Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 13 points at 7:30 am, indicating a flat to positive start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan slipped 0.6% while Hong Kong’s Hang Seng index rose 2.4%.
Global Markets Update
Amid hopes of a less hawkish stance by the Fed and a rebound in Tech stocks, U.S. markets moved higher and ended in the green.
The Dow Jones rose 0.1% to 33,747, while the S&P 500 climbed 0.9% to close at 3,992. The tech-focused Nasdaq Composite rose 1.8% and closed at 11,323. The European markets closed Friday’s session on a mixed note, in the range of -0.7% to +0.5%.
Index Action
Nifty50 @ 18,349 📈▲ 321 (+1.7%)
Amid strong global cues and on-going FII buying, the Nifty50 zoomed higher and closed above 18,300. Among major sectoral indices, IT (+3.8%) and Financial Services (+2.1%) were the top gainers while PSU Bank (-0.6%) and Auto (-0.3%) were the top losers.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,300 and 19,000 call options and 17,000 and 18,000 put options.
Nifty50’s options contracts expiring on 17 November have sizable positions at 18,500 and 18,700 call options and 18,000 and 18,300 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,700 and 18,700 levels. On the other hand, 18,000 and 18,500 are the critical levels to watch for next week.
Bank Nifty @ 42,137 📈▲ 533 (+1.2%)
The Bank Nifty hit a new all-time high and despite profit-booking at higher levels it settled above 42,100. Among stocks, HDFC Bank (+5.6%) and Bandhan Bank (+1.9%) advanced the most, while Bank of Baroda (-2.2%) and Federal Bank (-2.1%) declined the most.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,000 and 43,000 call options and 40,000 and 41,500 put options.
Bank Nifty’s options contracts expiring on 17 November have sizable positions at 42,000 and 42,200 call options and 42,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 43,000 levels. On the other hand 41,500 and 42,500 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹3,958 crore, while DIIs bought shares worth ₹615 crore. In the derivatives market, FIIs bought index futures worth ₹2,981 crore and bought index options worth ₹3,004 crore. Further, they bought stock futures worth ₹149 and sold stock options worth ₹45 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 7.4% to 14.41.
Stock Action📊
Long build-up was seen in Persistent, Coforge, Ashok Leyland, HDFC Bank and Apollo Hospitals.
Short build-up was seen in GNFC, Eicher Motors, Indian Hotels, Ipca Labs and Chambal Fertilisers.
Key results today: Abbott India, Balkrishna Industries, Bharat Forge, Biocon, Grasim, Indiabulls Housing Finance and IRCTC.
Under F&O Ban: GNFC and PNB
*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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