Index Action
Nifty50
The Nifty50 opened higher and traded steadily above the 17,100 mark. Gains in FMCG and oil & gas stocks pushed the index higher, while Metal and IT stocks kept the upside capped. At 12 pm, the Nifty50 was trading 126 points higher at 17,165.
For April 28 options contracts, the Nifty50 has sizable positions at 17,200 and 17,300 call options and 17,000 and 17,100 put options. Further, additions were seen in 17,200 call options and 17,100 put options.
The Nifty50's immediate support is at 16,800 and resistance is at 17,400 levels.
Bank Nifty
The Bank Nifty gave up all its opening gains and slipped below the 36,000 mark in the morning session. However, it staged a recovery of more than 200 points and swung back into positive territory. With seven out of 12 bank stocks trading in green, the Bank Nifty was trading 88 points higher at 36,117.
For April 28 options contracts, the Bank Nifty has sizable positions at 36,500 and 37,000 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 35,500 and resistance is at 36,800 levels.
Stock Action
Today’s top gainers are Indian Hotels, Hindustan Unilever, Coromandel, FSL and Asian Paints.
Today’s top losers are Balkrishna Industries, IEX, Dr. Lal Pathlabs, Atul Ltd and Piramal Enterprises.
Sector Update
The FMCG and Oil & Gas indices witnessed buying interest. Stocks like Hindustan Unilever, United Breweries Limited, Nestle, Reliance Industries and GAIL are trading in green.
The Media and Realty indices came under selling pressure. Stocks like Zee Entertainment, Sun TV, Oberoi Realty and DLF are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their futures are trading positive in the range of 0.6% to 1%. The U.S. futures are trading higher, up by 0.6%.
Download the Upstox App Today