Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 269 points at 7:30 am, signalling a negative start for the Nifty50 today. Among Asian markets, Hong Kong's Hang Seng index slipped more than 2%, while Nikkei 225 in Japan was closed on account of a holiday.
Global Markets Update
U.S. stocks tumbled on Friday after September's labour market report pointed to strong growth in U.S. jobs. The data showed that U.S employers added 2,63,000 new jobs in September, as the unemployment rate fell to 3.5%. Friday's report also deflated investors' hopes that the Federal Reserve would pivot from its aggressive rate hike path.
The Dow Jones fell 2.1% to 29,296, while the S&P 500 lost 2.8% and closed at 3,639. The Nasdaq Composite declined 3.8% to 10,652. The European markets also ended Friday’s session lower, in the range of 0.1% to 1.5%.
Index Action
Nifty 50 @ 17,314 📉▼ 17 (-0.1%)
The Nifty50 closed Friday's volatile and range-bound session on a flat note and snapped the two-day winning streak. Among major sectoral indices, Media (+0.3%) and Realty (+0.3%) advanced the most. Oil & Gas (-0.7%) and IT (-0.7%) were the laggards.
Nifty50’s options contracts expiring on 27 October are scattered and have sizable positions at 18,000 and 17,500 call options and 16,000 and 17,000 put options.
Nifty50’s options contracts expiring on 13 October have sizable positions at 17,500 and 17,400 call options and 17,000 and 17,200 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 16,400 and 18,000 levels. On the other hand, 17,000 and 17,600 are the critical levels to watch for the current week.
BANK NIFTY @ 39,178 📉▼ 104 (-0.2%)
The Bank Nifty slipped to 38,800 levels and traded in the red territory for most part of the day. However, the index recovered its intraday losses towards the fag-end and closed Friday's session above the 39,000 mark.
Among stocks, both Federal Bank and IndusInd Bank advanced more than 1%, while IDFC First Bank and AU Small Finance Bank declined more than 2%.
Bank Nifty’s options contracts expiring on 27 October have sizable positions at 41,000 and 40,000 call options and 38,000 and 37,500 put options.
Bank Nifty’s options contracts expiring on 13 October have sizable positions at 39,500 and 40,000 call options and 38,000 and 38,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 37,500 and 40,500 levels. On the other hand 38,500 and 40,000 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹2,250 crore, while DIIs bought shares worth ₹545 crore. In the derivatives market, FIIs sold index futures worth ₹46 crore and bought index options worth ₹694 crore. Further, they sold stock futures worth ₹977 crore and sold stock options worth ₹11 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 2.6% to 18.81
Stock Action📊
Long build-up was seen in Delta Corp, Titan, Indiabulls Housing Finance, Sun TV and Tata Chemicals.
Short build-up was seen in Ramco Cements, Biocon, Mahindra & Mahindra, Gujarat Gas and Dixon Technologies.
Major results today: Tata Consultancy Services.
*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.
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