Asian markets were trading lower. China’s Shanghai Composite was down 0.48% or 9.92 points at 2,068.58.
Japan’s Nikkei was flat at 9,163.77.
Singapore’s Straits Times was down 0.25% or 7.58 points at 3,071.14.
South Korea’s Seoul Composite was down 0.21% or 4.16 points at 1,998.19.
Taiwan’s Taiwan Weighted was down 0.42% or 32.80 points at 7,729.42.
Hong Kong’s Hang Seng was up 0.16% or 32.58 points at 20,690.69.
The US markets snap a four-day rally, pulling back from Fed-fueled multi-year highs, amid fresh geopolitical worries and following a sharp drop in oil prices. Despite the day’s pullback, all three major averages are still up more than 3% for the month.
Dow Jones Industrial Average was down 0.3% or 40.27 points at 13553.1. Nasdaq Composite was down 0.17% or 5.28 points at 3178.67. Standard & Poor’s 500 was down 0.31% or 4.58 points at 1461.19.
In stock specific action Apple crossed USD 700 a share in after-hours trading after closing at a new all-time high after the company said iphone 5 sales set a record over the weekend.
On economic data front, factory activity in New York state contracted for a second month in a row in September, falling to its lowest level in nearly 3-1/2 years as new orders shrank further.
In key data to watch out for in US today, housing market index is expected to rise to 38 in September.
In the currency space, the dollar hovers around 7-month lows against a basket of major currencies. The dollar index was below the 79 mark.
In commodities, Brent crude slipped to USD 111 levels in 3 minutes yesterday. It pares its losses to trade back above USD 114. In the meanwhile the US commodity futures trading commission is looking into the reason for the fall.
From the previous metals space, gold prices slip marginally to USD 1760 levels.
Indian ADRs ended lower on Monday. In the IT space, Wipro was down 0.78% at USD 8.92, Patni was down 0.21% at USD 19.06 and Infosys was up 0.08% at USD 48.19.
In the Banking space, HDFC Bank was down 0.32% at USD 37.02 and ICICI Bank was up 2.38% at USD 39.1. In the Telecom space, Tata Communication was down 1.22% at USD 8.88 and MTNL was down 2.04% at USD 1.44.
In the other space, Sterlite was up 0.13% at USD 7.69, Tata Motors was down 1.61% at USD 25 and Dr Reddys was down 2.83% at USD 30.93.
Market cues:
FIIs net buy USD 522 million in cash market on Sep 14
MFs net sell Rs 202 crore in cash market on Sep 14
As per provisional data of September 17, FIIs were net buyers of Rs 2252 crore in cash market. FIIs were net buyers of Rs 1976 cr in F&O. DIIs were net sellers of Rs 838 cr in cash market.
F&O cues:
Nifty options suggest market range of 5400-5700
Total Puts add 42.4 lakh shares in Open Interest
Total Calls adds 10.3 lakh shares in Open Interest
5800 Call adds 22 lakh shares in Open Interest
5700 Call adds 7.7 lakh shares in Open Interest
5600 Put adds 11 lakh shares in Open Interest
5500 Put adds 9 lakh shares in Open Interest
5600 Call sheds 14 lakh shares in Open Interest
Total Nifty Futures added 12.3 lakh shares in OI
Stock Futures adds 62.2 lakh shares in OI
Nifty PCR rose to 1.1 from 1.03
India VIX closed at 17.78 up by 15.6%
FIIs in F&O on Sep 17
FIIs net buy Rs 1122 cr in Index Futures; Index Futures Open Int contracts up by 21420
FIIs net buy Rs 541 cr in Index Options; Index Options Open Int contracts up by 118440
FIIs net buy Rs 428 cr in Stock Futures; Stock Futures Open Int contracts up by 11715
As per overseas market view, the US markets eke out marginal gains following the Fed’s beige book report, but trading was thin and muted throughout most of the session as investors remained cautious ahead of Chairman Bernanke’s speech tomorrow. The CBOE volatility index rose more than 3% to above 17.
Dow Jones Industrial Average was up 0.03% or 4.49 points at 13107.48. Nasdaq Composite was up 0.13% or 4.05 points at 3081.19. Standard & Poor’s 500 was up 0.08% or 1.19 points at 1410.49 in New York stock exchange
On economic data front, the US economy fared slightly better than expected in the second quarter, expanding at a 1.7-percent annual rate. Pending home sales in July jumped to their highest level in more than two years.
According to the Fed’s latest beige book, the economy continues to show improvement in July and early August, but manufacturing activity has weakened in many areas of the country. The Fed also says that retail activity, including auto sales, has picked up since its previous report.
In key data to watch out for in the US today, weekly jobless claims are expected to dip slightly to 370,000.
In the currency space, the euro stays near the 7-week high versus the dollar. The dollar index towards the 81.50 mark.
In commodities, Nymex crude prices decline following a rise in US crude stockpiles. Brent crude stays above USD 112 levels.
From the precious metals space, gold price trade around USD 1655 levels.
Indian ADRs ended mixed on Wednesday. In the IT space, Wipro was up 0.25% at USD 8.03, Patni was unchanged at USD 18.66 and Infosys was down 0.77% at USD 42.75.
In the Banking space, HDFC Bank was up 0.62% at USD 34.11 and ICICI Bank was down 0.33% at USD 33.14. In the Telecom space, Tata Communication was up 0.37% at USD 8.15 and MTNL was down 1.95% at USD 1.51.
In the other space, Sterlite was down 5.47% at USD 7.26, Dr Reddys was down 0.59% at USD 30.3 and Tata Motors was up 0.62% at USD 21.1.
F&O CUES:
Nifty options suggest market range of 5200-5400
Total Puts shed 37.6 lakh shares in Open Interest
Total Calls adds 33.4 lakh shares in Open Interest
5400 Call adds 15.25 lakh shares in Open Interest
5300 Put sheds 19.2 lakh shares in Open Interest
Sept 5400 Call adds 6.7 lakh shares in Open Interest
Sept 5300 Call adds 3.9 lakh shares in Open Interest
Sept 5200 Put adds 3.5 lakh shares in Open Interest
Sept 5100 Put adds 2.8 lakh shares in Open Interest
Total Nifty Futures shed 3.1 lakh shares in OI
Stock Futures sheds 58.4 lakh shares in OI
Nifty PCR fell to 1.13 from 1.23
India VIX closed at 16.74 up by 2.39%
FIIs in F&O on August 29
FIIs net sell Rs 7 cr in Index Futures; Index Futures Open Int Contracts down by 19355
FIIs net sell Rs 772 cr in Index Options; Index Options Open Int Contracts up by 12916
FIIs net sell Rs 579 cr in Stock Futures; Stock Futures Open Int Contracts up by 5755
The US markets ended lower, on a late day reversal dragged by techs, as investors took profits. The Nasdaq erased 9 points to close at 3,067. Earlier, the Nasdaq hit an intraday high of 2,799 its highest level since December 2000. The S&P 500 to rose to fresh 4 year highs in intraday trade, but ended the day down 0.35%. The CBOE volatility index jumped 7% to above 15 levels.
Dow Jones Industrial Average slipped 0.51% or 68.06 points at 13203.58. Nasdaq Composite was down 0.29% or 8.95 points at 3067.26. Standard & Poor’s 500 shed 0.35% or 4.96 points at 1413.17.
In key data to watch out in the US today, investors will be looking ahead to the release of the Federal Reserve’s latest minutes from its July meeting. Also watch out for existing home sales data that may rise to 4.5 million annual rates.
In the currency space, the euro rises to a 6-week high ahead of euro zone regional leaders meet this week to discuss Greece’s fiscal adjustment program. The dollar index slips below the 82 mark.
In commodities, crude prices gain with Brent just shy of the USD 115 mark after a report showed that stockpiles declined the most in three weeks in the US.
From the precious metals space, gold prices gain more than a percent on further stimulus talks. Platinum too hit a three and a half month high.
Indian ADRs ended higher on Tuesday. In the IT space, Wipro was up 2.13% at USD 8.16, Infosys was up 1.92% at USD 43.49, and Patni was up 0.76% at USD 18.5.
In the Telecom space, Tata Communication was up 1.81% at USD 8.46 and MTNL was up 0.84% at USD 1.2. In the Banking space, ICICI Bank was up 0.69% at USD 35.18 and HDFC Bank was down 0.68% at USD 34.97.
In the other space, Sterlite was up 4.87% at USD 8.19, Tata Motors was up 1.38% at USD 22.04 and Dr Reddys was up 1.81% at USD 29.89.
Asian markets were trading mixed. Hong Kong’s Hang Seng rose 0.62% or 123.25 points at 20,086.20.
Japan’s Nikkei advanced 0.64% or 58.17 points at 9,150.93.
Singapore’s Straits Times was up 0.14% or 4.37 points at 3,067.26.
South Korea’s Seoul Composite shed 0.51% or 9.91 points at 1,948.
China’s Shanghai Composite was down 0.14% or 3.01 points at 2,109.19.
Taiwan’s Taiwan Weighted was flat at 7,495.14.
The US markets have their best session in nearly two weeks as German Chancellor Angela Merkel reiterates her support for the ECB’s plans to fight the euro zone crisis and as the Dow component Cisco systems hiked its dividend 75%. The CBOE volatility index slipped to just above 14, a five-year low.
Dow Jones Industrial Average gained 0.65% or 85.33 points at 13250.11. Nasdaq Composite added 1.01% or 31.46 points at 3062.39. Standard & Poor’s 500 rose 0.71% or 9.98 points at 1415.51.
In economic data, weekly jobless claims rose last week to a seasonally adjusted 366,000, in line with expectations. Factory activity in the mid-atlantic area contracted for the fourth-straight month in August. And housing starts unexpectedly fell in July to a seasonally adjusted annual rate of 746,000.
In the currency space, the euro gains versus the dollar, above 1.23 as Chancellor Angela Merkel reiterates her support for the ECB’s plans to fight the euro zone crisis.
In commodities, Brent crude prices at 3 month peak following weakness in dollar and comments from German Chancellor Angela Merkel.
In the precious metals space, gold prices gain on further stimulus hopes.
Indian ADRs ended mixed on Thursday. In the IT space, Infosys was up 1.69% at USD 42.08, Patni was down 0.11% at USD 18.38 and Wipro was down 0.37% at USD 8.02.
In the Telecom space, Tata Communication was up 1.68% at USD 8.47 and MTNL was up 0.33% at USD 1.21. In the Banking space, HDFC Bank was up 0.74% at USD 35.27 and ICICI Bank was down 0.89% at USD 34.44.
In the other space, Tata Motors was up 1.93% at USD 21.15, Dr Reddys was up 1.43% at USD 29.73 and Sterlite was down 0.88% at USD 7.88.
The US markets eased off their session lows but still ended in the red, with the S&P 500 snapping a six-day winning streak, amid fears of a global economic slowdown. The CBOE volatility index fell below 14 to its lowest level in almost five years.
Dow Jones Industrial Average was down 0.29% or 38.52 points at 13169.43. Nasdaq Composite was up 0.05% or 1.66 points at 3022.52. Standard & Poor’s 500 was down 0.13% or 1.76 points at 1404.11.
In key data to watch out for in the US today, the producer price index for the month of July is expected to edge up 0.2%. And retail sales may see a 0.3% growth in July.
In the currency space, the euro holds on to its yesterday gains ahead of the GDP data due from Germany and France.
In commodities, Brent crude prices retreat to USD 113 levels after touching an intraday high of USD 115 levels yesterday.
Indian ADRs ended lower on Monday. In the IT space, Infosys was down 0.93% at USD 41.4, Wipro was down 0.61% at USD 8.1 and Patni was down 0.58% at USD 18.6505.
In the Banking space, ICICI Bank was down 1.52% at USD 34.39 and HDFC Bank was down 0.93% at USD 35.25. In the Telecom space, Tata Communication was down 1.97% at USD 8.42 and MTNL was up 1.33% at USD 1.216.
In the other space, Dr Reddys was down 1.57% at USD 29.41, Tata Motors was down 1.09% at USD 20.81 and Sterlite was up 0.5% at USD 8.09.
F&O cues:
Nifty options suggest market range of 5200-5400
Total Puts add 15.4 lakh shares in Open Interest
Total Calls shed 3.6 lakh shares in Open Interest
Highest OI buildup seen in 5000 Put & 5500 Call
5000 Put sheds 1.75 lakh shares in Open Interest
5500 Call adds 29K shares in Open Interest
5300 Put adds 8.82 lakh shares in Open Interest
5200 Put adds 5.25 lakh shares in Open Interest
4900 Put adds 4 lakh shares in Open Interest
5400 Call sheds 5.95 lakh shares in Open Interest
5300 Call adds 22K shares in Open Interest
Total Nifty Futures added 10.4 lakh shares in OI
Stock Futures adds 1.7 cr shares in OI
Nifty PCR rose to 1.2 from 1.17
India VIX closed at 16.01 down by 0.37%
FIIs in F&O on August 13
FIIs net sell Rs 28 cr in Index Futures; Index Futures Open Int Contracts up by 22065
FIIs net sell Rs 410 cr in Index Options; Index Options Open Int Contracts up by 17193
FIIs net sell Rs 442 cr in Stock Futures; Stock Futures Open Int Contracts up by 5226
* Disclaimer: These recommendations are based on the theory of technical analysis and outlook of the market performance. Readers those who buy and sell securities based on the above information in this column are solely responsible for their actions. The author won't be liable or responsible for any sort of financial and legal loses suffered by the traders.
Asian markets were trading lower. China’s Shanghai Composite was down 0.48% or 9.92 points at 2,068.58.
As per overseas market view, the US markets eke out marginal gains following the Fed’s beige book report, but trading was thin and muted throughout most of the session as investors remained cautious ahead of Chairman Bernanke’s speech tomorrow. The CBOE volatility index rose more than 3% to above 17.
