Daily Newsletter
NSE Intra-day chart (07 September 2017)
Top Gainers
Company NameClose% Change
Top Losers
Company NameClose% Change
World Indices
IndicesLast Trade% Change
IndicesLast Trade% Change
FII Activity(Rs. Cr)
DateMarketGross PurchaseGross SalesNet Change
Market Commentary 08 September 2017
Markets to make cautious but positive start

Indian equity benchmarks ended the volatile day of trade with marginal gains, as simmering geopolitical tensions kept many investors on edge. Markets started the session on optimistic note with both key indices recapturing their crucial 9,950 (Nifty) and 31,700 (Sensex) levels, mainly supported by firm global cues with report that US President Donald Trump and congressional leaders agreed to raise the government debt limit until December, eliminating the risk of a government shutdown for now. Back on regional turf, traders also took some support with a private report stating that economic activity in the country lost some pace amid GST related disruptions but underlying growth momentum remains strong and the country may clock 6.7 percent growth this fiscal. It further said that a number of high frequency growth indicators are indicating that end demand is holding up well and is running counter to the slowdown exhibited in the national accounts. However, markets failed to hold on to their initial gains and pared most of their gains to go home with small gains, as there was some concern in the markets with market regulator Securities and Exchange Board of India (SEBI) expressing its worries over stronger rupee. It has stated that the huge inflow of foreign investments into the country is having an impact on the rupee and regulators need to manage it through a calibrated system. As per SEBI data foreign portfolio investors have invested Rs 44,150 crore in Indian equities and Rs 1.29 lakh crore in debt so far this year. Separately, North Korea's Minister of External Economic Relations and head of the delegation at the Eastern Economic Forum in Vladivostok, Kim Yong-jae, said that the country will introduce strong countermeasures against the United States' attempts to exert pressure through strong sanctions. Finally, the BSE Sensex rose 0.77 points to 31,662.74, while the CNX Nifty was up by 13.70 points or 0.14% to 9,929.90.


The US markets closed mostly lower on Thursday, as investors sold financials, consumer-discretionary and telecommunication shares, with Disney and Goldman Sachs exacting a hefty toll on the Dow industrials. Investors were tracking Hurricane Irma and registering the latest policy stance from European Central Bank President Mario Draghi's. Hurricane Irma comes just two weeks after Hurricane Harvey hit the Texas and Louisiana Gulf Coast, where damages are estimated to be up to $190 billion. Earlier in the day, Trump and Senate Minority Leader Chuck Schumer reportedly agreed to pursue a deal that would remove the need for Congress to repeatedly raise the US debt ceiling. On the economy front, initial jobless claims in the period running from August 27 to September 2 surged by 62,000 and stood at 298,000, reaching the highest level since spring 2015. New claims count people who apply for unemployment benefits after losing their jobs. Many businesses were closed after Harvey flooded Houston and lots of people couldn't get to work, making them eligible for temporary financial help. The increase in new claims was the largest since November 2012 in the wake of Hurricane Sandy. The Dow Jones Industrial Average lost 22.86 points or 0.10 percent to 21,784.78, the S&P 500 edged lower by 0.44 points or 0.02 percent to 2,465.10, while the Nasdaq gained 4.56 points or 0.07 percent to 6,397.87.


Crude oil futures turned lower on Thursday, after data showed US supplies of crude oil rose for the first time in ten weeks, as several refinery shutdowns last week due to storm Harvey lowered demand for crude. Data from the US Energy Information Administration (EIA) showed that domestic crude supplies climbed by 4.6 million barrels for the week ended Sept. 1, offsetting recent optimism on oil prices which has seen crude futures settle higher for three-straight days. EIA data showed Gasoline inventories fell by roughly 3.2m barrels, while distillate stockpiles fell by 1.4m barrels, below expectations of a decline of 3m barrels. Benchmark crude oil futures for October delivery ended down by $0.07 or 0.1 percent to $49.09 on the New York Mercantile Exchange. In London, Brent crude for October delivery ended higher by 0.24 cent at $54.44 a barrel on the ICE.


Indian rupee, after making a good start, gave away most of its gains and concluded marginally higher against dollar on Thursday due to sustained selling of the US currency by exporters and banks. Investors took some support with the principal economic adviser in the finance ministry's statement that the government has dropped the idea of setting up a bad bank though solving NPA problem is the top priority for the government right now than consolidation as the government is keen on creating a long-term framework for strong and stable growth. The domestic unit also found support from dollar weakened overseas along with gains in the local equity markets. On the global front, dollar dropped against euro on Thursday as the eurozone economy's growth estimates were upwardly revised, with that data coming as investors wait to hear what the European Central Bank plans to do with its bond-buying program. Finally, the rupee ended at 64.04, 6 paise stronger from its previous close of 64.10 on Wednesday.


The FIIs as per Thursday's data were net sellers in equity segment, while they were net buyers in debt segment. In equity segment, the gross buying was of Rs 3059.67 crore against gross selling of Rs 4347.81 crore, while in the debt segment, the gross purchase was of Rs 1898.76 crore with gross sales of Rs 508.81 crore.


The US markets made mostly lower closing in the last session, the trade remained lackluster and the major averages spent the day bouncing back and forth across the unchanged line, on the heels of the European Central Bank's highly anticipated monetary policy announcement. The Asian markets have once again made a mixed start and some of the indices are down by over a quarter percent after ECB President Mario Draghi cautioned on the common currency's strength though didn't expand on any action to address it. The Japanese market was down as Japan's economy grew less than the government's preliminary estimate in the second quarter, weighed down by a revision in capital expenditure by companies. The Indian markets despite paring all the early gains made a flat closing in the last session, as geopolitical worries lingered and investors waited to hear comments from ECB President Mario Draghi on euro appreciation. Today, the start is likely to be cautious tailing the sluggishness in the regional peers. There will be buzz in the markets as the capital markets regulator, the Securities and Exchange Board of India (Sebi) has proposed compulsory physical settlement in stock derivatives contracts and has sought comments from market participants in a discussion paper, as it is concerned over the suitability of derivatives for retail investors. Meanwhile, industry body Assocham has suggested that Infrastructure and transportation such as road and railway sectors should continue to be exempted under the Goods and Services Tax (GST) regime, as withdrawal of exemption on existing projects will have a negative impact on business revenues. There will be some buzz in steel sector stock, as the Trump administration has said it will initiate new anti-dumping and countervailing duty probe to determine whether imports of stainless steel flanges from India and China are being dumped in the US.


Support and Resistance: NSE (Nifty) and BSE (Sensex)



Previous close



NSE Nifty




BSE Sensex





Nifty Top volumes




(in Lacs)

Previous close (Rs)

Support  (Rs)

Resistance (Rs)



























  • Airtel Business, the B2B arm of Bharti Airtel has launched Airtel GST Advantage - a solution specifically designed to enable small businesses and start-ups to file their GST returns accurately, securely and seamlessly.
  • Coal India's 89 projects are running behind schedule due to reasons such as delay in green clearances and law and order problems.
  • Tata Motors will commence bookings of its upcoming compact SUV 'Nexon' from September 11.
  • Wipro has won a five-year IT applications management contract from Outokumpu. Headquartered in Finland, Outokumpu is a global leader in stainless steel.
News Analysis