Asian Markets Update @ 7 am
The SGX Nifty is trading higher by 86 (+0.4%) points from its previous close, indicating a positive start for the Nifty50 today. Major Asian markets are trading in the green. Japan's Nikkei 225 gained 0.1%, while Hong Kong's Hang Seng index rose 0.6%.
Global Markets Update
US stocks fell on Monday after Treasury yields jumped as investors priced in the prospect of a more hawkish Federal Reserve after last week's hot jobs report.
The Dow Jones slipped 0.1%, while S&P 500 fell 0.6%. The technology-heavy Nasdaq Composite dipped 1.0%.
Index Action
Nifty50
February Futures: 17,795 📉▼107 (-0.6%)
OI Contracts: 2,07,015 (+3.2%)
Amid weak global cues and sustained selling by foreign portfolio investors, the Nifty50 opened lower and traded in a narrow range with a negative bias. It recovered from the 17,700 level in the second half of the session but ended the day 0.5% lower.
Among the major sectoral indices, Metal (-2.2%) and IT (-0.6%) declined the most. Media (+0.7%) and FMCG (+0.5%) were the top gainers.
The Nifty50 options contracts expiring on 9 February have significant positions at 18,000 and 18,500 calls and 17,500 and 17,600 puts.
As per options data and OI analysis, the broad range for the Nifty50’s February expiry is between 17,400 and 18,300 levels. On the other hand, 17,550 and 17,950 are the critical levels to watch for the current week.
Bank Nifty
February Futures: 41,485 📉▼153 (-0.3)
OI Contracts: 99,222 (+9.0%)
The Bank Nifty ended a dull day in the red, down 0.3%. Pressure from private banks offset gains in PSU banks and dragged the index below 41,500.
Among banking stocks, Bandhan Bank (+3.7%) and Bank of Baroda (+2.6%) were the top gainers, while Kotak Mahindra Bank (-1.8%) and ICICI Bank (-1.1%) were the biggest laggards.
The Bank Nifty’s options contracts expiring on 9 February have significant positions at 41,500 and 42,000 calls and 40,500 and 40,000 puts.
As per options data and OI analysis, the broad range for the Bank Nifty February expiry is between 40,100 and 42,600 levels. On the other hand, 40,600 and 42,100 are the critical levels to watch for the current week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹1,218 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹1,203 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹2,191 crore and bought index options worth ₹1,527 crore. Further, they sold stock futures worth ₹65 crore and bought stock options worth ₹34 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, rose 2.1% to 14.69.
Stock Action📊
Long build-up was seen in Navin Fluorine, Zydus Lifesciences, Marico, Indiamart Intermesh and M&M Financial Services.
Short build-up was seen in Indigo, Divi’s Lab, LIC Housing Finance, Intellect Design and Page Industries.
Under F&O Ban: Adani Ports.
*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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