Global Markets Update
The SGX Nifty is trading in the red, down by 309 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 2.8% and Hong Kong’s Hang Seng index slipped 3.0% at 7 am India time.
A fresh inflation shock hammered the US stocks as the consumer-price index increased 8.6% in May, the highest in four decades. The Dow Jones fell 2.7%, while the Nasdaq slipped 3.5%. European markets ended lower in the range of 2.1% to 3%.
Stock Action
Long build-up was seen in Torrent Power, Metropolis, Trent, Polycab and Grasim.
Short build-up was seen in Kotak Mahindra Bank, HDFC, Hindalco, Bajaj Finance and Gujarat State Petronet.
F&O stocks in ban
Stocks in ban: Delta Corp
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,973 crore, while DIIs were net buyers of ₹2,831 crore. In the derivatives market, FIIs sold index futures worth ₹1,728 crore and bought index options worth ₹6,117 crore. Further, they sold stock futures worth ₹3,461 crore and sold stock options worth ₹35 crore.
Index Action
Nifty50
After a day’s up move, the Nifty50 fell sharply and declined nearly 2% on Friday, dragged by broad-based selling pressure across sectors. Among sectors, all the major indices closed in the red, with Financial Services, IT and Oil & Gas cracking the most. The Nifty50 plunged 276 points and closed at 16,201.
The India VIX climbed 2.3% to 19.58.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 16 June have sizable positions at 17,000 and 16,500 call options and 16,000 and 16,200 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 16,800 levels. Its immediate support is at 15,900 and resistance is at 16,500 levels.
Bank Nifty
The Bank Nifty also started the session on a weak note and ended below the 34,500-mark. Barring Federal Bank and Bank of Baroda, all the other ten stocks of the banking index closed in the red. On Friday, the Bank Nifty fell 601 points and closed the day at 34,483.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 35,000 and 36,000 call options and 34,500 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 16 June have sizable positions at 35,000 and 36,000 call options and 34,500 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,300 and 35,600 levels. Its immediate support is at 33,800 and resistance is at 34,700 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.