Index action
Nifty50
The Nifty50 began Thursday's session deep in the red following the reports of Russia ordering military operations in Ukraine. Consequently, the oil prices also soared to the $100 mark. All the sectors are trading in red, with PSU Bank, Realty and Auto being the biggest drags. At 12 pm today, the Nifty50 was trading 507 points lower at 16,556.
For February 24 options contracts, the Nifty50 has sizable positions at 16,800 and 16,700 call options and 16,500 and 16,400 put options. Further, additions were seen in both 16,700 call options and 16,500 put options.
The Nifty50's immediate support is at 16,300 and resistance is at 17,000 levels.
Bank Nifty
The Bank Nifty fell sharply and briefly dipped below the 36,000 mark. Both PSU and Private Banks indices slipped more than 3%. At 12 pm today, the Bank Nifty was trading 1,327 points lower at 36,064.
For February 24 options contracts, the Bank Nifty has sizable positions at 37,000 and 36,500 call options and 36,000 and 35,500 put options. Further additions were seen in 36,500 call options and 36,000 put options.
The Bank Nifty's immediate support is at 35,600 and resistance is at 37,400 levels.
Stock action
Today’s top gainers are Hindalco and NALCO.
Today’s top losers are Indus Towers, Indiabulls Housing Finance, Amara Raja Batteries, Rain Industries and RBL Bank.
Sector update
All major sectoral indices are trading in the red with maximum losses in PSU Bank, down more than 5%. Realty and Auto sectors are down up to 4%. Stocks like PNB, Canara Bank, Godrej Properties, DLF and Amara Raja Batteries are trading in the red.
Global markets update
Major European markets are likely to open lower as their futures are trading in the range of -3.4% to -0.8%. The US futures are trading lower, down by 2%.
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