Global Markets Update
The SGX Nifty is trading in the green, up by 145 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 0.3% and Hong Kong’s Hang Seng index climbed 0.2% at 7 am India time.
The US markets ended higher following the release of the Fed minutes, revealing a broader consensus of a 50 bps hike in June and July. The Dow Jones rose 0.6%, while the Nasdaq climbed 1.5%. European markets closed higher in the range of 0.5% to 0.7%.
Stock Action
Long build-up was seen in CONCOR, Kotak Mahindra Bank, HDFC Life and SBI Life.
Short build-up was seen in Asian Paints, M&M, Berger Paints, Tech Mahindra and Deepak Nitrite.
Major companies announcing results today are Berger Paints, Colgate-Palmolive, Cummins India, Hindalco, Motherson Sumi, NMDC, Oberoi Realty and Zee Entertainment.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban: Indiabulls Housing Finance
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,803 crore, while DIIs were net buyers of ₹2,229 crore. In the derivatives market, FIIs bought index futures worth ₹1,158 crore and sold index options worth ₹1,879 crore. Further, they bought stock futures worth ₹164 crore and bought stock options worth ₹124 crore.
Index Action
Nifty50
Amid volatility, the Nifty50 index faced resistance near the 16,200-mark and ended the day in the red. Among sectoral indices, Financial service and Nifty Bank registered gains, while IT and Realty came under selling pressure. The Nifty50 fell 99 points to 16,025.
The India VIX slipped 1.3% to 25.28.
The Nifty50’s options contracts expiring on 26 May have sizable positions at 16,200 and 16,400 call options and 16,000 and 15,800 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 16,800 levels. Its immediate support is at 15,800 and resistance is at 16,300 levels.
Bank Nifty
The Bank Nifty outperformed the broader market for the second consecutive day and closed in the green. Aided by gains in leading private banks, the Bank Nifty shut shop at 34,339, up 49 points.
The Bank Nifty’s options contracts expiring on 26 May have sizable positions at 35,000 and 34,500 call options and 34,000 and 33,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,000 and 35,500 levels. Its immediate support is at 33,900 and resistance is at 35,000 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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