Asian Markets Update @ 7:30 am
SGX NIFTY was trading lower by 133 points at 7 am, signalling a negative start for the NIFTY 50 today. Major Asian markets were also trading lower. In Japan, the Nikkei 225 fell 1.1%, while Hong Kong's Hang Seng index slipped 1.8%.
Global Markets Update
U.S. markets ended Wednesday's choppy session lower. This comes after the U.S. Federal Reserve increased the interest rates by 0.75% for the third time in a row. Currently, the interest rate in the U.S. stands at 3.25%. The U.S Fed also signalled that they will increase the interest rates to 4.4% by the end of this year and 4.6% by the end of 2023.
The Dow Jones tumbled 1.7% to 30,183, and the tech-heavy Nasdaq also declined 1.7% and closed yesterday's session at 11,220. Yesterday, European markets closed higher in the range of 0.6% to 0.7%.
Index Action
NIFTY 50 @ 17,718 📉▼ 97 (-0.5%)
NIFTY 50 ended its two-day winning streak and closed Wednesday’s volatile trading session lower. Major sectoral indices ended in the red, with Metal (-2.0%) and Pharma (-1.3%) being the top losers. FMCG remained steady and closed in the green with gains of more than 1%.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 18,500 call options and 17,500 and 17,000 put options.
NIFTY 50’s options contracts expiring on 22 September have sizable positions at 18,000 and 17,900 call options and 17,500 and 17,400 put options.
As per options data, the broad range for the NIFTY 50 is between 17,000 and 18,600 levels. Its immediate support is at 17,500 and resistance is at 17,900 levels.
BANK NIFTY @ 41,203 📉▼ 264 (-0.6%)
BANK NIFTY remained under pressure and ended Wednesday's trading session 0.5% lower. All the twelve stocks of the banking index closed in the red, with IndusInd Bank (-3.1%) and Bandhan Bank (-1.4%) being the top losers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 42,000 and 41,500 call options and 39,500 and 40,000 put options.
BANK NIFTY’s options contracts expiring on 22 September have sizable positions at 42,000 and 41,500 call options and 40,000 and 41,000 put options.
As per the options data, the broad range for the BANK NIFTY is between 39,900 and 42,200 levels. Its immediate support is at 40,800 and resistance is at 41,800 levels.
FII and DII Data**
In the cash market, FIIs sold shares worth ₹461 crore, while DIIs bought shares worth ₹538 crore. In the derivatives market, FIIs sold index futures worth ₹1,092 crore and bought index options worth ₹2,931 crore. Further, they sold stock futures worth ₹1,452 crore and sold stock options worth ₹163 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 2.8% to 19.33.
Stock Action📊
Long build-up was seen in City Union Bank, ITC, Cummins India, Aditya Birla Fashion and Retail Ltd and Trent.
Short build-up was seen in Mahanagar Gas, Shree Cement, Indiabulls Housing Finance, Balrampur Chini Mills and Adani Enterprises.
Under F&O Ban: Ambuja Cements, Can Fin Homes, Delta Corp, Escorts, PVR and RBL Bank.
*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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