Global Markets Update
SGX Nifty is trading in the red, down by 81 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.1% (7am), while Hong Kong’s Hang Seng index slipped 0.7% (7am).
The US markets ended mixed as bottom-fishing investors turned to tech stocks. The Dow Jones dropped 0.2%, and the Nasdaq rose 0.9%. European markets ended higher in the range of +0.3% to +1.1%.
Stock Action
Long build-up was seen in PVR, Colgate-Palmolive, Navin Fluorine, GNFC and HDFC.
Short build-up was seen in Alkem Labs, Voltas, SRF, Dixon Technologies and Tata Steel.
Major companies announcing results today are Adani Ports, Petronet LNG and PNB.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,960 crore, while DIIs were net buyers of ₹2,958 crore. In the derivatives market, FIIs bought index futures worth ₹344 crore and bought index options worth ₹2,171 crore. Further, sold stock futures worth ₹380 crore and sold stock options worth ₹22 crore.
Index Action
Nifty50
The Nifty50 ended a volatile session on a weak note and settled lower for the third straight session. Metals, oil & gas and pharma stocks were the laggards, while banking and financial services stocks ended with gains. The Nifty50 fell 61 points to 16,240.
The India VIX climbed 1.2% to 22.30.
The Nifty50’s options contracts expiring on May 26 have sizable positions at 17,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on May 12 have sizable positions at 16,500 and 16,400 call options and 16,000 and 16,200 put options.
As per options data, the broad range for the Nifty50 is between 15,600 and 17,500 levels. Its immediate support is at 16,000 and resistance is at 16,700 levels.
Bank Nifty
Amid broader market weakness, the Bank Nifty slipped from its intraday high of 34,781 but outperformed the headline indices. However, with seven out of its 12 stocks closing lower, the index's breadth remained negative. At close, the Bank Nifty gained 207 points and ended the day at 34,482.
The Bank Nifty’s options contracts expiring on May 26 have sizable positions at 36,000 and 39,000 call options and 34,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on May 12 have sizable positions at 36,000 and 35,000 call options and 34,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 33,000 and 35,800 levels. Its immediate support is at 33,800 and resistance is at 35,000 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.