Index Action
Nifty50
Amid negative cues from global markets, the Nifty50 declined further after a negative opening. Losses in the Financials and Auto sector pushed the index lower, while gains in Metal and Oil & Gas lent support. At 12 pm today, it was trading 263 points lower at 16,530 and is holding the 16,500 mark.
For March 3 options contracts, the Nifty50 has sizable positions at 16,600 and 16,800 call options and 16,500 and 16,400 put options. Further, additions were seen in both 16,600 call options and 16,500 put options.
The Nifty50 has immediate support at 16,300 and resistance at 17,000 levels
Bank Nifty
The Bank Nifty is trading lower near the 35,100 mark and underperforming the benchmark indices by over 1%. With HDFC twins and ICICI Bank trading lower, the Bank Nifty declined 1,032 points at 35,172.
For March 3 options contracts, the Bank Nifty has sizable positions at 35,500 and 36,000 call options and 35,000 and 34,500 put options. Further additions were seen in 35,500 call options and 35,000 put options.
The Bank Nifty has immediate support at 34,800, and resistance is at 36,200 levels.
Stock Action
Today's top gainers are MCX India, Coal India, Hindalco, Tata Steel and JSPL.
Today's top losers are Asian Paints, Maruti Suzuki, ICICI Bank, HDFC Bank and Bajaj Auto.
Sector Update
Among the sectors, Metal and Media are seeing buying interest. Stocks like Coal India, Hindalco, Tata Steel, Zee Entertainment and PVR are trading in the green.
The Banking and Auto sectors came under selling pressure. Stocks like ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Maruti Suzuki and Bajaj Auto 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 -4.2% to +0.3%. The US Futures are trading higher, up by 0.3%.
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