Asian Markets Update @ 7 am
SGX Nifty was trading lower by 83 points at 7 am, indicating a negative start for the Nifty 50 today. In Japan, the Nikkei 225 fell by 1.1%, while Hong Kong’s Hang Seng index slipped 1.7%.
Global Markets Update
U.S. stocks closed Tuesday’s session on a mixed note. The S&P 500 closed at a new 2022 low and the Dow Jones fell deeper into the bear market territory. The Dow Jones declined 0.4% and the S&P 500 lost 0.2%. However, the tech-focused Nasdaq was an outlier and closed yesterday’s session 0.2% higher. European markets also closed lower in the range of 0.5% to 0.7%.
Index Action
Nifty 50 @ 17,007 📉▼ 8 (-0.05%)
Nifty 50 extended the losing streak to the fifth day and closed Tuesday's highly volatile session flat. The index once again defended the psychologically crucial 17,000 mark and closed with the loss of 8 points.
Among sectors, Oil & Gas (+1.1%) and Pharma (+0.9%) advanced the most, while Metal (-0.8%) and Financial Services (-0.8%) were the top losers.
Nifty 50’s options contracts expiring on 29 September have sizable positions at 17,100 and 17,200 call options and 17,000 and 16,800 put options.
As per options data and OI analysis, the broad range for the Nifty 50 is between 16,500 and 17,800 levels, while 16,800 and 17,300 are the critical levels to watch for the current week.
BANK NIFTY @ 38,359 📉▼ 257 (-0.67%)
After a gap-up opening, Bank Nifty climbed the 39,000-mark. However, selling pressure at higher levels dragged the index down, and it closed yesterday's session below the psychologically crucial 38,500-mark.
Of the Bank Nifty's constituents, six stocks rose, while the other six closed lower. Federal Bank (+3.0%) and PNB (+1.9%) registered handsome gains, while Kotak Mahindra Bank (-1.6%) and SBI (-1.2%) came under selling pressure.
Bank Nifty’s options contracts expiring on 29 September have sizable positions at 39,000 and 40,000 call options and 38,000 and 38,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 37,500 and 39,200 levels, while 38,000 and 38,800 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹2,823 crore, while DIIs bought shares worth ₹3,504 crore. In the derivatives market, FIIs sold index futures worth ₹989 crore and bought index options worth ₹5,706 crore. Further, they bought stock futures worth ₹1,463 crore and sold stock options worth ₹197 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 1.4% to 21.57.
Stock Action📊
Long build-up was seen in Federal Bank, Mahanagar Gas, SBI Cards, Torrent Power and Hindustan Petroleum Corporation.
Short build-up was seen in Bharat Electronics , Ashok Leyland, Bharat Forge, Deepak Nitrite and SBI Life.
Under F&O Ban: Vodafone-Idea and Zee Entertainment.
*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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