F&O Market Recap for 28 April 2022

Index Action 

Nifty50

The Nifty50 shrugged off yesterday’s weakness and rose to 17,300 levels, led by FMCG and oil & gas stocks. Gripped by high volatility, the headline index closed the April F&O expiry day 206 points higher to 17,245.

The Nifty50’s monthly options expiring on May 26 are scattered and have sizable positions at 18,000 and 17,500 call options and 16,000 and 16,500 put options. 

The Nifty50’s weekly options expiring on May 5 have sizable positions at 18,000 and 17,300 call options and 17,000 and 16,900 put options. 

As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,900 and resistance is at 17,500 levels.

Bank Nifty

The Bank Nifty witnessed buying interest at lower levels and surged to the 36,500 mark. Riding on investor appetite in big movers such as ICICI Bank, SBI and Kotak Mahindra Bank, the Bank Nifty rose 393 points to 36,422.

The Bank Nifty’s monthly options expiring on May 26 are scattered and have sizable positions at 38,000 and 39,000 call options and 36,000 and 35,000 put options. 

The Bank Nifty’s weekly options expiring on May 5 have sizable positions at 37,000 and 36,500 call options and 36,000 and 35,500 put options. 

As per the options data, the broad range for the Bank Nifty is between 35,000 and 37,800 levels. Its immediate support is at 35,600 and resistance is at 37,200 levels. 

Stock Action

Today’s top gainers were Coromandel, Indian Hotels, Hindustan Unilever, JK Cement and Persistent. 

Today's top losers were Dr. Lal Pathlabs, Balkrishna Industries, Laurus Labs, IEX and Bajaj Auto. 

Sector Update 

Among major sectoral indices, the FMCG and Oil & Gas were the top gainers. Stocks like Hindustan Unilever, United Breweries, Marico, Indian Oil Corporation and Reliance Industries closed in green.

The Media sector came under selling pressure. Stocks like Sun TV and TV18 closed in red.

Major News 

The telecom minister Ashwini Vaishnaw said that the government is likely to hold the 5G spectrum auctions in early June. He said that the Department of Telecom is working as per the expected timeline, and the process is on to resolve the industry concerns.