IGI Logo

This month, US key indices witnessed a mixed trend. Failing to surpass levels of $2500, US Gold slipped below levels of $2400, while US Silver stayed weak for the consecutive month. Erasing prior month’s partial gain, Brent crude revisited levels of 80. Dollar index failed to cling on to higher levels, hovering near levels of 104.

July series highlight a) Nifty settled July series marginally up (+1.5%); it scaled record highs above 24800, but on the flip side, it defended levels of 24200 for the better part of the month b) On the back of 10% gains in June series, IT index again stood out as an out-performer (+11%). c) Continuing its northbound voyage in uncharted zone, FMCG index was steady (+10%). d) Pharma and Oil&Gas indices maintained their uptrend (+8%). e) Snapping five series’ winning streak, Metal index lost ~6%. f) Post five series’ up move, heavy weight BankNifty took a pause (-3.6%)

Nifty’s rollovers stood at ~70% (~1.38cr OI) vs 76% (~1.51cr OI) of the prior month. Nifty’ OI base has decreased by 9%. During the month, FIIs were aggressively net long on index futures by ~3.9lakh contracts, although in the recent past FIIs’ unwinded longs and added shorts; currently they are net buyers on index future by ~62k contracts.

Please refer disclaimer at https://yesinvest.in/privacy_policy_disclaimers
SEBI Registration number is INZ000185632