Index Action
Nifty50
The Nifty50 fell to 16,350 levels and closed in the red for the third straight session. Fall in IT, FMCG and Pharma stocks dragged the index lower while gains in Oil & Gas and Auto stocks helped arrest its fall. The Nifty50 fell over 150 points to 16,416.
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 9 June have sizable positions at 16,800 and 16,600 call options and 16,400 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 17,400 levels. Its immediate support is at 16,200 and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty saw a minor recovery from the low point of the day but closed just below 35,000. Among the stocks, ICICI Bank and HDFC Bank were the top losers while Bandhan Bank and The Federal Bank were the top gainers. The Bank Nifty slipped 314 points to 34,996.
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 35,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 9 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,000 and 36,300 levels. Its immediate support is at 34,600 and resistance is at 35,600 levels.
Stock Action
Today’s top gainers were Honeywell Automation (+4.6%), ONGC (+4.4%), Indus Towers (+2.5%), GAIL (+2.1%) and Indiabulls Housing Finance (+1.6%).
Today's top losers were Gujarat Gas (-5.0%), Titan (-4.5%), MRF (-4.5%), Zee Entertainment (-4.5%) and ICICI Lombard (-4.4%).
Sector Update
Among major sectoral indices, Oil & Gas and Auto were the top gainers. Stocks like Oil India, ONGC, GAIL, TVS Motor and Maruti Suzuki closed in the green.
Meanwhile, the Realty and IT sectors were the top losers. Stocks like Godrej Properties, DLF, TCS, LTI and Coforge closed in the red.
Big Story
As per media report, India is looking to increase its import of Russian oil at heavily-discounted supplies as international buyers turn down dealings with Moscow over its invasion of Ukraine. State processors are collectively working on finalising and securing a new six-month supply of Russian crude oil to India.