Index Action
Nifty50
Mirroring negative global cues, the Nifty50 opened lower and slipped below the 17,200 mark. Barring media, all the other sectoral indices are trading in the red, with PSU Bank and Metal being the top losers. At 12 pm today, the Nifty50 was trading 86 points lower at 17,306.
For April 28 options contracts, the Nifty50 has sizable positions at 17,400 and 17,500 call options and 17,200 and 17,000 put options. Further, additions were seen in 17,400 call options and 17,200 put options.
The Nifty50's immediate support is at 17,000 and resistance is at 17,600 levels.
Bank Nifty
Amid overall market weakness, the Bank Nifty was also off to a negative start. It opened 300 points lower, and further slipped to the 36,200 level. With all 12 bank stocks trading in the red, it is amongst the top losing sectors of the day. At 12 pm, the Bank Nifty was trading 389 points lower at 36,426.
For April 28 options contracts, the Bank Nifty has sizable positions at 36,500 and 37,000 call options and 36,500 and 36,000 put options. Further additions were seen in both 36,400 call options and put options.
The Bank Nifty's immediate support is at 35,900 and resistance is at 37,200 levels.
Stock Action
Today’s top gainers are Colgate-Palmolive, Mindtree, Adani Ports, SBI Cards and Biocon.
Today’s top losers are ICICI Lombard, Hindalco, AU Small Finance Bank, Tata Communications and NALCO.
Sector Update
Among sectors, only Media witnessed buying interest. Stocks like Zee Entertainment and PVR are trading in the green. Whereas, Nifty Bank and Metal came under selling pressure. Stocks like AU Small Finance Bank, SBI, Axis Bank, Hindalco and NALCO are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their futures are trading flat to negative in the range of -0.1% to -1.8%. The U.S. futures are also trading lower, down -0.2%.