Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading higher by 100 points at 8 am, signalling a positive start for the NIFTY 50 today. Major Asian markets also gained ground. In Japan, the Nikkei 225 rose 0.1%, while Hong Kong's Hang Seng index added 0.2%
Global Markets Update
U.S markets extended their winning streak on Monday ahead of the release of the U.S inflation report. All three major stock indexes closed in green, led by a rally in energy and tech stocks.
The Dow Jones jumped 0.7%. The S&P 500 added 1.06%, while the tech-focused Nasdaq advanced 1.2%. European markets closed higher in the range of 1.6% to 2.4%.
Index Action
NIFTY 50 @ 17,936 📈 ▲ 103 (+0.5%)
NIFTY 50 index extended its gains and closed in the green for the third day in a row. The index maintained its opening gains throughout the day and saw a minor profit booking towards the session's close.
All the major sectoral indices ended in the green, with Realty (+2.2%), Media (+1.9%) and IT (+1.4%) being the biggest gainers.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 19,000 call options and 16,000 and 16,500 put options.
NIFTY 50’s options contracts expiring on 15 September have sizable positions at 18,000 and 18,200 call options and 17,900 and 17,800 put options.
As per options data, the broad range for the NIFTY 50 index is between 17,000 and 18,600 levels. Its immediate support is at 17,750 and resistance is at 18,200 levels.
BANK NIFTY @ 40,574 📈▲ 158 (+0.3%)
BANK NIFTY opened higher but faced resistance near the previous day's high of 40,685. Post 10 am, the banking index oscillated in a 150-point range and closed the session 158 points higher at the 40,574 mark.
Among stocks, PNB (+2.8%) and Axis Bank (+2.0%) were the top gainers, while Bandhan Bank (-1.6%) and HDFC Bank (-0.3%) were the top losers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 42,000 and 41,000 call options and 38,000 and 40,000 put options.
BANK NIFTY’s options contracts expiring on 15 September have sizable positions at 40,500 and 41,000 call options and 40,500 and 39,500 put options.
As per the options data, the broad range for the BANK NIFTY index is between 39,200 and 41,800 levels. Its immediate support is at 39,900 and resistance is at 41,000 levels.
FII and DII Data**
In the cash market, FIIs bought shares worth ₹2,049 crore, while DIIs sold shares worth ₹890 crore. In the derivatives market, FIIs bought index futures worth ₹928 crore and bought index options worth ₹1,795 crore. Further, they sold stock futures worth ₹433 crore and sold stock options worth ₹5 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 1.2% to 17.93.
Stock Action📊
Long build-up was seen in Atul Ltd, Aarti Industries, Hindustan Aeronautics, Punjab National Bank and DLF.
Short build-up was seen in Indiabulls Housing Finance, Coal India, Max Financial Services, Laurus Labs and Dabur.
Under F&O Ban: Ambuja Cements, Delta Corp and Indiabulls Housing Finance.
*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.