Expects market to open on a negative note as global markets declined sharply ahead of US Fed interest rate decision to be announced today in expectation of US Fed to hike by 75bps interest rate today. US equities ended with solid losses on Tuesday as US central bankers opened their two-day policy meeting which is widely expected to end with a three-quarter-point interest rate hike. Fed officials have vowed to raise rates to bring down soaring inflation, with some observers speculating about a possible one-percentage-point move. Both Dow and Nasdaq Composite slipped 1% each.
European stocks fell to the lowest level since early July as investors braced for interest-rate decisions by major central banks this week that will signal the pace of monetary tightening as policy makers battle inflation amid economic slowdown risks. The Swedish central bank sprang the biggest rise in three decades, ramping up its rate by a full percentage point to 1.75%. UK, Germany and France Index slipped 1% each. Asian stocks opened lower after US shares declined and Treasury yields held gains near multiyear highs as investors position for a hefty interest rate hike from a hawkish Federal Reserve. Equities fell nearly 1% each in Japan, Australia and South Korea after the S&P 500 Index dropped more than 10% below the August high marking the peak of its rally from this year’s low. SGX Nifty declined by half percent
European stocks fell to the lowest level since early July as investors braced for interest-rate decisions by major central banks this week that will signal the pace of monetary tightening as policy makers battle inflation amid economic slowdown risks. The Swedish central bank sprang the biggest rise in three decades, ramping up its rate by a full percentage point to 1.75%. UK, Germany and France Index slipped 1% each. Asian stocks opened lower after US shares declined and Treasury yields held gains near multiyear highs as investors position for a hefty interest rate hike from a hawkish Federal Reserve. Equities fell nearly 1% each in Japan, Australia and South Korea after the S&P 500 Index dropped more than 10% below the August high marking the peak of its rally from this year’s low. SGX Nifty declined by half percent
Nifty September future closed at 17825.65 with a premium of 9.40 point v/s 5.75 point premium in the last session.
· Nifty futures OI decreased by 3.18% to 1.25 Cr and Bank Nifty futures OI increased by 1.44% to 24.54 Lakhs.
· Nifty Put/Call Ratio (OI) increased from 0.94 to 1,15 level.
· India VIX fell down by 5.73% from 19.94 to 18.79 levels. Volatility cooled off to higher zones which paved way for the bulls in the market then cooled off to highs which paved some way for the bulls in the market.
· On Options front, Maximum Call OI is at 18000 then 18500 strike while Maximum Put OI is at 17500 then 17000 strike. Call writing is seen 17900 then 18000 strike while Put writing is seen at 17800 then 17550 strike. Option data suggests a broader trading range in between 17200 to 18200 zones while an immediate range in between 17500 to 18000 zones.
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