Global markets update
The SGX Nifty is trading in the red, down by 109 points. Major Asian markets are trading mixed. In Japan, the Nikkei rose 0.1% and Hong Kong’s Hang Seng index fell 0.9% at 7 am India time.
The US markets gave up opening gains and ended the day marginally higher. The Dow Jones rose 0.05%, while the Nasdaq climbed 0.4%. European markets closed higher in the range of +1% to +1.3%.
Stock action
Long build-up was seen in Coromandel, Rain Industries, RBL Bank, ICICI Prudential and GNFC.
Short build-up was seen in Metropolis, Deepak Nitrite, Coforge, Grasim and Shree Cement.
F&O stocks in ban
Stocks in ban: N/A
Stocks added: N/A
Stocks out of ban: N/A
FII/DII activity**
In the cash market, FIIs were net sellers of ₹2,397 crore, while DIIs were net buyers of ₹1,940 crore. In the derivatives market, FIIs sold index futures worth ₹417 crore and sold index options worth ₹2,869 crore. Further, they bought stock futures worth ₹2,273 crore and sold stock options worth ₹78 crore.
Index action
Nifty50
The Nifty50 ended the day with marginal losses as investors remained cautious ahead of the RBI’s policy announcement later this week. Metal and oil & gas stocks advanced, while realty and IT stocks remained under pressure. The Nifty50 closed at 16,569, down by 14 points.
The India VIX climbed 1.1% to 20.20.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 9 June have sizable positions at 16,800 and 17,000 call options and 16,300 and 16,500 put options.
As per options data, the broad range for the Nifty50 is between 15,700 and 17,500 levels. Its immediate support is at 16,400 and resistance is at 16,900 levels.
Bank Nifty
The Bank Nifty recovered its opening losses and ended the day marginally higher. Gains in select private Banks pushed the index higher, while the PSU banks remained under pressure. The Bank Nifty ended the day 35 points higher at 35,310.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 35,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 9 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,400 and 36,600 levels. Its immediate support is at 34,900 and resistance is at 36,000 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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