Asian Markets Update @ 8:30 am
The SGX Nifty was trading flat, down by 0.02% or 3 points from its previous close, suggesting a flat start for the Nifty50 today. Major Asian markets are trading in the green. Nikkei 225 in Japan rose 1.1%, while Hong Kong's Hang Seng index gained 1.0%.
Global Markets Update
US markets ended higher, shrugging off its early weakness and ending near the day’s high. The Dow Jones rose 0.5% to close at 33,704. The S&P 500 gained 0.7%% and ended the day at 3,919. The tech-focused Nasdaq Composite rose 1.0% and closed at 10,742.
Index Action
Nifty50
January Futures: 17,988 📉▼184 (-1.0%)
Among mixed global cues, the Nifty50 opened flat but soon slipped in the red. It tested the 17,850 zone and settled 1% lower giving up most of Monday’s gains.
Except Auto, all other major sectoral indices ended in the red with PSU Bank and Financial Services being the biggest laggards.
Nifty50’s options contracts expiring on 12 January have sizable positions at 18,000 and 18,200 call options and 18,000 and 17,900 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,200 and 18,500 levels. On the other hand, 17,700 and 18,100 are the critical levels to watch for the current week.
Bank Nifty
January Futures: 42,222 📉▼545 (-1.2%)
The Bank Nifty opened in the green but fell to 41,800 levels. Amid late buying it settled just above 42,000 but with a cut of 1.3%.
Except IndusInd Bank (+0.7%), all other stocks of the banking index closed in red, with PNB (-3.5%) and Bank of Baroda (-2.4%) being the top losers.
Bank Nifty’s options contracts expiring on 12 January have sizable positions at 42,500 and 43,000 call options and 42,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 43,000 levels. On the other hand, 41,600 and 42,600 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹2,109 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹1,806 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹2,453 crore and bought index options worth ₹3,504 crore. Further, they sold stock futures worth ₹847 crore and sold stock options worth ₹38 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, rose 5.8% to 15.51.
Stock Action📊
Long build-up was seen in Hindustan Copper, Max Financial Services, L&T Finance, Rain Industries and Aurobindo Pharma.
Short build-up was seen in Adani Enterprises, Crompton Greaves, Eicher Motors, Dixon Technologies and Colgate-Palmolive.
Under F&O Ban: GNFC and Indiabulls Housing Finance
*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.