Markets snap 6-day losing run; Sensex jumps 635 pts, Nifty nears 19,050

Closing Bell on October 27, 2023: Among sectors, the Nifty PSU Bank index jumped 4 per cent today

9:13 AM

Commodity check :: Crude oil up 1% on MCX

9:10 AM

Pre-Open Session :: Nifty tops 18,900

9:08 AM

Pre-Open Session :: Sensex surges 400 pts

9:02 AM

Currency alert: Rupee opens flat at 83.22/$

8:57 AM

IT industry salaries, wages continue to give margins a run for its money

The industry's core operating margins (that exclude other income) declined to 22 per cent of net sales in Q2FY24 from 22.4 per cent a year ago and the five-year average of 23.6 per cent of net sales. Read

8:53 AM

More appetite for FDs when compared to debt funds: What should you pick?

The advantage of short-term debt funds is that it has higher liquidity and can be withdrawn only when the needs come. Read

8:49 AM

Nifty Auto eyes fresh selling below this level; Buy Nifty IT near support

As per Ravi Nathani, traders should wait for the correction to complete and start buying Nifty IT index at or near the support level of 29,800. Read

8:43 AM

Short rollover seen in Nifty Futures; Check Bear Spread strategy for index

The short-term trend of the Nifty index is weak as it is placed below its 5,11 and 20-day EMA. Read

8:39 AM

DIIs counter foreign outflows: Buy Rs 6,558 crore of shares Thursday

8:35 AM

FII selloff of Rs 7,702 crore of shares tanks indices Thursday

8:30 AM

Stocks to Watch today: RIL, Voda Idea, SBI, Adani, TTML, Jaiprakash Power

Vodafone Idea: Vi, on Thursday, reported a 15.2 per cent higher consolidated net loss of Rs 8,746 crore in the July-September quarter of the financial year (FY24) on a year-on-year (YoY) basis as a result of increasing expenses. Average revenue per user (ARPU) for the quarter rose to Rs 142 on a sequential basis, up from Rs 139 in the preceding quarter. 
 

Punjab National Bank: The public-sector lender's net profit for Q2FY24 jumped 327.14 per cent YoY to Rs 1,756 crore owing to a substantial rise in its net interest income (NII) and decline in credit costs. Its NIM expanded to 3.11 per cent from 3.08 per cent QoQ and 3 per cent YoY. Read

8:00 AM

Tech View: Bearish end to Nifty Oct Expiry; correction likely to continue

Nifty fell 3.42% during the October month expiry. Nifty futures rollover stood at 83.39%, which is significantly higher compared to last month's expiry rollover of 76.00% and its three months average of 79.14%

 

Nifty will start the November series with an open interest of 1.16 crore shares compared to an OI of 1.04 crore shares at the beginning of the October series.

Nifty saw significantly higher rollover with a higher cost of carry (+0.57%) and a sharp rise in open interest, compared to its previous month, indicating carry forward of short positions to the November series.

 

India VIX, known as the fear indicator, rose sharply to 11.73 on the last day of the October series, giving discomfort to the bulls.

The FPI Long Short ratio hovered between the 24-27% range throughout the October series and slumped to a low of 10.88% on the last day, as FPIs continued to aggressively build short positions in Index Futures.

The Put-Call Ratio, a sentiment indicator, also fell sharply from 1.44 on 29th September to 0.61 on 26th October indicating call writers’ dominance throughout the October series.

 

On the Options front in the November monthly expiry, the 19,000 Strike put option has highest open interest with 52,67,150 contracts followed by the 18,000 Strike put option with 33,99,650 contracts.

While on the call side, the 19,000 call has highest open interest with 27,84,450 contracts followed by the 19,500 Call strike with 22,69,250 contracts.

 

Nifty has closed near the 200-Day Exponential Moving Average of 18,830 levels on the daily chart. 

 

It is at a make-or-break level currently. A strong close above 19,050 supported by FPI buying in Index futures and a rising PCR, can pave the way for buyer’s comeback in the Index. On the other hand, a close below 18,800 is most likely to further intensify the ongoing selling pressure until 18,500 levels.

Views by Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities

7:55 AM

Brent Crude holds around 1% gain at $88.7 per barrel

7:50 AM

Gift Nifty in green taking cues from Asian peers elsewhere

7:46 AM

US equity futures gain after cash market losses

Amazon Inc aids gains in Nasdaq futures.