Indian Market Outlook: The Indian Benchmark Index Nifty yesterday fell 50 points from its day high of 8124 and made a low of 8073. Volumes have shrinked already as the New Year holidays near in. Moreover, there was a continued selling pressure in the cash markets yesterday. The Small cap index is a major indicator of the health of the cash market, the Index has broken its major support of 5770 nad closed below it for the second day yesterday.
Most of the sectoral Indices ended negative with only Jewelry sector being the gainer with a rise of more than 2% yesterday.
FII has remained net sellers in the cash market, they have sold 5665 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 8050 as per SGX Nifty at 8:45 am IST, 27 points below its previous close of 8077.
FII Activity for the year 2016
The net FII's figure in cash market has turned negative amounting to Rs.-5665.67 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.1178 Cr and DII bought shares worth Rs.1058 Cr. A combined sell of Rs. 120 Cr. For this expiry, FII and DII together are net sell worth Rs. 3057 Cr.
In Index Options, last trading day, FII have sold 26028 contracts, above its post Demonetization average of 8577 contracts. Pro have bought 132 contracts, below its post Demonetization average of 26619 contracts. Combined there has been a net sell of 25896 contracts, below its post Demonetization average of 31662 contracts. For the current expiry, FII and Pro combined are net sellers of 53264 contracts.
In Index Futures, last trading day, FII have bought 643 contracts, below its post Demonetization average of 3577 contracts. Pro have sold 1800 contracts, below its post Demonetization average of 4177 contracts. Combined there has been a net buy of 2443 contracts below its post Demonetization average of 5200 contracts. For the current expiry, FII and Pro combined are net buyers of 27342 contracts.
International Market Morning Update:
Today morning, the MSCI Emerging market Index is down 0.37% after taking resistance of its previous day high yesterday.
The American Index, S&P 500 is trading in a narrow range, and is currently trading at 2257.
The German Dax after displaying extraordinary strength continued to 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 21st 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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