Index Action
Nifty50
Amid mixed global cues, the Nifty50 opened higher and gave up all its initial gains in the first session. Losses in auto and financial services stocks dragged the index down, while gains in oil & gas and IT stocks provided support. At 12 pm today, the Nifty50 was trading 3 points lower at 17,527.
For April 13 options contracts, the Nifty50 has sizable positions at 17,600 and 17,700 call options and 17,500 and 17,400 put options. Further, additions were seen in 17,600 call options and 17,500 put options.
The Nifty50's immediate support is at 17,300 and resistance is at 17,800 levels.
Bank Nifty
The Bank Nifty started the session on a strong note and inched closer to the 38,000-mark. However, the selling pressure at higher levels dragged the index down. Despite the weakness in the broader markets, eight out of 12 bank stocks are trading in the green. At 12 pm, the Bank Nifty was trading 30 points lower at 37,717.
For April 13 options contracts, the Bank Nifty has sizable positions at 38,000 and 37,800 call options and 37,500 and 37,700 put options. Further additions were seen in 37,900 call options and 37,700 put options.
The Bank Nifty's immediate support is at 37,200 and resistance is at 38,200 levels.
Stock Action
Today’s top gainers are Ambuja Cements, Indian Hotels, ONGC, Chambal Fertilizers and Deepak Nitrite.
Today’s top losers are PI Industries, Trent, Indiamart, Zydus Lifesciences and Bandhan Bank.
Sector Update
Among sectoral indices, the Oil & Gas and Metal sectors witnessed buying interest. Stocks like ONGC, IGL, Hindustan Copper, JSW Steel and Vedanta are trading in the green.
The Auto and Financial Services sectors came under selling pressure. Stocks like Maruti Suzuki, Tata Motors, Bosch, HDFC and Bajaj Finserv are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in the range of -1.3% to +0.6%. The U.S. futures are trading higher, up by 0.4%