Asian Markets Update @ 7 am
The SGX Nifty is trading 46 points (+0.2%) higher compared to its last close, indicating a flat to positive start for the Nifty50 today. Major Asian markets are trading mixed. Japan's Nikkei 225 is down 0.1%, while Hong Kong's Hang Seng is up by 0.2%.
Global Market Update
US equities ended mixed after the April consumer inflation cooled to its lowest annual rate in two years, whereas the core inflation, excluding food and energy prices, remained high. The Dow Jones fell by 0.09% to close at 33,531. Meanwhile, the S&P 500 gained 0.4% to settle at 4,137, and the Nasdaq Composite rose 1.0%, closing at 12,306.
Index Action
Nifty50
May Futures @ 18,342 📈▲36 (+0.2%)
OI Contracts: 2,22,713 (-1.0%)
The Nifty50 ended a volatile session in the green and settled above 18,300. The index fell to the 18,200 level but recovered lost ground. With gains in financial, oil & gas and auto stocks, the index ended near the day's high point.
Sectorally, Media (+1.3%) and Realty (+0.8%) were the top gainers, whereas PSU Bank (-1.0%) and Metal (-0.2%) were the laggards.
The Nifty50 options expiring on 11 May have significant positions at 18,500 and 18,400 calls and 18,200 and 18,300 puts.
According to options data and OI analysis, the Nifty50's long range for the 25th May expiry is between 18,000 and 18,600. On the other hand, 18,200 and 18,400 is the short-term range for this week.
Bank Nifty
May Futures @43,315 📈▲112 (+0.2%)
OI Contracts: 86,696 (-3.3%)
The Bank Nifty ended above 43,300, with gains of nearly a third of a per cent. While PSU Banks continue to face pressure, gains in large private banks led the banking index higher.
Among banking stocks, IndusInd Bank (+2.8%) and Bandhan Bank were the top gainers, while Punjab National Bank (-3.4%) and AU Small Finance Bank (-1.0%) were the laggards.
The Bank Nifty's options expiring on 11 May have significant positions at the 43,500 and 44,000 calls and 43,000 and 43,200 puts.
According to options data and OI analysis, Bank Nifty's range for the 25th May expiry is between 42,300 and 44,200. On the other hand, 43,000 and 43,600 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹1,833 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹789 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹320 crore and index options worth ₹2,611 crore. Further, they bought stock futures worth ₹123 crore and stock options worth ₹202 crore.
India VIX
Ahead of the US inflation data, the fear gauge India VIX rose 3.1% to 13.08.
Stock Action📊
Long build-up was seen in Indraprastha Gas, Siemens, India Cements, Divi's Lab and IndusInd Bank.
Short build-up was seen in Aarti Industries, Punjab National Bank, UPL, Power Finance and Abbott India.
Under F&O Ban: BHEL, Canara Bank, GNFC and Manappuram Finance.
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