Asian Markets Update @7 am 🕖
SGX Nifty was trading lower by 34 points at 7 am, signalling a negative start for the Nifty50 today. Major Asian markets are also trading lower. In Japan, the Nikkei declined 0.5%, while Hong Kong’s Hang Seng index slipped 0.4%.
Global Markets Update
The US markets ended lower on Tuesday as investors await the US inflation data, which will be released later today. The inflation report will likely yield further clues about how aggressive the US Fed might be in fighting inflation.
The Dow Jones fell 0.1%, while the tech-focused Nasdaq slipped 1.1%. The European markets ended mixed in the range of -1.1% to +0.08%.
Index Action
Nifty50 @ 17,525 📈▲+127 (+0.7%)
The Nifty50 zoomed past the psychologically crucial 17,500 mark and closed Monday's session near the day's high. Among sectoral indices, Metal (+1.2%), Private Banks (+1.2%) and Auto (+0.9%) gained the most, while PSU Banks (-0.4%) and IT (-0.02%) were the only laggards.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s options contracts expiring on 11 August have sizable positions at 17,600 and 17,800 call options and 17,400 and 17,300 put options.
As per options data, the broad range for the Nifty50 is between 16,600 and 18,200 levels. Its immediate support is at 17,300 and resistance is at 17,700 levels.
Bank Nifty @38,237 📈▲+316 (+0.8%)
The Bank Nifty also had a strong run and ended Monday’s session comfortably above the 38,200 mark. With nine out of 12 bank stocks closing in the green, its breadth was in favour of bulls. Among stocks, IDFC First Bank (+2.8%) and HDFC Bank (+2.4%) were the top gainers, while SBI (-2.0%) and PNB (-0.7%) were the top losers.
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 38,000 and 39,000 call options and 38,000 and 37,000 put options.
The Bank Nifty’s options contracts expiring on 11 August have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,000 put options.
As per the options data, the broad range for the Bank Nifty is between 36,800 and 39,300 levels. Its immediate support is at 37,600 and resistance is at 38,700Â levels.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹1,449 crore, while DIIs were net sellers of ₹140 crore. In the derivatives market, FIIs bought index futures worth ₹137 crore and bought index options worth ₹5,330 crore. Further, they bought stock futures worth ₹436 crore and sold options worth ₹158 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 2.0% to 19.30.
https://upstox.com/stocks/metropolis-healthcare-ltd-share-price/INE112L01020/
Stock Action📊
Long build-up was seen in Hindustan Copper, India Cements, Tata Chemicals, Coal India and Amara Raja Batteries.
Short build-up was seen in Alkem Labs, Bharat Petroleum Corporation, SBI, Petronet LNG and Power Finance Corporation.
Key results today: Abbott India, Cummins India, Eicher Motors, Glenmark Pharmaceuticals, Hindalco, Indiabulls Housing Finance, Ipca Labs, IRCTC, Metropolis, Oil India, Pidilite and SAIL.
*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.