10th March market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed positive at the end of the day. BSE Sensex was up by 1223.24 points (2.29%) to 54647.33 and Nifty was up by 331.90 points (2.07%) to 16345.35

Asian paints, Reliance, Bajaj finance were the top gainers.

Nifty support is at 16200 and resistance is at 16800

Markets moved higher after Ukrainian President Zelenskyy announced the country was no longer interested in NATO membership

Market will react based on global trend and domestic election results.

Oil prices continued to rise after the US banned Russian oil imports

FIIs are moving their money to commodity exporters. In India, foreign portfolio investors sold $12 billion this year and invested $13 billion in commodity exporters like Brazil and Indonesia

LIC gets Sebi approval to launch India's biggest ever IPO

PNC Infratech bags new highway project worth Rs.864 crore

L&T Construction wins contract for its heavy civil infrastructure business worth Rs.1,000-2,500 crore

Hindustan Unilever Limited (HUL) announced that Madhusudhan Rao will be appointed as Executive Director, Beauty & Wellbeing and Personal Care. Deepak Subramanian will be appointed as Executive Director, Home Care.

Open Interest:

On open interest, maximum put open interest is at 16000 followed by 15500. Maximum call open interest is at 17000 followed by 16500.

Put Writing is at 16200 followed by 16600

Call Writing is at 16600 followed by 17000

India VIX down by 3.92% from 28.59 to 27.47 level.

India Vix has to fall below 20 for stability for the market

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 39.55% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 4818.71 crores, and DII's are net buyers 3275.94 crores.

Options data suggests a trading range between 16000 to 17000

Global Markets:

U.S Markets were closed positive at the end of the day

Dow Jones industrial average was up by 653.61 points (2.00%) to 33286.25 

S&P 500 Index was up by 107.18 points (2.57%) to 4277.88 

Nasdaq Composite was up by 459.99 points (3.59%) to 13255.55

European markets were positive at the end of the day

Asian markets are positive right now 07.30 IST

SGX Nifty trading 300 points higher to 16645    07.30 IST

SGX Nifty indicates a positive start for Indian markets.

Keep an eye on these Economic Data:

U.S. Initial Jobless Claims Data after Indian Market hours.

U.S. Core Consumer Price Index (CPI) MoM after Indian Market hours.