Nifty Closes With Minor Gain
Chirag Gothi / 03 Nov 2015
The Indian benchmark indices had given gap up opening followed by the Asian markets cues and investors were also encouraged by the upbeat handover from Wall Street. In mid session the market maintained early gains where as technology, banking & financials, metals, select pharma and oil stocks held the market strength. In the last trading hour Nifty had started to lose its strength and drifted lower following the European market. Finally, Nifty given closed at 8060.70 levels with minor gain of 9.90 points.
Post Market Commentary:
The Indian benchmark indices had given gap up opening followed by the Asian markets cues and investors were also encouraged by the upbeat handover from Wall Street. In mid session the market maintained early gains where as technology, banking & financials, metals, select pharma and oil stocks held the market strength. In the last trading hour Nifty had started to lose its strength and drifted lower following the European market. Finally, Nifty given closed at 8060.70 levels with minor gain of 9.90 points.
The breadth for the Nifty index has has turned from positive to negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 24 stocks closed in the green, whereas 25 stocks closed in the red.
Top 5 Nifty Gainers: NTPC was the top gainer gaining with 2.41% followed by POWERGRID, ACC, M&M and HINDALCO.
Top 5 Nifty Losers: ASIANPAINT was the top loser with a loss of 1.92% followed by LUPIN, TATASTEEL, TATAMOTORS and ADANIPORTS.
In today’s trading session PSE Sector was top gainer gain with 1.05% where as PSU Bank sector was top loser losing with 0.29%.
The Asian markets quoted in mixed; China's Shanghai Composite declined by 0.20% today, Hong Kong's Hang-Seng was up by 0.88% , while Japan's Nikkei was closed today.
The European indices traded in red, London’s FTSE 100 index was down by 0.17% and the German DAX down by 0.25% and French CAC down by 0.02%.
Derivative Analysis
The Nifty November futures open interest has increases by 5.85%. Bank Nifty November futures open interest has increased by 6.11%. Nifty market closed at 8,060.70 levels & Bank Nifty closed at 17,325.60 levels.
The Nifty November future closed at a premium of 14.3 points.
The December series closed at a premium of 56.3 points.
The Implied Volatility of at the money options has increased by 0.39%.
Nifty PCR-OI has sustained at 1.00 levels.
Interpretation: On the basis of above data,its observed that 8000 may act as strong Support & 8500 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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