Global markets update
The SGX Nifty is trading in the red, down by 26 points. Major Asian markets are trading mixed. In Japan, the Nikkei rose 0.6% and Hong Kong’s Hang Seng index slipped 0.2% at 7 am India time.
The US markets closed lower on persistent inflation fears. The Dow Jones fell 0.6%, while the Nasdaq slipped 0.4%. European markets closed lower in the range of 0.6% to 1.4%.
Stock action
Long build-up was seen in ABB, Astral, Max Financial Services, Vedanta, and MCX.
Short build-up was seen in AU Small Finance Bank, Aarti Industries, L&T Technology Services, GSPL and Jindal Steel and Power.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII activity**
In the cash market, FIIs were net sellers of ₹1,003 crore, while DIIs were net buyers of ₹1,845 crore. In the derivatives market, FIIs sold index futures worth ₹1,174 crore and sold index options worth ₹292 crore. Further, they bought stock futures worth ₹4,469 crore and sold stock options worth ₹1.7 crore.
Index action
Nifty50
Amid volatility, the Nifty50 broke its three-day winning streak and settled below the 16,600-mark. Losses in banking and financial services stocks dragged the index lower, while gains in auto and metal stocks arrested the fall. The Nifty50 closed at 16,584, down by 76 points.
The India VIX climbed 2.4% to 20.47.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 2 June have sizable positions at 17,000 and 16,700 call options and 16,300 and 16,500 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,600 levels. Its immediate support is at 16,300 and resistance is at 16,900 levels.
Bank Nifty
The Bank Nifty fell sharply in the last hour of the trade and settled with a loss of nearly 1% to 35,487. Barring ICICI Bank, all the eleven stocks of the index closed in red, with AU Small Finance Bank and Kotak Mahindra Bank being the biggest losers.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 33,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,300 and 36,800 levels. Its immediate support is at 35,000 and resistance is at 35,900 levels.
*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with an increase in price, and short build-up means an increase in Open Interest (OI) along with a decrease in price.
**Source: nseindia.com. Cash market figures are provisional.