InvestorQ : What is your quick analysis on the stock markets for the 08th of September 2022?
Rashi Mehra made post

What is your quick analysis on the stock markets for the 08th of September 2022?

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diksha shah answered.
4 weeks ago
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Like Tuesday, even Wednesday was a very volatile day. On Wednesday, the Nifty opened deep in the red but quickly gained ground and remained marginally in the negative through the day. It closed the day about 31 points lower. Cement stocks held up the market as Shree Cements and Ultratech were among the top gaining commodity stocks.

In terms of the market structure, the advance decline ratio or the A/D ratio of the Nifty stocks was almost even stevens at 25:25. However, the Indian market did not really seem to react to the global tentativeness. The energy crisis in Europe remains an overhang but the impact on India is expected to be limited, even with the huge open derivative positions.

Foreign investors net bought Rs.758 crore of equities on Wednesday even as domestic funds and LIC sold stocks worth Rs.139 crore. FPI flows were positive in last 2 days, but the surge of August is missing. On Wednesday, Dow was up 436 points and NASDAQ gained 247 points. SGX Nifty is trading nearly 99 points higher in early trades and weak oil should help.

The markets are likely to take positive cues from the sharp rally in the Dow and NASDAQ on Wednesday. However, the real thrust could come from the Brent Crude prices falling to below $89/bbl and WTI to $83/bbl. That is likely to keep Indian markets buoyant, considering its 85% exposure to crude oil imports on a daily basis.

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