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Market Outlook

FII INVESTMENT 30-JUNE 2016

FII Activity details mentioned below. In the cash market today, FII’s bought 102 crores stock whereas DII’s sold 20 crores worth of stock. In the derivative market, FII’s bought 683 crore of Index futures and bought 686 crores worth of Index options. In the Stock futures segment, FII’s bought 398 crores worth of stock futures and sold 97 crores of stock options. In today’s session, FII’s have increased their exposure in Index long futures (by 8%) and their positions in Index shorts is increased by 1.8 %. In options, FII’s have increased positions in Index Call (long) by 0.3 % and positions in Index Put (long) is increased by 1.5%.

Today was another day of consolidation in the market. Global markets were sluggish as well with most markets consolidating the recent gains. Only negative thing was that Bank Nifty corrected sharply. Difficult to pin point the reason as such. Overall most of the sectors were in consolidation mode. GDP numbers were announced today and they were higher than expectations. This was a positive surprise but growth needs to translate into jobs and more capital expenditure. As of now, both remain sluggish. Despite good GDP numbers, currency remained weak. USDINR again depreciated to 67.4 level. Until RBI policy (7th June), currency will remain volatile. Volume wise, it was a low volume session. Short term support for Bank Nifty is 17300 and short term support for Nifty it is 8100. Medium term support level for Bank Nifty is 16500 (spot). Support level for Nifty is 7850 (spot).

 

 

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