Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 11 points at 7:30 am, indicating a flat to negative start for the Nifty50 today. Major Asian markets were trading on a flat note. The Nikkei 225 in Japan was also trading flat at 0.0%, while Hong Kong’s Hang Seng index lost 1.0%.
Global Markets Update
Ahead of the U.S Fed’s interest rates decision today, U.S. stocks erased early gains and closed lower on Tuesday. All three major indices turned in red after job openings rose in September from 10.7 million to 10.28 million last month.
The Dow Jones fell 0.2% to 32,653, while S&P 500 lost 0.4% and closed yesterday’s session at 3,856. The tech-heavy Nasdaq Composite declined 0.8% to 10,890. The European markets closed higher in the range of 0.6% to 1.2%.
Index Action
Nifty50 @ 18,145 📈▲ 133 (+0.7%)
The Nifty50 index extended the upward march for the fourth consecutive day and closed at a 9-month high. Among major sectoral indices, Metal (+2.3%) and Pharma (+2.1%) gained the most, while PSU Bank (-0.6%) and Media (-0.2%) declined the most.
Nifty50’s options contracts expiring on 3 November have sizable positions at 18,200 and 18,400 call options and 18,000 and 18,100 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,500 and 18,600 levels. On the other hand, 17,800 and 18,300 are the critical levels to watch for next week.
Bank Nifty @ 41,289 📉▼ 18 (-0.04%)
The Bank Nifty index witnessed selling pressure near the day’s high and failed to close above the 41,500 mark.Among stocks, AU Small Finance Bank (+4.0%) and HDFC Bank (+1.1%) were among the performers, while Punjab National Bank (-5.9%) and Axis Bank (-3.7%) declined the most.
Bank Nifty’s options contracts expiring on 3 November have sizable positions at 42,000 and 41,500 call options and 41,000 and 40,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 40,500 and 42,200 levels. On the other hand 41,000 and 41,700 are the critical levels to watch for the next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹2,609 crore, while DIIs sold shares worth ₹730 crore. In the derivatives market, FIIs bought index futures worth ₹948 crore and bought index options worth ₹10,957 crore. Further, they bought stock futures worth ₹854 and sold stock options worth ₹62 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 2.0% to 16.13.
Stock Action📊
Long build-up was seen in Alkem Labs, Torrent Pharma, NTPC, JK Cement and Vedanta.
Short build-up was seen in M&M Financial Services, Axis Bank, Intellect Design, Bandhan Bank and Punjab National Bank.
Key results today: Dalmia Bharat, First Source Ltd and M&M Financial Services.
Under F&O Ban: Punjab National 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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