Adani Portfolio companies complete ₹15,446 crore secondary equity transaction with #GQG Partners. SC names panel to review investor protection norms.
F&O data: FII Long: Short position at 14.80%:85.20%. Nifty PCR @ 0.91 Vs 0.92 previous. Banknifty PCR @ 0.76 Vs 1.14 previous. F&O data indicate highly oversold zone.
VIX @ 12.97: within comfortable range.
Approach on Indices: SGX Nifty indicate gap-up opening of around 100 points. Technical indicate mix pictures as indices continue to trade in narrow range. Nifty range 17325 – 17591 & Banknifty range seen at 39970 – 41567.
Market View: broad market continues to trade in narrow range as we see accumulation happening at lower level. We believe, its time to remain cautiously optimistic as March 2023 will focus around central bank’s action. Today positive opening cues comes from comment from Raphael Bostic – Atlanta Federal Reserve President.
SGX Nifty @ 17456.50 up 101.50 points at 8:40 AM