Negative global cues, weak rupee drag indices lower

Broadly negative global indices, coupled with foreign fund outflows and rupee depreciation, dragged the Indian equity markets lower on Thursday. The key indices provisionally closed in the red, as heavy selling pressure was witnessed in metal, banking and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) declined by 82.20 points or 1.02 per cent to 7,979.10 points. The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,224.07 points, provisionally closed at 25,979.60 points (at 3.30 p.m.) — down 262.78 points or 1.00 per cent from the previous close at 26,242.38 points.

The Sensex touched a high of 26,248.45 points and a low of 25,940.14 points during the intra-day trade. The BSE market breadth was skewed in favour of the bears — with 1,990 declines and 660 advances.

The index is now close to an important support of 7920, a breach of which can trigger a another round of sell-off.

Traded Value (Rs. In Crores)    13533.63
Traded Quantity (in Lakhs)    6763.35
Number of Trades    6385308
Total Market Capitalisation (Rs. Crores)    10218359

ADVANCES    291
DECLINES    1329
UNCHANGED    56

In the cash segment FIIs were net sellers to the tune of Rs 614 crores and DIIs net buyers to the tune of  Rs 320 crores.

Today FIIs sold net 13873 contracts of index futures, sold net 6146 contracts of index calls and bought net 1038 contracts of index puts.

Now FIIs are holding net long 36490 contracts of index futures, net short 41064 contracts of index calls and net long 354945 contracts of index puts.

Retailers bought net 11547 contracts of index futures,  bought net 20068 contracts of index calls and sold net 31968 contracts of index puts.

Pros bought net 4091 contracts of index futures, sold 13922  net  contracts of index calls and bought net 26546 contracts of index puts. DIIs again sold net 1765 contracts of index futures  but most important point to be noted is they bought net 4384 index puts.

FII positions in Index puts, futures and calls.

Nifty Put Call Ratio (PCR) data shows support at 7900 and resistance at 8000