Asian Markets Update @7 am
The SGX Nifty is trading lower by 50 points, signalling a negative start for the Nifty50 today. Major Asian markets are also trading mixed. In Japan, the Nikkei rose 1.6%, while Hong Kong’s Hang Seng index fell 1.3%.
Global Markets Update
The US markets closed mixed on Friday after the June jobs report came in above expectations. The Dow Jones slipped 0.1%, while the tech-heavy Nasdaq climbed 0.1%. The European markets closed higher in the range of +0.1% to +1.3%.
Stock Action
Long build-up was seen in Tata Chemicals, M&M Financial, Delta Corp, Trent and SRF.
Short build-up was seen in HDFC, MFSL, Hindustan Copper, HDFC Life and Amara Raja Batteries.
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹109 crore, while DIIs were net buyers of ₹34 crore. In the derivatives market, FIIs bought index futures worth ₹743 crore and sold index options worth ₹1,083 crore. Further, they bought stock futures and stock options worth ₹891 crore and ₹171 crore.
Index Action
Nifty50
The Nifty50 scaled the 16,200 mark and ended higher on Friday. The rise was propelled by gains in L&T, Power Grid and Tata Motors, while HDFC Life, ONGC and Tata Steel were among the top losers. The Nifty50 rose 87 points to 16,220.
The India VIX, a gauge of the market's volatility in the near term, slipped 4.2% to 18.39 on Friday.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 16,500 and 17,000 call options and 15,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 14 July have sizable positions at 16,200 and 16,500 call options and 16,200 and 16,000 put options.
As per options data, the broad range for the Nifty50 is between 15,600 and 16,800 levels. Its immediate support is at 16,000 and resistance is at 16,400 levels.
Bank Nifty
The Bank Nifty reclaimed the 35,000 mark and ended the day higher by registering gains of 0.5%. Among stocks, ICICI Bank and Axis Bank were the top gainers, while Bandhan Bank and IDFC First Bank were the top losers. The Bank Nifty jumped 203 points higher at 35,124.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 36,000 and 35,000 call options and 34,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 14 July have sizable positions at 35,000 and 35,500 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,800 and 36,100 levels. Its immediate support is at 34,600 and resistance is at 35,700 levels.
*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.