MOSt Market Roundup
8th March 2019
Cash Volumes (INR in Crores)
Market took a pause after a rally of 2% in the last three trading sessions.
Weak global cues pulled down Nifty by 23 points to close at 11035.
Global markets witnessed sharp declined after China announced
disappointed trade data. China Index nosedived 4.40% followed by
Nikkei and Hong Kong Index slipped 2% each. European market open
on a weak note after European Central Bank (ECB) grim economic
forecasts reinforced concerns that global growth is slowing and kept
unchanged interest rate of zero. However, Indian markets not yet facing
any negative impact as compared to the global market on account of
impressive domestic growth, 2-month low USDINR and reduced geo-
political tension. Auto, Tech, Metal and Pharma stocks declined while
select banking stocks gained. Wipro declined over 4% to close at Rs258
after ~0.44% stake (26.7mn shares) sold by the promoters through block
deal. Arvind Fashions listed at Rs620.45 on NSE, after the branded
apparel business spins off from Arvind Ltd. Tata Motors declined 4% to
close at Rs181 after JLR February retail sales declined by 4.1% YoY. Tech
stocks like Infosys and HCL Tech declined by 1% and 2% respectively.
Weak global economy pulled down metal stocks.
Advance / Decline
Top Nifty - 50 Index Gainers
Top Nifty - 50 Index Losers
Nifty index opened negative but consolidated for the most part of the
trading session and managed to hold above 11000 zones. It formed a
Doji Candle on daily scale while Bullish Candle on weekly chart which
implies that decline is being bought into the market. Now it has to
continue to hold above 10985 zones to extend its move towards 11118
then 11200 zones while on the downside support exists at 10985 then
Derivative Volumes (INR in Crores)
Nifty future closed negative with marginal loss of 0.18% at 11078 levels.
On option front, maximum Put OI is at 11000 followed by 10800 strike
while maximum Call OI is at 11500 followed by 11300 strike. Minor Put
writing is seen at 10900 strike while Call writing is seen at 11100 followed
by 11300 strikes. Option band signifies a trading range in between
10888 to 11200 zones. India VIX fell down by 2.29% at 14.94 levels.
Now, VIX has to continue to hold below 16-15 zones to get the smooth
ride in the market. Built up of long positions were seen in NTPC, BEML,
Just Dial and RBL Bank while Shorts were seen in Wipro, Arvind, ONGC
and Coal India.
Most Active Nifty Calls
No. of Contract
Most Active Nifty Puts
No. of Contract
Motilal Oswal Securities Ltd., Motilal Oswal Tower, Level 2, Sayani Road, Prabhadevi, Mumbai 400 025