Asian Markets Update @7 am
The SGX Nifty is trading higher by 46 points, signalling a positive start for the Nifty50 today. Major Asian markets are also trading higher. In Japan, the Nikkei gained 0.4%, while Hong Kong’s Hang Seng index advanced 0.4%.
Global Markets Update
The US markets closed lower on Tuesday as investors braced for June inflation data which will be released later today. The Dow Jones slipped 0.6%, while the Nasdaq lost 0.9%. The European markets closed higher in the range of +0.1% to +0.8%.
Stock Action
Long build-up was seen in Mindtree, Indus Towers, PI Industries, ConCor and BHEL.
Short build-up was seen in Delta Corp, NMDC, Bharat Petroleum, Indian Oil Corporation and Steel Authority of India.
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,565 crore, while DIIs were net buyers of ₹140 crore. In the derivatives market, FIIs sold index futures worth ₹2,815 crore and sold index options worth ₹1,555 crore. Further, they sold stock futures worth ₹1,123 crore and bought stock options worth ₹171 crore.
Index Action
Nifty50
Amid weak global cues, the Nifty50 closed in the negative territory for the second consecutive day. It slipped 157 points to 16,058. All the major sectoral indices, barring realty, ended in the red, with IT, metal and auto being the top losers.
The India VIX, a gauge of the market's volatility in the near term, climbed 0.9% to 18.54.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 16,500 and 17,000 call options and 15,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 14 July have sizable positions at 16,200 and 16,300 call options and 16,000 and 15,700 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 16,700 levels. Its immediate support is at 15,800 and resistance is at 16,300 levels.
Bank Nifty
The Bank Nifty fell sharply in the last hour of the trade but held on to the 35,000-mark. Except Bandhan Bank, all other eleven index stocks ended in red, with IndusInd Bank and AU Small Finance Bank being the top losers. The Bank Nifty ended the day 337 points lower at 35,132.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 36,000 and 35,000 call options and 34,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 14 July have sizable positions at 35,500 and 36,000 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,000 and 36,200 levels. Its immediate support is at 34,800 and resistance is at 35,600 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.