9th 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 581.34 points (1.10%) to 53424.09 and Nifty was up by 150.30 points (0.95%) to 16013.45

Indian Oil Corporation (IOC), Sun Pharma, Tata consumer were the top gainers

Nifty support is at 15700 and resistance is at 16200

United States Bans Imports of Russian Oil, Liquefied Natural Gas, and Coal.

International oil benchmark Brent crude jumped 2.87 percent to USD 126.6 a barrel.

Russia warning a ban would more than double the price to $300 a barrel

The Rise in oil prices will impact earnings in the financial year 2023

Credit Suisse downgraded India's position to underweight

Sebi raises UPI limit for investing in debt issues

RBI launched UPI for payments to feature phone users for digital transactions

NSE IFSC completes first physical settlement of US stocks on T+3 basis through its clearing corporation (NIICL)

Open Interest:

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

Put Writing is at 15500 followed by 15900

Call Writing is at 16200 followed by 16100

India VIX down by 2.53% from 29.33 to 28.59 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 38% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 8142.60 crores, and DII's are net buyers 6489.59 crores.

Options data suggests a trading range between 15500 to 16500

Global Markets:

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

Dow Jones industrial average was down by 184.74 points (0.56%) to 32632.64 

S&P 500 Index was down by 30.39 points (0.72%) to 4170.70 

Nasdaq Composite was down by 35.41 points (0.28%) to 12795.55

European markets were flat at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 33 points higher to 15975    07.30 IST

SGX Nifty indicates a flat start for Indian markets.

Keep an eye on these Economic Data:

U.S. JOLTs Job Openings data after Indian market hours