Asian Markets Update 7 am
Indian equities may start the day flat to negative, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 1 (-0.0%) points lower. Its Asian peers are trading mixed. The Nikkei 225 rose 0.1% while Hang Seng slipped 1.0%.
US Market Update
US markets ended positively ahead of the data on inflation, producer prices and retail sales later this week. Dow Jones advanced 0.2% while NASDAQ rose 0.09%.
Index Action
September Futures @ 20,046 📈▲173 (+0.8%)
OI Contracts: 1,99,697 (-0.5%)
On the back of mixed global cues and institutional solid inflows, the Nifty50 hit 20,000 for the first time. The index rose for the seventh straight session with most of the sectoral indices ending in green.
The Nifty50 options expiring on 14 September have significant positions at 20,000 and 20,100 calls and 19,900 and 19,800 puts.
According to options data and OI analysis, the Nifty50 range for the 28th September expiry is between 19,500 and 20,600. On the other hand, 19,800 and 20,200 are this week's immediate support and resistance levels.
September Futures @ 45,752 📈▲432 (+0.9%)
OI Contracts: 1,27,320 (-3.7%)
Bank Nifty zoomed to 45,500 and gained nearly a per cent. The index is now at a more than one-month high point. Yesterday's rise also filled the gap created on daily charts in early August. Both PSU bank and private bank indices too ended higher, with the former leading the way.
Punjab National Bank (+3.4%) and Bank of Baroda (+2.5%) were the top gainers among banking index stocks. Bandhan Bank (-0.4%) was the laggard.
The Bank Nifty's options expiring on 13 September have significant positions at the 46,000 and 45,500 calls and 45,500 and 45,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 28th September expiry is between 44,400 and 46,600. On the other hand, 45,200 and 45,900 are the immediate support and resistance levels for this week.
Nifty Financial Services
September Futures @ 20,354 📈▲164 (+0.8%)
OI Contracts: 1,974 (+3.4%)
The FINNITY scaled 20,300 and ended at a more than one-month high. The FINNIFTY's options expiring on 12 September have significant positions at the 20,300 and 20,500 calls and 20,200 and 20,000 puts.
According to options data and OI analysis of contracts expiring on 12th September, FINNIFTY's immediate support and resistance levels are at 20,200 and 20,500.
FII and DII Data
In the cash market, the Foreign Institutional Investors (FIIs) bought shares worth ₹1,473 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹366 crore. In the derivatives market, FIIs bought index futures worth ₹406 crore and sold index options worth ₹12,674 crore. Further, they bought stock futures worth ₹483 crore and sold options worth ₹67 crore.
India VIX
The volatility index advanced 5.2% and settled at 11.35.
Stock Action
Long build-up was seen in OFSS, CONCOR, IOC, Power Grid and Adani Ports.
Short build-up was seen in BHEL, MGL, Gujarat Gas, Lupin and ONGC.
Under F&O Ban: BHEL, Chambal Fertilisers, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram, Punjab National Bank and SAIL.
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