“The market is closely monitoring the developments in global indices and the recent slump in the US market ahead of the Jackson Hole Symposium has led to caution domestically as well. Technically, there are signs of consolidation as Nifty has failed to breach the resistance at 24,850 levels. Nevertheless, we maintain a bullish outlook on the market and recommend focus on select stock picks,” Ajit Mishra, SVP, Research, Religare Broking said.
The breakdown of pre-market transactions is as follows:
Market situation
GIFT Nifty (formerly SGX Nifty) signalled a flat start. Gift Nifty Nifty futures fell 28 points to trade at 24,831. Tech View
Currently, Nifty needs to sustain above 24700 zone and extend the move towards 25000 and 25100 zones, while support lies at 24700 and 24550 zones, said Chandan Taparia of Motilal Oswal. India VIX
India’s VIX index, which gauges market fear, fell 2.49% to end at 13 levels.
Global Market
S&P 500 futures were up 0.2% as of 9:15 a.m. Tokyo time. Hang Seng Index futures were down 1%. Japan’s Topix was up 0.3%. Australia’s S&P/ASX 200 was down 0.4%. Euro Stoxx 50 futures were little changed.
Today’s F&O Prohibited Stocks
1) India Cement
2) Balrampur Chini Mills
3) GNFC
4) Narco
5) Birla Soft
6) Sun Television
7) Arty Industries
8) ABFRL
9) Pell
10) LIC Housing Finance
11) Hindustan Copper
12) Granules
13) Chambal Fertilizer
14) RBL Bank
Securities under prohibition in the F&O segment include companies whose securities exceed 95% of the market-wide position limit.
FII/DIIAction
Foreign portfolio investors turned net buyers of Rs 1,372 crore on Wednesday, while DIIs bought shares worth Rs 2,972 crore.
Rs.
The rupee traded in a narrow range and closed 3 paisa lower at Rs 83.93 against the US dollar on Thursday as rising demand for dollars by importers and recent foreign fund outflow dampened investor sentiment.
FII Data
FII net longs increased to Rs 24,869 crore on Thursday from Rs 17,768 crore on Wednesday.
(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. They do not represent the views of The Economic Times)
