Asian Markets Update 7 am
The SGX Nifty is trading in the green, up by 87 points. Major Asian markets are trading mixed. Japan’s Nikkei rose 1.7% and Hong Kong’s Hang Seng index dropped 0.4%.
Global Markets Update
The U.S. markets closed higher on Thursday, with tech stocks leading the charge and a strong earnings report from Facebook parent company Meta Platforms. The Dow Jones jumped 1.8%, and the Nasdaq rose 3%. European markets ended higher in the range of 1% to +1.3%.
Stock Action
Long build-up was seen in Coromandel, JSW Steel, NTPC, MCX and Hindustan Unilever.
Short build-up was seen in Dr. Lal Pathlabs, Atul Ltd, IEX, Hindalco and Bajaj Auto.
Major companies announcing results today are Can Fin Homes, IndusInd Bank, L&T Housing Finance, Maruti Suzuki, SBI Cards and Wipro.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
The FIIs were net buyers of ₹743 crore in the cash market, while DIIs were net buyers of ₹780 crore. FIIs bought index futures worth ₹703 crore in the derivatives market and sold index options worth ₹12,521 crore. Further, they bought stock futures worth ₹2,183 crore and sold stock options worth ₹12 crore.
Index Action
Nifty50
After a choppy start, the Nifty50 staged a strong comeback and closed the day more than 1% higher. Powered by broad-based gains across sectors and FIIs turning net buyers after 15 trading sessions, the Nifty50 rose 206 points to 17,245.
The India VIX dropped 5.9% to 19.37.
The Nifty50’s options contracts 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 options contracts 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 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 also had a strong closing of more than 1% and traded in line with the Nifty50. With a strong breadth of 9 advances to 3 declines, the Bank Nifty jumped 393 points to 36,422.
The Bank Nifty’s options contracts 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 options contracts 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.
*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with an increase in price, and short build-up means an increase in Open Interest (OI) along with a decrease in price.
**Source: nseindia.com. Cash market figures are provisional.
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