Index Action
Nifty50
The Nifty50 spent the day in a range and ended lower just below 15,700. Metal, Oil & Gas and IT stocks were the biggest draggers for the index while Auto and Financials provided support. The Nifty50 slipped 39 points or 0.2% to 15,692.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 17,000 and 16,500 call options and 15,500 and 15,000 put options.
The Nifty50’s options contracts expiring on 16 June have sizable positions at 16,000 and 16,200 call options and 15,500 and 15,600 put options.
As per options data, the broad range for the Nifty50 is between 15,100 and 16,600 levels. Its immediate support is at 15,600 and resistance is at 16,100 levels.
Bank Nifty
The Bank Nifty ended higher just above 33,300. The gains in the headline index were driven by a sharp 4% up move in AU Small Finance Bank and supported by SBI and ICICI Bank. 8 out of the 12 stocks of the index ended lower. The Bank Nifty rose 27 points to 33,339.
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 35,000 and 36,000 call options and 33,000 and 32,000 put options.
The Bank Nifty’s options contracts expiring on 16 June have sizable positions at 35,000 and 34,500 call options and 33,000 and 32,000 put options.
As per the options data, the broad range for the Bank Nifty is between 32,000 and 34,600 levels. Its immediate support is at 32,800 and resistance is at 34,000 levels.
Stock Action
Today’s top gainers were Strides Pharma (+4.5%), IGL (+3.9%), Bajaj Finserv (+3.9%), PEL (+3.5%) and AU Small Finance Bank (+3.3%).
Today's top losers were Delta Corp (-5.2%), Tata Communications (-4.7%), ONGC (-3.1%), Tata Chemicals (-2.8%) and Apollo Tyres (-2.2%).
Sector Update
Among major sectoral indices, Auto and Pharma were the top gainers. Stocks like Tata Motors, Hero MotoCorp, Escorts, Strides Pharma and Divis Labs ended in the green.
Oil & Gas and Metal sectors were the top losers. Stocks like ONGC, Reliance, IOC, Tata Steel and NALCO ended in the red.
Big Story
The cabinet has approved the Department of Telecom’s proposal to auction 72GHz of spectrum for a period of 20 years. It has also decided to enable the development and setting up of private captive networks to spur a new wave of innovations in industry 4.0 applications.