Nifty 50 ends August series over 3% higher; heres what to expect in September series
Nifty 50 ends August series over 3% higher; heres what to expect in September series
The Nifty50 benchmark finished the August derivatives (futures & options) series with a gain of 785.85 pts or 3.06 per cent. The exorbitant gains have been seen as Nifty continues to hit new highs after the August 5 global sell-off as the latest Fed Powell's cemented rate cut hopes. The rate cut in the economy bodes well for emerging economies as it catalyses fund inflow into emerging markets then.
FIIs have so far during the August series offloaded Rs 1,801 crore in the futures segment. While, in the options segment, they net bought in equities worth Rs 87,864.84 crore.
Even though market analysts remain optimistic on the India growth story, stretched valuations are likely to weigh. Nifty ended the August series at 25,152, up 0.4 per cent, after clinging a fresh record high of 25,192.9 earlier on the last trading session today.
Pertinently, in August, Nifty witnessed the second highest gains after the June series wherein gains were to the tune of 1,555 points.
Bank Nifty posted a unique trend and saw second consecutive month of losses after March 2023.
Furthermore, Nifty August series saw OI change at 17.25 per cent, adding 10.07 lakh shares.\
Here's what the sectoral gauges look like in the August F&O series:
|
Index |
Change in August series (%) |
|
Nifty50 |
-7.1 |
|
Nifty Metal |
-0.85 |
|
Nifty Realty |
-5.36 |
|
Nifty Media |
-0.05 |
|
Nifty IT |
4.34 |
|
Nifty PSU Bank |
-6.32 |
|
Nifty Pharma |
5.55 |
|
Nifty Bank |
-0.49 |
|
Nifty Financial Services |
1.14 |
|
Nifty Auto |
-1.54 |
|
Nifty FMCG |
1 |
|
Gainers |
Return |
|
Trent |
+35% |
|
Balrampur Chini Mills |
+29.4% |
|
Granules India |
+27.8% |
|
Voltas |
+22.4% |
|
Lupin |
+21.8% |
|
Losers |
Return |
|
LIC Housing Finance |
-11.8% |
|
Astral |
-11.2% |
|
ACC |
-10.4% |
|
Balkrishna Industries |
-9.8% |
|
Shree Cement |
-9.7% |
Septembert Series Historic Movement
|
Year |
Nifty Movement |
|
2023 |
+0.56% |
|
2022 |
-4.4% |
|
2021 |
+5.8% |
|
2020 |
-6.5% |
|
2019 |
+5.2% |
|
2018 |
-6.4% |
|
2017 |
-2% |
|
2016 |
-0.6% |
|
2015 |
-1.5% |
|
2014 |
-1.05% |
Reasons for Movements in Nifty in September Series
2023
the global markets extended weakness on worries over higher interest rates and crude prices
Heavy selling in HDFC shares
2022
RBI raises key lending to 5.4% on 5th August and also on 30th September raised lending rate further to 3 year high of 5.9% which has caused concern in the markets
2021
Indian market has shown renewed buying after the Government guarantee Rs 30,600 crore to back Security Receipts issued by National Asset Reconstruction Company (NARCL) for acquiring stressed loan assets of about 2 lakh crores in phases within regulations of RBI
2020
Markets hit by fear of re-imposition of lockdown Due to second wave of COVID in Europe and other countries
2019
The Indian market gained after sharp cuts in corporate taxes by the government.
Domestic Companies tax rate cut to 22% from 30%
New Domestic Companies: Tax rate cut to 15% from 25%
2018
Goldman Sachs downgrade Indian market from overweight to market weight due to higher valuations, multiple macro headwinds and election event risk.
Trade war between the US & China create a fear, US could announce a new round of tariffs on Chinese import
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