Index Action
Nifty50
Tracking positive global cues, the Nifty50 snapped its two-day losing streak and closed nearly 1.5% higher. Aided by gains in realty, auto and FMCG stocks, the Nifty50 shut shop at 17,200, up 1.4%.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 17,200 and 17,500 call options and 17,000 and 16,900 put options.
As per options data, the broad range for the Nifty50 is between 16,000 and 17,900 levels. Its immediate support is at 16,800 and resistance is at 17,400 levels.
Bank Nifty
The Bank Nifty traded steadily with a positive bias and hovered around 36,500 mark. Barring Axis Bank, all the other stocks of the banking index closed in green. Against this backdrop, the Bank Nifty closed the session 322 points higher at 36,404.
The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 36,500 and 37,000 call options and 36,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,900 and 37,500 levels. Its immediate support is at 35,900 and resistance is at 37,000 levels.
Stock Action
Today’s top gainers were Chola Investments, Indiabulls Housing Finance, Apollo Tyres, Bajaj Auto and Adani Ports.
Today's top losers were Atul Ltd, Laurus Labs, Intellect Design, ONGC and Zydus Lifesciences.
Sector Update
All the Nifty sectoral indices closed in green, with Realty and Auto being the top gainers. Stocks like Godrej Properties, Oberoi Realty, DLF, Bajaj Auto and Hero MotoCorp ended in green.
Major News
Foundation of India and Indian Diaspora Studies (FIIDS)-USA, urged Finance Minister Nirmala Sitharaman to allow NRIs and OCI card holders to invest in the Indian stock markets.