Index Action
Nifty50
The Nifty50 built on initial gains after a gap-up start and surpassed the 17,500 mark. Gains in auto, financial and IT stocks pushed the index higher, while metal stocks were the laggards. At 12 pm today, it was trading 179 points higher at 17,505.
For March 31 options contracts, the Nifty50 has sizable positions at 17,500 and 17,600 call options and 17,400 and 17,200 put options. Further additions were seen in 17,500 call and 17,400 put options.
The Nifty50's immediate support is at 17,200 and resistance is at 17,700 levels.
Bank Nifty
The Bank Nifty opened above 36,000 and held its gains at higher zones. With all twelve stocks trading in the green, at 12 pm, the Bank Nifty was trading 472 points higher at 36,319.
For March 31 options contracts, the Bank Nifty has sizable positions at 36,500 and 37,000 call options and 35,000 and 35,500 put options. Further additions were seen in 36,500 call and 35,500 put options.
The Bank Nifty's immediate support is at 35,700 and resistance is at 37,000 levels.
Stock Action
Top gainers: Dalmia Bharat, Tata Consumer, Ramco Cements, Bajaj Finserv and Sun TV.
Top losers: ONGC, Hindalco, NALCO, Vedanta and JSW Steel.
Sector Update
Among sectors, the Media and Financial Services indices witnessed buying interest. Stocks like Zee Entertainment, Sun TV, Bajaj Finserv, Bajaj Finance and HDFC Life are trading in the green.
The Metal and Pharma indices came under selling pressure. Stocks like Hindalco, NALCO, Vedanta, Alkem Labs and Aurobindo Pharma are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their Futures are trading flat to negative in the range of -0.4% to 0.04%. U.S. Futures are trading flat to negative, down by 0.08%.
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