F&O Market Recap for 9 June 2022

Index Action 

Nifty50

Led by Reliance Industries, the Nifty50 recovered nearly 250 points from the day’s low and closed in green.  Except Metal, all major sectors closed higher with Oil & Gas, Pharma and IT being the leaders. The Nifty50 jumped 121 points to 16,478.  

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 16 June have sizable positions at 17,000 and 16,500 call options and 16,200 and 16,300 put options. 

As per options data, the broad range for the Nifty50 is between 15,500 and 17,200 levels. Its immediate support is at 16,200 and resistance is at 16,800 levels.

Bank Nifty

Amid market recovery, the Bank Nifty rebounded as well and settled above 35,000. Bank of Baroda and Kotak Mahindra Bank were the top gainers while AU Small Finance Bank and SBI were the laggards. The Bank Nifty rose 139 points to 35,085.

The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 35,000 call options and 35,000 and 34,000 put options. 

The Bank Nifty’s options contracts expiring on 16 June have sizable positions at 36,000 and 35,000 call options and 34,500 and 34,000 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 34,500 and resistance is at 35,800 levels. 

Stock Action

Today’s top gainers were ConCor (+5.7%), IEX (+5.6%), Biocon (+5.1%), Tata Communications (+4.7%) and IGL (+4.4%). 

Today's top losers were AU Small Finance Bank (-50.9%), Strides Pharma (-4.5%), Tata Steel (-3.9%), Vedanta (-3.3%) and Indiabulls Housing Finance (-2.4%). 

Sector Update 

Among major sectoral indices, Oil & Gas and Pharma were the top gainers. Stocks like Reliance Industries, IGL, BPCL, Biocon and Dr.Reddy’s ended in the green. 

The Metal sector was the top loser. Stocks like Tata Steel, Vedanta, and NALCO ended in the red. 

Big Story

India recorded a single-day rise of over 7,240 Covid-19 cases after 99 days. As per reports, the Union Health Ministry is said to be closely monitoring the situation in Maharashtra, Kerala, Delhi and Karnataka. It has asked them to follow stringent measures to keep the situation under check.