According to a news report in a ink paper, global majors are likely to buy a 26 percent stake in ADAG owned R-Com. We think this is a baseless rumor and short term investors should look to book profits at Rs 250 level
Now it is the turn of auto sector to cut taxes following the cement makers, who have decided to pass on their savings from the reductions in excise duty. Commodities are likely to stay strong even in today's trade after a decent Wednesday
Key indices were able to build on the early gains on account of buying witnessed in
heavyweights like RIL, Bharti Airtel and RCOM. Nifty futures ended the day at 2,937 up 147 points adding 29 lac shares
(~8.1%) in the total open interest position with a positive cost of carry. The Put Call ratio of open interest for Nifty now
stands at 1.31 and in volume terms at 0.92. In the option front, call option ranging from 2,700 and 2,800 witnessed
unwinding to the tune of ~2.7 and ~4.9 lac shares in open interest. On the Put option front, 2,800 strike put added
~20.2 lac share in open interest.
FIIs were net buyers in Index Future by Rs1,107cr with increase in open interest by 63,818 contracts (13.1%). In Single
Stock Future, they have gone net long to the tune of Rs37cr with increase in open interest by 6,323 contracts (0.9%). In
the Index Option segment, they were net buyers by Rs375cr. FIIs were net sellers in cash segment by Rs950cr
(Provisional). DIIs were net sellers in cash segment by Rs59cr (Provisional). Expect Nifty to open positive but might face
resistance at higher levels
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