Asian Markets Update @7 am 🕖
SGX Nifty is trading lower by 27 points, signalling a negative start for the Nifty50 today. Major Asian markets are trading higher. In Japan, the Nikkei rose 2.1%, while Hong Kong’s Hang Seng index climbed 0.1%.
Global Markets Update
The US markets ended mixed as the inflation data-linked rally took a breather. The Dow Jones rose 0.08%, while the tech-focused Nasdaq slipped 0.5%. The European markets ended mixed in the range of -0.5% to +0.3%.
Index Action
Nifty50 @ 17,659 📈▲ 124 (+0.7%)
Encouraged by optimism in global markets, the Nifty50 gained 0.7% and closed in the green for the fourth consecutive day. IT (+1.7%) and Financial Services (+1.5%) sectors pushed the index higher, while FMCG (-0.8%) and Auto (-0.2%) witnessed selling pressure.
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 18 August have sizable positions at 17,700 and 17,800 call options and 17,500 and 17,700 put options.
As per options data, the broad range for the Nifty50 is between 16,800 and 18,400 levels. Its immediate support is at 17,400 and resistance is at 17,800 levels.
Bank Nifty @38,879 📈▲ 592 (+1.5%)
The Bank Nifty outperformed the headline indices and closed Thursday's session 1.5% higher. Among stocks, Bank of Baroda (+3.8%) and Axis Bank (+2.6%) were the top gainers, while Bandhan Bank (-0.1%) and AU Small Finance Bank (-0.1%) 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 18 August have sizable positions at 39,500 and 39,000 call options and 38,000 and 38,800 put options.
As per the options data, the broad range for the Bank Nifty is between 37,600 and 39,900 levels. Its immediate support is at 38,300 and resistance is at 39,200 levels.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹2,298 crore, while DIIs were net sellers of ₹729 crore. In the derivatives market, FIIs bought index futures worth ₹921 crore and bought index options worth ₹1,122 crore. Further, they bought stock futures worth ₹983 crore and sold options worth ₹173 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 6.2% to 18.36.
Stock Action📊
Long build-up was seen in Jubilant FoodWorks, Gujarat Gas, Bata India, Glenmark Pharma and Birlasoft.
Short build-up was seen in IRCTC, GAIL, Steel Authority of India (SAIL), Escorts, and Asian Paints.
Key results today: Apollo Tyres, Astral, Divi’s Lab, Grasim, Hero MotoCorp, Muthoot Finance, Info Edge, ONGC, Power Finance Corporation and Sun TV.
*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.