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Market Analysis

It was a day of heavy losses on Dalal Street. The Indian markets ended the day with sharp losses ahead of the F&O expiry tomorrow. This time the fall came with huge volumes. The total turnover surpassed Rs 2 lakh crores.

The BSE Sensex slipped 216.02 points or 1.07% to settle at 20,005.37 (Provisional) while the S&P CNX Nifty fell 75 points or 1.23% to end at 6,007.00.

The BSE Sensex touched a high and a low of 20,220.58 and 19,923.71 respectively. There were 7 advances against 22 declines while 1 stock remained unchanged on the index.

he Dalal Street witnessed sharp correction on Wednesday ahead of Thursday’s futures & options’ (F&O) series expiry. Global cues also remained weak during the trade today. Regional peers finished mostly lower while European bourses got off to a negative start.

Nifty Trend

The Nifty closed at 6082.Nifty future (Oct.) closed at 6108.25 i.e. at a premium of 26.25 vs. 30.40 points and shredded -1249100 shares in open interest.
The Nifty future (Nov.) closed at 6137.05 i.e. at a premium of 55.05 points vs. 56.55 points and added 3946150 shares in open interest.
Interpretation: The Nifty future prices ended in the red terrain along with an overall addition of open interest and increase in the cost of carry, this is an indication some longs at lower levels.

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