News
Fitch Warns It may be forced to downgrade dozens of banks, including JPMorgan Chase.
Moody’s, another rating agency, recently downgraded 10 mid-sized US banks and indicated potential cuts for others.
Indian CPI inflation in July Month at 7.44%
UK July CPI Inflation at 6.8% and Core CPI inflation at 6.9%
The Indian government has raised the windfall tax on petroleum crude from ₹4,250 to ₹7,100 per tonne, effective from August 15.(Negative for reliance)
Infosys, an Indian IT services company, secures a €1.5 billion ($1.6 billion) deal from Liberty Global for building and scaling digital communications platforms.
Cabinet is likely to have approved ₹63,000 cr for EV bus services in cities EV bus services will be started in 170 cities under the scheme.
Adani Port: Promoter bought a 2.03% stake in the open market from June 2-August 11, 2023
Adani Power: Promoter entity is likely a seller of 8.1% equity in the block deal. A global fund is a likely buyer in the Adani Power block deal.
JSW Energy: Authum Investment & Infrastructure sold 1.6 crore shares (1%) and GQG Partners bought 1.2 crore shares (0.7%) at Rs 345 apiece.
Ujjivan Financial Services: Newquest Asia Investments II sold 30 lakh shares (2.5%) at Rs 495.19. BNP Paribas bought 6.8 lakh shares (0.5%) at Rs 495.15 and Abakkus Emerging Opportunities Fund bought 11.5 lakh shares (0.9%) at Rs 495 apiece.
- Nykaa company will be focused on eB2B profitability and expanding offline stores
Global Markets
| Country | Indices | Change% |
| US | DOW 30 | -1.02% |
| S&P 500 | -1.16% | |
| NASDAQ | -1.14% | |
| UK | FTSE | -1.57% |
| Germany | DAX | -0.86% |
| Japan | Nikkei 225 | +0.56% |
| China | Shanghai | -0.07 |
| Country | Futures | Change% |
| US | DOW 30 | -0.05% |
| S&P 500 | -0.05% | |
| NASDAQ | -0.01% | |
| UK | FTSE | -0.01% |
| Germany | DAX | -0.37% |
| IND | Gifty Nifty | -0.40% |
- Ftse Opened flat and then consolidated
Indian Market
Morning
- Nifty opened a gap down of 40 points took the support at 19350 and consolidated
- Banknifty took support at 43700 and consolidated
After European Markets Opened
- Nifty Broke the day high and rallied slowly and steadily.
- Banknifty consolidated around 43900 whole second half
Institutional Data
| Cash Market | FII: +722 Cr | DII +2406 | Bullish |
| Index Futures | +221 Cr | Bullish | |
| Index Options Day Activity | Net Calls 28k | Net Puts: 47k | Bearish |
| Index Options Overall | Net Calls: 2.54L | Net Put: 3.7L | Mixed |
| PCR | 0.95 | Mixed | |
Market Outlook For Tommorrow
- Market looking bullish
- Do not go for aggressive buying as markets are continuously rallying from 16k to 17.4k some correction expected
- Buy on dips suggested until 1hr trend reversal sign confirmation
- Expecting Nifty will be in the range of 19400 – 19500
- Expect big upwards move only if it closes above trend line
- Big room is there for bank nifty to move either side, one can avoid sideways trade activity tomorrow.
Today Trading Activity
- Entered with the bearish view as global factors indicating bearishness
- But our price action was bullish, deployed 19350 straddle, and rolled to 19400 as nifty rallied
- Made 0.6% on capital deployed