Global Markets Update
The SGX Nifty is trading in the red, down by 138 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 1.8% (7 am), while Hong Kong’s Hang Seng index slipped 4.1% (7 am).
The US markets slumped on inflation-led global growth concerns. The Dow Jones dropped 1.9%, and the Nasdaq fell 4.2%. European markets ended lower in the range of -2.1% to -2.7%.
Stock Action
Long build-up was seen in Power Grid, PVR, Indus Towers, Bajaj Auto and HDFC Bank.
Short build-up was seen in SRF, ConCor, Larsen & Toubro Infotech, Astral and Trent.
Major companies announcing results today are Asian Paints, Cipla, Gujarat Gas, Vodafone Idea, MGL, Polycab and Torrent 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 ₹3,361 crore, while DIIs were net buyers of ₹3,077 crore. In the derivatives market, FIIs sold index futures worth ₹686 crore and bought index options worth ₹3,836 crore. Further, they sold stock futures worth ₹362 crore and sold stock options worth ₹27 crore.
Index Action
Nifty50
The Nifty50 started the week on a negative note, as worries about a weakening rupee and global rate hikes weighed on investor sentiment. However, with a partial recovery in tech stocks, the index came off day's low and trimmed its morning losses. Dragged by losses in media, oil & gas and metal stocks, the Nifty50 declined 109 points to 16,301.
The India VIX climbed 3.7% to 22.03.
The Nifty50’s options contracts expiring on May 26 have sizable positions at 17,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on May 12 have sizable positions at 16,500 and 16,700 call options and 16,000 and 16,200 put options.
As per options data, the broad range for the Nifty50 is between 15,700 and 17,500 levels. Its immediate support is at 16,100 and resistance is at 16,700 levels.
Bank Nifty
The Bank Nifty on Monday saw a gap-down start and breached the 34,000-mark. However, the index staged a smart recovery of more than 600 points in the first session and reclaimed the 34,500-mark. Hit by the constant selling pressure at higher levels in the afternoon session, the Bank Nifty closed 315 points lower at 34,275. Barring Federal Bank and HDFC Bank, the other ten stocks of the index closed in the red.
The Bank Nifty’s options contracts expiring on May 26 have sizable positions at 36,000 and 39,000 call options and 34,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on May 12 have sizable positions at 36,000 and 35,000 call options and 34,000 and 33,000 put options.
As per the options data, the broad range for the Bank Nifty, is between 33,000 and 35,800 levels. Its immediate support is at 33,800 and resistance is at 35,000 levels.
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*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.