F&O Market Recap for 31 March 2022

Index Action 

Nifty50

Amid negative global cues, the Nifty50 had a positive opening and traded in a range. Losses in IT and pharma stocks dragged the index lower, while FMCG and auto stocks lent support. With 30 out of 50 stocks closing in red, the Nifty50 ended the last day of the financial year 33 points lower at 17,464.

The Nifty50’s monthly options expiring on April 28 are scattered and have sizable positions at 17,500 and 18,000 call options and 17,500 and 16,000 put options. 

The Nifty50’s weekly options expiring on April 7 have sizable positions at 17,500 and 17,600 call options and 17,500 and 17,400 put options. 

As per options data, the broad range for the Nifty50 is between 16,500 and 18,200 levels. Its immediate support is at 17,100 and resistance is at 17,700 levels.

Bank Nifty

After a positive start, the Bank Nifty slipped into negative territory. Fall in heavyweights like HDFC Bank and SBI dragged the index lower, but a positive breadth of 7 advances to 5 declines helped it close higher. The Bank Nifty rose 39 points to close at 36,373.

The Bank Nifty’s monthly options expiring on April 28 are scattered and have sizable positions at 36,500 and 38,000 call options and 36,000 and 35,000 put options. 

The Bank Nifty’s monthly options expiring on April 7 have sizable positions at 36,500 and 37,500 call options and 36,000 and 35,000 put options. 

As per options data, the broad range for the Bank Nifty is between 35,000 and 37,700 levels. Its immediate support is at 35,700 and resistance is at 37,000 levels. 

Stock Action

Top gainers: HAL, Tata Communications, Escorts, NALCO and United Breweries. 

Top losers: Hindalco, Vodafone-Idea, Strides Pharma, Divi's Laboratories and Zee Entertainment. 

Sector Update 

Among sectors, FMCG and Media indices witnessed buying interest. Stocks like Marico, United Breweries, Godrej Consumer, PVR and Sun TV closed in green.

The Pharma and IT indices came under selling pressure. Stocks like Divi's Laboratories, Strides Pharma, Biocon, LTI and Mindtree closed in the red.

Major News 

The housing sales saw a 7% year-on-year jump to 70,623 units from January to March period across 8 cities, according to real estate consultancy firm PropTiger. In its report, the firm said, while housing sales went up in Mumbai, Pune and Bengaluru, the sales declined in Delhi-NCR, Chennai, Hyderabad and Kolkata.