Stocks of paper manufacturing companies continue its second-day rally after the shutdown of pulp making factories in China. As China has stopped manufacturing its own pulp, which in turn has raised pulp prices, this makes importing paper costly for India; hence it augurs well for stock of Indian companies. Star Paper mills zoomed by 20%, Ruchira Papers gained by 13.39%, Seshasayee Paper was up by 7.17%. FMCG Food was also on a move yesterday. Prabhat Dairy was up by 20%.
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The Indian Benchmark Index Nifty has gained by 0.55% yesterday. The Index opened at 10311, made a high of 10329 and closed at 10322. The Cash Market Benchmark Index Small Cap was also up by 0.41% last day.
Nifty Future is opening gap- down by 7 points against yesterday close of 10346 as indicated by SGX Nifty which is currently trading at 10338.
NIFTY OUTLOOK & OPEN INTEREST IN INDEX OPTION
PRO has a combine short position of 266058 contracts in Index Options. However, in last 2 days, they have reduced the short position of 248698 contracts.
Cash Market Data
In last 10 days, FII and DII in combined have sold stocks worth Rs. 154.15 Crore in cash segment.
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