INTERNATIONAL

Asia stocks traded mostly down Wednesday morning, with a combination of low oil prices, concerns over China
and weak overnight data weighing on investor sentiment. U.S. stocks closed lower Tuesday, as hopes of an oil
production cut were dashed and after a miss in the consumer confidence index. A sharp decline in oil and metal

prices dragged European equities into the red Tuesday, as investors digested the latest set of earnings
and data. Overnight comments from Saudi Arabia's oil minister, Ali bin Ibrahim Al-Naimi, dashed hopes
for a possible production cut to tackle the global supply glut and sent already low oil prices lower still.
U.S. crude oil futures for April delivery settled down $1.52, or 4.55 percent, at $31.87 a barrel, below Monday's
closing price of $33.39 a barrel but a touch above the final price on the March contract of $31.48 a barrel.

National
Nifty -- ended lower on Tuesday on account of sustained selling by fund and retail investors. Weakness in global
markets also weighted the sentiment. Sentiments remained weak since morning as Investors were jittery ahead of
the government's 2016/17 budget, which is due on February 29. Moreover, sentiments were under pressure on
report that exports of over half of the sectors, out of the 30 closely monitored by the Commerce Ministry, were in
the negative zone in January due to a fall in global prices and demand. Shares of oil marketing company were
down after the concerns that government may impose customs duty on crude oil imports in the forthcoming Union
Budget 2016-17. After cautious start, benchmark entered in to red and extended its losses to end near days low
with cut of over 120 points.
Nifty was down by 125.00 points or 1.73% to settle at 7,109.55. Nifty February 2016 futures closed 7113.10 on
Tuesday at a premium of 3.55 points over spot closing of 7,109.55, while Nifty March 2016 futures ended at
7132.70 at a premium of 23.15 points over spot closing. Nifty February futures saw contraction of 4.27 million (mn)
units, taking the total outstanding open interest (OI) to 14.33 million (mn) units.
The top gainers from the F&O segment were Reliance Communications, Syndicate Bank and JSW Steel. On the
other hand, the top losers were Hindustan Petroleum Corporation, DLF and Bank of Baroda. In the index options
segment, maximum OI was being seen in the 7100-8000 calls and 6800-7400 puts. Among Nifty calls, 7200 SP from
the January month expiry was the most active call with an addition of 2.76 million open interests. Among Nifty
puts, 7100 SP from the January month expiry was the most active put with an addition of 0.09 million open
interests. The maximum OI outstanding for Calls was at 7200 SP (6.80 mn) and that for Puts was at 7000 SP (5.18
mn).In yesterday's session, while the traders preferred to exit 7200 put, heavy buildup was seen in the 7050 put.
On the other hand, traders exited from 7350 Call, while 7200 call witnessed considerable OI addition. Nifty Put Call
Ratio (PCR) finally stood at 0.69 for January month contract.