Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 62 points at 7:30 am, signalling a gap-down start for the Nifty50 today. Major Asian markets were also trading in the red. Nikkei 225 in Japan fell 0.3%, while Hong Kong’s Hang Seng index slipped 1.3%.
Global Markets Update
U.S. stocks closed Friday’s session lower. This comes after November’s producer price index came in higher than expected, rising 0.3% month-on-month and 7.4% over the previous year. The producer price index captures inflation at wholesale level.
The Dow Jones dropped 0.9% to 33,476, while the S&P 500 fell 0.7% to finish at 3,934. The tech-focused Nasdaq declined 0.7% and closed the session at 11,004.
Index Action
Nifty50 @ 18,496 📉▼ 112 (-0.61%)
The benchmark index took a breather on Friday amid muted global cues and closed below the psychologically crucial 18,500 mark.
Nifty50’s options contracts expiring on 29 December have sizable positions at 19,000 and 20,000 call options and 18,000 and 18,500 put options.
Nifty50’s options contracts expiring on 15 December have sizable positions at 18,600 and 18,700 call options and 18,600 and 18,500 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,800 and 19,000 levels. On the other hand, 18,400 and 18,600 are the critical levels to watch for the current week.
Bank Nifty @ 43,633 📈▲ 36 (+0.08%)
The banking pack continued its winning momentum and closed Friday’s session flat in an otherwise weak market. Supported by the ongoing winning spree of PSU banks, fresh long build-up and decent volumes, the banking index scaled a new all-time high in the previous week.
Among banking stocks, AU Small Finance Bank (+1.3%) and IndusInd Bank (+0.9%) were the top gainers, while Punjab National Bank (-2.5%) and IDFC First Bank (-1.8%) declined the most.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 44,000 and 45,000 call options and 43,000 and 42,000 put options.
Bank Nifty’s options contracts expiring on 15 December have sizable positions at 43,700 and 44,000 call options and 43,000 and 43,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,800 and 44,400 levels. On the other hand 43,000 and 44,000 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹158 crore, while DIIs bought shares worth ₹501 crore. In the derivatives market, FIIs sold index futures worth ₹979 and bought index options worth ₹3,173 crore. Further, they sold stock futures worth ₹1,987 crore and sold stock options worth ₹239 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 0.6% to 13.48.
Stock Action📊
Long build-up was seen in Cummins India, AU Small Finance Bank, Gujarat Gas, Nestle India and Alkem Labs.
Short build-up was seen in HCL Tech, Punjab National Bank, LTI Mindtree, Havells India and Wipro.
Under F&O Ban: BHEL, Delta Corp, GNFC and Punjab National Bank.
*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.