Asian Markets Update @ 7 am
The SGX Nifty is trading 77 (+0.4%) points higher than its last close, indicating a positive start for the Nifty50 today. Major Asian markets are trading mixed. Japan's Nikkei 225 is flat, up 0.05%, while Hong Kong's Hang Seng Index is down 0.2%.
Global Markets Update
US stocks closed higher on Thursday after US GDP rose at a 2.9% annualised pace in the fourth quarter, slightly better than expected.
The Dow Jones Industrial Average added by 0.6%, while S&P 500 jumped 1.1%. The technology-heavy Nasdaq Composite rose by 1.8%, led by a more than 10% jump from Tesla.
Index Action
Nifty50
January Futures: 17,988📉▼224 (1.2%)
OI Contracts: 1,97,412 (+52.5%)
Ahead of the move to T+1 settlement and the presentation of this year's Union Budget, the Nifty50 plunged over one percent to close below the 18,000-mark. The headline index slipped to 17,850 levels as all sectors came under pressure with the investors favouring to keep their holdings light ahead of key events.
All the major sectoral indices ended in red, with PSU Bank (-3.5%) and private bank (-2.3%) declining the most.
Nifty50’s options contracts expiring on 2 February have sizable positions at 18,000 and 18,200 call options and 18,000 and 17,500 put options.
As per options data and OI analysis, the broad range for the February monthly expiry is between 17,000 and 18,600 levels. On the other hand, 17,700 and 18,100 are the critical levels to watch for the current week.
Bank Nifty
January Futures: 41,872 📉▼ 1,063 (2.4%)
OI Contracts: 24,649 (+47.5%)
After a flat start, the Bank Nifty plunged over 1,000 points to 41,550 on Wednesday to close 2.5% lower. The index was one of the worst-performing sectors of the day as all 12 stocks of the banking pack ended in the red. IndusInd Bank (-4.6%) and Bank of Baroda (-4.6%) were the worst hit.
Bank Nifty’s options contracts expiring on 2 February have sizable positions at 42,000 and 42,500 call options and 42,000 and 41,000 put options.
As per options data and OI analysis, the broad range for the February monthly expiry is between 40,600 and 43,000 levels. On the other hand, 41,100 and 42,000 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹2,393 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹1,378 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹3,615 crore and bought index options worth ₹23,035 crore. Further, they sold stock futures worth ₹568 crore and bought stock options worth ₹281 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, surged 7.3% to 14.66.
Stock Action📊
Long build-up was seen in Bajaj Auto, Tata Steel, TVS Motor, Hindalco and Trent.
Short build-up was seen in Ambuja Cements, ACC, Adani Enterprises, Granules and Indus Towers.
*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.
Download the Upstox App Today