Macro-economic Data Helped Markets To Gain

Post Market Commentary

Nifty gave negative opening on account of Asian market which also opened with red mark. Thereafter, in Mid-noon session, after WPI inflation data came at -4.95% against of previous month data of -4.05%, market reacted positively and started to rise from 7810 levels. Finally, Nifty settled with 82.95 points positive move at 7872.25 level. In today’s trading session we have observed that Nifty has given close above 7860 levels with lower volumes which means buyers have started to lose their strength.  

Market breadth for the Nifty Index has turn from weak to strong the advance decline ratio ended on the positive side in today’s trading session. 43 stocks has closed with green mark whereas, only 6 stocks has closed in red.

Top 5 Nifty Gainers: NTPC was top gainer that gained 5.06% followed by VEDL, BPCL, Hindalco, and Tata Steel. 

Top 5 Nifty Losers: Cairn was top looser with loss of 1.51% followed by, IDEA, Bajaj Auto, Maruti, and TCS. 

In today’s trading session all sector closed in green mark and CNX METAL sector was top performer gaining by 2.68%.

The Asian markets were quoting mixed; China’s Shanghai Composite was down by 2.67%, Hong Kong’s Hang-Seng gain by 0.27% , while Japan’s Nikkei was down by 1.63%.

European market traded in green mark, show resilience to China growth concerns.

Derivative Analysis

The Nifty September futures open interest has increased by 2.28%. Bank Nifty September futures open interest has increases by 9.53%. Nifty market closed at 7,872.25 levels & Bank Nifty marked closed at 16,911.80 levels.