Index Action
Nifty50
Tracking negative global cues, the Nifty50 opened lower and took support at 17,000 levels. All the major sectors were trading in red, with metal and IT stocks being the biggest drags. At 12 pm, the Nifty50 was trading 152 points lower at 17,048.
For April 28 options contracts, the Nifty50 has sizable positions at 17,100 and 17,200 call options and 17,000 and 16,900 put options. Further, additions were seen in 17,100 call options and 17,000 put options.
The Nifty50's immediate support is at 16,800 and resistance is at 17,300 levels.
Bank Nifty
Amid overall market weakness, the Bank Nifty was also off to a negative start. It opened more than 300 points lower and took support at the 35,900 level. Barring HDFC Bank, all the other 11 stocks of Bank Nifty were trading in red, with AU Small Finance Bank and Bandhan Bank losing the most. 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 35,500 and 36,000 put options. Further additions were seen in 36,500 call options and 36,000 put options.
The Bank Nifty's immediate support is at 35,500 and resistance is at 36,800 levels.
Stock Action
Today’s top gainers are Dr. Lal Pathlabs, MGL, Petronet LNG, Voltas and Indian Hotels.
Today’s top losers are Bajaj Finance, Indigo, Vodafone-Idea, Trent and Muthoot Finance.
Sector Update
All the Nifty sectoral indices were trading in red, with Metal and IT being the top losers. Stocks like Hindalco, NALCO, SAIL Mindtree and Wipro are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their futures are trading flat to positive in the range of -0.08% to +0.2%. The US futures are trading higher, up by 0.8%.
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