FII have bought 3768 contracts, below its 1 year average of 9706 contracts. Pro have sold 2244 contracts, below its 1 year average of 4903 contracts. Combined there has been a net buy of 1524 contracts below its 1 year average of 9401 contracts. For the current expiry, FII and Pro combined are net buyers of 33485 contracts.
International Market Morning Update:
Today morning, Asian markets are trading in the positive zone with MSCI emerging markets index trading at its two day high. The US markets are the forerunners in bringing about this upside rally.
S&P 500 in America and Dax in Germany are holding strong with S&P making a new all time high of 2278 and Dax making a new high of 11308 for the year 2016.
The most keenly watched event for the year is awaited tonight at 00:30 AM IST where the US FED is going to hike its interest rate from 0.25 bps to 50 bps.
DISCLAIMER:
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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