Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 32 points at 7:30 am, indicating a positive start for the Nifty50 today. Major Asian markets were also trading higher. Nikkei 225 in Japan rose 0.3%, while Hong Kong’s Hang Seng index advanced 0.4%.
Global Markets Update
U.S. stocks finished sharply higher and closed yesterday’s session in the green. The sharp up move comes ahead of the release of inflation data and the Federal Reserve’s interest rate decision over the next two days.
The Dow Jones climbed 1.5% to 34,005, while the S&P 500 rose 1.4% to finish at 3,990. The tech-focused Nasdaq jumped 1.6% and closed the session at 11,143.
Index Action
Nifty50 @ 18,497 📈▲ 0.5 (+0.0%)
After a gap-down start, the Nifty50 index recouped its losses and closed the Monday’s range-bound day flat. Meanwhile, India's retail inflation (consumer price index) eased to an 11-month low of 5.8% in November from 6.7% in October. The number has dropped within RBI's tolerance band of 4-6% after ten months.
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 18,400 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, 18,350 and 18,650 are the critical levels to watch for the current week.
Bank Nifty @ 43,708 📈▲ 75 (+0.1%)
Amid broader market weakness, the Bank Nifty index also started the session on a negative note and slipped to 43,300 levels. However, the index recovered its early losses and ended Monday's session above Friday's close.
Among banking stocks, Punjab National Bank (+3.2%) and IDFC First Bank (+0.8%) advanced the most, while Kotak Mahindra Bank (-1.1%) extended its losing streak to the fifth day in a row.
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 43,500 and 43,700 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 43,300 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 ₹138 crore, while DIIs bought shares worth ₹695 crore. In the derivatives market, FIIs bought index futures worth ₹657 and bought index options worth ₹4,810 crore. Further, they sold stock futures worth ₹310 crore and bought stock options worth ₹182 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 1.1% to 13.32.
Stock Action📊
Long build-up was seen in Honeywell Automation, Indigo, Apollo Tyres, Hindustan Petroleum and Indian Oil Corporation.
Short build-up was seen in Metropolis, Navin Fluorine, Godrej Consumer Products, Lal Pathlabs and Infosys.
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.