Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 61 points at 7:30 am, indicating a negative start for the Nifty50 today. Major Asian markets were trading lower. Nikkei 225 in Japan lost 0.9% while Hong Kong’s Hang Seng index declined 1.8%.
Global Markets Update
U.S. stocks fell sharply ahead of the inflation data release today and unexpectedly tight midterm elections.
The Dow Jones fell 1.9% to 32,513, while the S&P 500 dipped 2.0% to close at 3,748. The tech-focused Nasdaq Composite fell 2.4% and closed at 10,353. The European markets closed Wednesday’s session on a negative note, in the range of -0.1% to -2.2%.
Index Action
Nifty50 @ 18,157 📉▼ 45 (-0.2%)
The Nifty50 opened higher but continued to slide lower through the day and ended in red amid weak global cues. Among major sectoral indices, PSU Bank (+3.9%) and FMCG (+0.2%) were the top gainers while Realty (-1.3%) and Pharma (-1.1%) were the laggards.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,200 and 19,000 call options and 17,000 and 18,000 put options.
Nifty50’s options contracts expiring on 10 November have sizable positions at 18,200 and 18,300 call options and 18,000 and 18,100 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,800 and 18,700 levels. On the other hand, 18,000 and 18,400 are the critical levels to watch for next week.
Bank Nifty @ 41,783 📈▲ 96 (+0.2%)
The Bank Nifty hit a new all-time high of 41,948 but saw some profit-booking at higher levels. Among stocks, PNB (+7.4%) and Bank of Baroda (+5.0%) advanced the most, while ICICI Bank (-0.7%) and HDFC Bank (-0.03%) declined the most.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,000 and 43,000 call options and 40,000 and 41,000 put options.
Bank Nifty’s options contracts expiring on 10 November have sizable positions at 42,000 and 42,500 call options and 41,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 42,600 levels. On the other hand 41,300 and 42,000 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹386 crore, while DIIs sold shares worth ₹1,060 crore. In the derivatives market, FIIs bought index futures worth ₹405 crore and bought index options worth ₹4,276 crore. Further, they bought stock futures worth ₹160 and sold stock options worth ₹282 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 2.1% to 15.92.
Stock Action📊
Long build-up was seen in Manappuram Finance, PNB, RBL Bank, PI Industries and Bank of Baroda.
Short build-up was seen in Jubilant FoodWorks, MRF, Lal Pathlabs, Divi’s Labs and Indigo.
Key results today: Apollo Hospitals, Ashok Leyland, Bata India, Berger Paints, CONCOR, Eicher Motors, GNFC, Indian Hotels, Page Industries and Trent.
*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.
Download the Upstox App Today