Index Action
Nifty50
The Nifty50 hit a new 52-week low and ended below 15,400. All major sectoral indices ended lower and Metal, IT and Auto sectors were among the top losers. 47 out of the 50 stocks declined, dragging the Nifty50 down by 331 points to 15,360.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 16,000 and 16,500 call options and 15,500 and 15,000 put options.
The Nifty50’s options contracts expiring on 23 June have sizable positions at 16,000 and 15,700 call options and 15,000 and 15,500 put options.
As per options data, the broad range for the Nifty50 is between 14,700 and 16,200 levels. Its immediate support is at 15,100 and resistance is at 15,700 levels.
Bank Nifty
The Bank Nifty fell more than 1,200 points from the day’s high and ended 2.1% lower. All 12 stocks dipped with IndusInd Bank and Kotak Mahindra Bank falling the most. The Bank Nifty fell 721 points to 32,617.
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 35,000 and 34,500 call options and 32,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on 23 June have sizable positions at 33,500 and 34,000 call options and 32,000 and 32,500 put options.
As per the options data, the broad range for the Bank Nifty is between 31,800 and 33,800 levels. Its immediate support is at 32,200 and resistance is at 33,300 levels.
Stock Action
Today’s top gainers were CG Consumer (+0.8%), Coforge (+0.5%), Nestle (+0.4%), Dabur (+0.3%) and Indus Towers (+0.1%).
Today's top losers were Strides Pharma (-9.1%), RBL Bank (-8.4%), Vedanta (-8.1%), Chambal Fertilisers (-7.4%) and Delta Corp (-7.3%).
Sector Update
All major sectoral indices ended in red with Metal and Realty being the top losers. Stocks like Vedanta, JSPL, Tata Steel, DLF and Godrej Properties ended in the red.
Big Story
According to reports, India reiterated Commerce Minister Piyush Goyal’s view that any WTO vaccine agreement must also waive IP rights for Covid-19 diagnostic tests and therapeutic drugs. India pointed towards big nations for dragging out the negotiations and pharmaceutical manufacturers were ultimately able to produce an oversupply of vaccines.