Index Action
Nifty50
The Nifty50 ended the three-day winning streak and declined 0.4%, dragged by banks and IT stocks. However, gains in metal and auto stocks cushioned the fall. The Nifty50 slipped 76 points to end at 16,584.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 2 June have sizable positions at 17,000 and 16,700 call options and 16,300 and 16,500 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,600 levels. Its immediate support is at 16,300 and resistance is at 16,900 levels.
Bank Nifty
The Bank Nifty slipped below the 35,500-mark and was one of the top losing sectors of the day. Barring ICICI Bank, all the other 11 stocks of the index closed in the red. The Bank Nifty fell by 339 points to 35,487.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 33,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,300 and 36,800 levels. Its immediate support is at 35,000 and resistance is at 35,900 levels.
Stock Action
Today’s top gainers were Info Edge, Piramal Enterprises, MCX India, NTPC and ONGC.
Today's top losers were Aarti Industries, Metropolis, Glenmark Pharma, Kotak Mahindra Bank and Sun Pharma.
Sector Update
Among major sectoral indices, Realty and Metal were the top gainers. Stocks like Godrej Properties, Oberoi Realty, Vedanta, JSW Steel and NMDC ended in the green.
The Banking and Financial Services sectors were the top losers. Stocks like AU Small Finance Bank, Kotak Mahindra Bank, SBI, HDFC and HDFC Life ended in the red.
Major News
Most parts of India will have a good and well-distributed rainfall for the current monsoon, says IMD in its updated long range forecast. The weather office said that the Southwest monsoon will be normal and is expected to be 103 per cent of the long-period average.
Download the Upstox App Today