Nifty ends above 9,950, up 1% for the week; Sensex settles 161 pts higher

Catch all that happened in the market here

9:20 AM

Broader market

 

The BSE Midcap and the BSE Smallcap indices outperformed to gain 0.4% each.

9:19 AM

Markets at open

At 9:18 am, the Sensex was trading at 31,723, down 6 points, while the broader Nifty50 was ruling at 9,913, down 4 points. 

9:14 AM

GDP growth hits 3-year low 

 

Economic growth plunged to 5.7 per cent in April-June of the current financial year (FY18), the lowest in the three-year rule of the Modi government due to demonetisation and destocking by companies following pre-goods and services tax (GST) jitters. 

 

Gross value-added (GVA) grew by 5.6 per cent in April-June, the same rate as in January-March, according to the data released by the Central Statistics Office. READ FULL REPORT

9:12 AM

Pre-open trade

 

The Sensex was trading at 31,769, up 38 points, while the broader Nifty50 was ruling at 9,937, up 19 points in pre-open trade.

9:10 AM

Derivative Strategy by HDFC Securities

 

LIC Housing September Future – BUY

 

CMP – Rs 677

Stop loss - Rs 665

Target - Rs 695

 

CLICK HERE FOR DETAILS

9:07 AM

Technical calls

 

Buy CEAT with a target of Rs 1,860: Vaishali Parekh of Prabhudas Lilladher. CLICK HERE FOR MORE

9:06 AM

Devangshu Datta on Bank Nifty

 

Stop-long positions at 24,250. Stop-short positions at 24,475. Big moves could go till 24,000, 24,700. Bias maybe slightly negative. CLICK HERE FOR MORE TECHNICAL CALLS

9:04 AM

Technical calls

 

Chandan Taparia of Motilal Oswal Securities suggests a 'buy' on Maruti Suzuki, Escorts and LIC Housing Finance. CLICK HERE FOR DETAILS

9:02 AM

Rollovers and OI in Nifty lowest in CY 2017: Angel Broking

 

It was indeed a historical series for our market as the benchmark index registered a new lifetime high during initial part of August series. However, selling got attracted thereafter, which lead market correcting towards 9,700 mark; followed by a range-bound move for the later part of the series. August series had begun with lowest open interest in calendar year 2017, gradually we saw good amount of open interest addition, out of which majority of the positions formed were on short side.

 

On options front, 10,000 calls of September series has highest OI, suggesting strong hurdle placed near 9,950-10,000 levels. While, looking at the open interest concentration in puts, 9,700 seems to act as a base for September series as well. 

9:00 AM

Rollovers to September series

 

Data showed market-wide rollover of positions stood at 78%, in line with the 78% average rollover seen in last three series. Nifty rollovers stood at 58%, which was far less than the average rollover of 72% seen in last three series.

8:56 AM

Asian markets

Asian markets were trading higher. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%. Australian shares added 0.15%, while South Korea’s KOSPI gave back earlier gains to dip 0.2%. Japan’s Nikkei climbed 0.2%.

 

Chinese shares gained after the private Caixin manufacturing purchasing managers index showed the country’s August manufacturing activity expanded at the fastest pace in six months. Shanghai was up 0.4% and Hong Kong’s Hang Seng rose 0.3%.

8:55 AM

Wall Street update

Wall Street shares closed higher overnight as investors responded to strong economic data and drew some cautious hope from the Trump administration’s latest promises for long-awaited details of a tax reform plan.

 

The Dow Jones Industrial Average rose 59.92 points, or 0.27% to 21,952, while the S&P500 index gained 13.94 points, or 0.57% to 2,471 and the Nasdaq Composite 60.35 points, or 0.95% to 6,428. 

8:52 AM

Singapore Nifty

 

At 8:50 am, SGX Nifty, Nifty futures being traded on Singapore Stock Exchange was trading at 9,940, up 2 points or 0.02%. 

8:51 AM

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