LISTLESS

The markets opened on a very flat note but the markets gained strength as the session progressed and with just one hour left for the end of the session, the markets touched their intraday highs, but surprisingly from this point onwards the markets started losing all their gains and ultimately both the indices closed almost flat. The Nifty and the Sensex closed up by 11 and 33 points respectively. The market breadth however closed on a positive note with 906 advances to 592 declines. There was hardly any activity on the sectoral front, with most of the sectors closing on a flat note. On the individual stocks front, DLF, JP Associate, Power Grid, Tata Steel & Reliance Infra were the top five Nifty gainers while Jindal Steel, Coal India, ONGC, Ultratech Cement & Bajaj Auto were the top five Nifty losers for the day. On the institutional side, also there was very little activity with FIIs turning net buyers to the tune of 143 crores and DIIs turning net sellers to the tune of 110 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 415 crores and net buyers in Index options to the tune of 105 crores, while they were net buyers in Stock futures and Options to the tune of 387 and 60 crores respectively. Nifty future settled at 5905 with just 7 points premium to the spot along with a considerable increase in open interest. On the options side PCR stood at 0.86, along with a massive jump in the India VIX by 6.89%. On the Call options side, the 6000 call added the maximum open interest, followed by the 6200, 6100 & 5900 calls, while on the Put options side, the 5600 put added the maximum open interest, followed by the 5500 put  on the other hand the 5700 put lost the maximum open interest followed by the 5900, 6000 & 6100 puts. The entire activity in the cash market was once again stock specific, while on the F&O side more shorts were added in the Index futures and options along with some profit booking on the put options side.

On the technical side Nifty could not close above the 5900 mark, for the third consecutive session and although the index seems to be trading sideways, the underlying market breadth is becoming weaker day by day, and the levels to watch out for Nifty will be 5913 & 5928 on the upside and 5880 & 5860 on the downside. On the currency front the Rupee came off its lows to end higher today, as late inflows related to foreign funds selling dollars outweighed demand from oil importers. The partially convertible Rupee finally closed at 54.18 while the near month USD-INR future settled at 54.31 for the day.

On the International markets front, the Asian markets have closed on a mixed note, while the European markets have closed almost flat and the U.S. markets are trading almost flat. On the Energy futures front, the Brent and WTI crude oil futures are trading down by 0.49 & 0.55% at 117.08 & 95.88 $/bbl respectively, while the Natural Gas future is trading up by 0.51% at 3.16 $/MMBtu.