Index action
Nifty50
Against mixed global cues, the Nifty50 opened lower and fell below the 16,400-mark. Except for Oil & Gas, all the other major sectoral indices are trading in the red. At 12 pm, the Nifty50 was trading 182 points lower at 16,387.
For June 9 options contracts, the Nifty50 has sizable positions at 16,500 and 16,800 call options and 16,400 and 16,000 put options. Further, additions were seen in 16,600 call options and 16,400 put options.
The Nifty50’s immediate support is at 16,200 and resistance is at 16,600 levels.
Bank Nifty
The Bank Nifty extended its opening losses and slipped below the 35,000-mark. Barring AU Small Finance Bank, all other 11 stocks of the index are trading in the red, with Kotak Mahindra Bank and HDFC Bank being the top losers. At 12 pm, the Bank Nifty tanked 337 points to 34,972.
For June 9 options contracts, the Bank Nifty has sizable positions at 36,000 and 35,000 call options and 35,000 and 34,500 put options. Further additions were seen in both 35,000 call options and put options.
The Bank Nifty’s immediate support is at 34,600 and resistance is at 35,400 levels.
Stock action
Today’s top gainers are ONGC, GAIL, Indus Towers, IEX and Coal India.
Today’s top losers are Gujarat Gas, Titan, LIC Housing Finance, ICICI Lombard and Zee Entertainment.
Sector update
Except for Oil & Gas, all the Nifty sectoral indices are trading in the red. Stocks like Oil India, ONGC and GAIL are trading in the green.
The Realty and FMCG were the major losers. Stocks like DLF, Godrej Properties, HUL, Marico and United Spirits 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 -0.2% to -0.6%. The US futures are trading lower, down by 0.4%.