Asian Markets Update @7 am 🕖
SGX Nifty climbed the 17,700 mark and is trading higher by 194 points, indicating a positive opening for the Nifty50 today. Major Asian markets started Thursday's session on a positive note. Hong Kong's Seng index climbed 1.3%, while Australia's S&P/ASX 200 rose 0.9%. Meanwhile, markets in Japan were closed today on account of a holiday.
Global Markets Update
The US markets rallied after inflation in the US eased by more than expected in July. The July CPI (consumer price index) increased YoY to 8.5%, while the reading stagnated versus June.
The Dow Jones jumped 1.6%, while the tech-heavy Nasdaq rose 2.8%. The European markets ended higher in the range of +0.2% to +1.2%.
Index Action
Nifty50 @ 17,534 📈▲ +9 (+0.06%)
Nifty50 ended Wednesday's session on a flat note and managed to retain the 17,500 mark. Among sectoral indices, Metal (+1.6%) and Private banks (+0.5%) continued to march higher, while IT (-0.8%) and Realty (-0.8%) ended lower.
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 17,500 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 17,800 levels.
Bank Nifty @38,287 📈▲ +50 (+0.1%)
Bank Nifty traded sideways and oscillated in a 247-point range throughout the day. It ended the day 50 points higher and managed to hold the 38,200 mark. Among stocks, ICICI Bank (+1.4%) and IndusInd Bank (+1.2%) were the top gainers, while SBI (-1.1%) and PNB (-1.0%) ended as 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 39,000 and 38,500 call options and 38,000 and 38,300 put options.
As per the options data, the broad range for the Bank Nifty is between 37,000 and 39,500 levels. Its immediate support is at 37,800 and resistance is at 38,700 levels.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹1,061 crore, while DIIs were net sellers of ₹768 crore. In the derivatives market, FIIs sold index futures worth ₹876 crore and bought index options worth ₹790 crore. Further, they sold stock futures worth ₹460 crore and bought options worth ₹99 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 1.4% to 19.59.
Stock Action📊
Long build-up was seen in Tata Chemicals, City Union Bank, Hindalco, ABB and IRCTC.
Short build-up was seen in MRF, Indus Towers, Indian Oil Corporation, GNFC and Cummins India.
Key results today: Apollo Hospitals, Bata India, Bharat Forge, 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.