Asian Markets Update 7 am
Indian equities may start the day flat to negative, as indicated by the GIFT Nifty. The futures contract on the NSE International Exchange (NSE IX) is trading 22 (-0.7%) points lower. Its Asian peers are trading mixed. The Nikkei 225 declined 0.6%, while Hong Kong’s Hang Seng index gained 1.6%.
US market update
US markets ended lower as investors weighed weaker monthly jobs reports for June. Dow Jones declined 0.5% while NASDAQ slipped 0.1%.
Index Action
Nifty50
July Futures @ 19,391 📉▼144 (+0.9%)
OI Contracts: 2,09,636 (-5.6%)
The Nifty50 halted its eight day winning streak and fell more than three quarters of a percent. The index slipped from a higher level of 19,500 and the weekly call options witnessed open interest addition at 19,500 and 19,400 strikes. With a majority of the sectoral indices ending in red, the index fell to and closed near 19,300. Investors will watch out for the earnings announcements that start this week with some of the IT majors.
The Nifty50 options expiring on 13 July have significant positions at 19,400 and 19,500 calls and 19,400 and 19,300 puts.
According to options data and OI analysis, the Nifty50's range for the 27th July expiry is between 18,800 and 19,700 levels. On the other hand, 19,100 and 19,500 are the immediate support and resistance levels for this week.
Bank Nifty
July Futures @ 45,003 📉▼408 (-0.9%)
OI Contracts: 1,83,867 (-4.4%)
Bank Nifty nearly a percent and settled below the 45,000 mark. Sharp dips in the private banks lead the fall in the index whereas gains in PSU banks provided support.
Among banking index stocks, Punjab National Bank (+2.3%) and Bank of Baroda (+1.7%) were the top gainers. IndusInd Bank (-2.3%) and AU Small Finance Bank (-3.5%) were the top laggards.
The Bank Nifty's options expiring on 13 July have significant positions at the 45,000 and 45,300 calls and 45,000 and 44,700 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th July expiry is between 44,000 and 46,000. On the other hand, 44,400 and 45,400 are the immediate support and resistance levels for this week.
FII and DII Data💰
In the cash market, the Foreign Institutional Investors (FIIs) bought shares worth ₹790 crore, while the Domestic Institutional Investors (DIIs) sold shares worth ₹2,964 crore. In the derivatives market, FIIs sold index futures worth ₹975 crore and bought index options worth ₹32,491 crore. Further, they sold stock futures worth ₹2,370 crore and sold stock options worth ₹483 crore.
India VIX
The volatility index fell 2.6% and settled at 11.53.
Stock Action📊
Long build-up was seen in Granules, Cholamandalam Investments, Tata Motors, Zee Entertainment and Glenmark Pharma.
Short build-up was seen in HCL Tech, Aurobindo Pharma, Aarti Industries , UPL and Dabur.
Under F&O Ban: BHEL, Delta Corp, Granules and India Cements.
*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI)
long 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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