Asian Markets Update @ 8 am 🕗
SGX Nifty is trading lower by 25 points, signalling a negative start for the NIFTY 50 today. Major Asian markets are also trading lower. In Japan, the Nikkei 225 fell 0.1%, while Hong Kong’s Hang Seng index slipped 1.3%.
Global Markets Update
U.S markets closed lower on Friday and surrendered all their initial gains after fresh worries of an energy crisis in Europe raised global growth concerns. The Dow Jones fell 1.0%, while the tech-heavy Nasdaq slipped 1.3%. European markets closed higher in the range of +1.8% to +3.3%.
Index Action
NIFTY 50 @ 17,539 📉 ▼ 3 (-0.02%)
Amid weak global cues, NIFTY 50 closed Friday’s volatile session on a flat note. Among sectors, Financial Services (+0.5%) and Media (+0.5%) ended with gains, while Oil & Gas (-1.0%) and PSU Bank (-0.6%) came under selling pressure.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 17,500 and 18,000 call options and 16,000 and 16,500 put options.
NIFTY 50’s options contracts expiring on 8 September have sizable positions at 17,800 and 17,600 call options and 17,500 and 17,300 put options.
As per options data, the broad range for the NIFTY 50 is between 16,800 and 18,200 levels. Its immediate support is at 17,300 and resistance is at 17,800 levels.
BANK NIFTY @39,421 📈▲ 119 (+0.3%)
BANK NIFTY remained range-bound on Friday and ended the session with gains of 0.3%. Among stocks, HDFC Bank (+0.9%) and Kotak Mahindra Bank (+0.8%) were the top gainers, while Bank of Baroda (-1.7%) and PNB (-1.5%) were the top losers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 40,000 and 39,500 call options and 40,000 and 38,000 put options.
BANK NIFTY’s options contracts expiring on 8 September have sizable positions at 39,500 and 40,000 call options and 38,000 and 39,000 put options.
As per the options data, the broad range for the BANK NIFTY is between 37,800 and 40,400 levels. Its immediate support is at 38,800 and resistance is at 39,800 levels.
FII and DII Data**
In the cash market, FIIs were net sellers of ₹8 crore, while DIIs were net sellers of ₹668 crore. In the derivatives market, FIIs sold index futures worth ₹2,065 crore and bought index options worth ₹2,862 crore. Further, they sold stock futures worth ₹2,396 crore and sold stock options worth ₹219 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 1.6% to 19.55.
Stock Action📊
Long build-up was seen in Indiamart, Astral, Delta Corp, ITC and Bharat Electronics.
Short build-up was seen in Biocon, Tata Chemicals, Voltas, Honeywell Automation and Hindustan Petroleum Corporation.
Under F&O Ban: Delta Corp.
*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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