Asian Markets Update @ 7 am
The SGX Nifty is trading higher by 10 (-0.06%) points from its previous close, indicating a flat start for the Nifty50 today. Major Asian markets are trading in the red. Japan's Nikkei 225 fell 0.3%, while Hong Kong's Hang Seng index dropped 0.1%.
Global Markets Update
US stocks closed lower after a slump in Google's parent company Alphabet and a series of hawkish comments from Federal Reserve officials dampened sentiment.
The Dow Jones fell 0.6%, while S&P 500 dropped 1.1%. The technology-heavy Nasdaq Composite slipped 1.6%.
Index Action
Nifty50
February Futures: 17,908 📈▲126 (+0.7%)
OI Contracts: 2,01,919 (-4.0%)
After the RBI's rate hike decision, the Nifty50 built on a positive start and surged to the 17,900 level. With gains across sectors, the index closed near the day's high with a gain of 0.8%.
All major sector indices closed in green, with metals (+3.7%) and IT (+1.5%) being the strongest performers.
The Nifty50 options contracts expiring on 9 February have significant positions at 18,000 and 17,900 calls and 17,800 and 17,700 puts.
As per options data and OI analysis, the broad range for the Nifty50’s February expiry is between 17,550 and 18,250 levels. On the other hand, 17,700 and 18,000 are the critical levels to watch for the current week.
Bank Nifty
February Futures: 41,653 📈▲11 (+0.03%)
OI Contracts: 97,017 (+2.0%)
The Bank Nifty crossed its 20-EMA of 41,700 but failed to hold at higher levels. It rebounded from the 41,400 level to end the day on a positive note.
Among banking stocks, Bandhan Bank (+1.7%) and ICICI Bank (+0.7%) were the top gainers, while Axis Bank (-0.8%) and IDFC First Bank (-0.6%) 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 41,500 and 41,000 puts.
As per options data and OI analysis, the broad range for the Bank Nifty February expiry is between 40,300 and 42,700 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 ₹736 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹941 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹1,265 crore and sold index options worth ₹6,892 crore. Further, they bought stock futures worth ₹1,924 crore and sold stock options worth ₹604 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, fell 3.7% to 13.60.
Stock Action📊
Long build-up was seen in Alkem Labs, Info Edge, Coforge, Cummins India and L&T Finance Holdings.
Short build-up was seen in ONGC, Hero MotoCorp, Crompton, Bharti Airtel and Tata Consumer.
Under F&O Ban: Ambuja Cement and Indiabulls Housing Finance.
*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