Index Action
Nifty50
Tracking positive global cues, the Nifty50 started the session higher but failed to sustain 16700 levels. Amid heightened volatility, it pared its early gains and was trading 32 points higher at 16,638.
For March 3 options contracts, the Nifty50 has sizable positions at 16,800 and 16,700 call options and 16,500 and 16,600 put options. Further, additions were seen in both 16,700 call options and 16,500 put options.
The Nifty50's immediate support is at 16,300 and resistance is at 17,000 levels.
Bank Nifty
The Bank Nifty continued to witness weakness and dropped to 35,100 levels. The breadth of the banking stocks remains even, with six stocks advancing and six stocks declining. At 12 pm today, it was trading 111 points lower at 35,261.
For March 3 options contracts, the Bank Nifty has sizable positions at 35,500 and 36,000 call options and 35,000 and 34,500 put options. Further additions were seen in 35,500 call options and 35,000 put options.
The Bank Nifty's immediate support is at 34,800 and resistance is at 36,200 levels.
Stock Action
Today’s top gainers are Balrampur Chini, Persistent, Coal India, Hindustan Copper and Indian Hotels.
Today’s top losers are United Breweries, Gujarat Gas, Asian Paints, Indigo and Ambuja Cements.
Sector Update
Among the sectors, IT and Oil & Gas were the leading gainers. Stocks like Wipro, Coforge, Tech Mahindra, GAIL and IOC are trading in the green.
The Auto and FMCG sectors slipped into red. Stocks like Ashok Leyland, Maruti Suzuki, Bajaj Auto, Godrej Consumer and HUL are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their Futures are trading flat to positive in the range of -0.03% to +1.6%. US Futures are trading higher, up by 0.2%.
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