Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 300 points at 7:30 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading higher. Nikkei 225 in Japan climbed 2.5% while Hong Kong’s Hang Seng index rose 4.6%.
Global Markets Update
U.S. stocks rose sharply as the inflation data came in below expectations. This means that the historical rate hikes might be working and there can be a curb on further rate hikes.
The Dow Jones rose 3.7% to 33,715, while the S&P 500 climbed 5.5% to close at 3,956. The tech-focused Nasdaq Composite rose 7.3% and closed at 11,114. The European markets closed Thursday’s session on a positive note, in the range of +1.0% to +3.5%.
Index Action
Nifty50 @ 18,028 📉▼ 128 (-0.7%)
After a gap down start the Nifty50 breached 18,000 during the day but managed to close just above it. All major sectoral indices with Auto (-1.9%), PSU Bank (-1.2%) and Oil & Gas (-0.7%) being the top laggards.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,200 and 19,000 call options and 17,000 and 18,000 put options.
Nifty50’s options contracts expiring on 17 November have sizable positions at 18,000 and 18,200 call options and 18,000 and 17,800 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,500 and 18,600 levels. On the other hand, 17,800 and 18,200 are the critical levels to watch for next week.
Bank Nifty @ 41,603 📉▼ 179 (-0.4%)
The Bank Nifty had a negative opening but it rebounded from 41,300 levels to close a dent of 0.4%. Among stocks, HDFC Bank (+1.0%) and Kotak Mahindra Bank (0.9%) advanced the most, while Axis Bank (-3.4%) and Bandhan Bank (-2.8%) declined the most.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,000 and 43,000 call options and 40,000 and 41,500 put options.
Bank Nifty’s options contracts expiring on 17 November have sizable positions at 42,000 and 41,500 call options and 40,500 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 40,500 and 42,500 levels. On the other hand 41,000 and 42,200 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹36 crore, while DIIs sold shares worth ₹967 crore. In the derivatives market, FIIs sold index futures worth ₹1,519 crore and bought index options worth ₹5,149 crore. Further, they sold stock futures worth ₹886 and sold stock options worth ₹111 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 2.2% to 15.57.
Stock Action📊
Long build-up was seen in Lupin, Petronet LNG, ABB, Samvardhana Motherson and Hero MotoCorp.
Short build-up was seen in Deepak Nitrite, Ramco Cements, Aurobindo Pharma, Axis Bank and GNFC.
Key results today: ABB, Alkem Labs, BHEL, Glenmark Pharma, Hindustan Aeronautics, Hindalco, IDFC, Ipca Labs, M&M, Sun TV, Zee Entertainment and Zydus Lifesciences
Under F&O Ban: PNB
*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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