Asian Markets Update @7 am
The SGX Nifty is trading lower by 42 points, signalling a negative start for the Nifty50 today. Major Asian markets are trading flat. In Japan, the Nikkei rose 0.2%, while Hong Kong’s Hang Seng index climbed 0.02%.
Global Markets Update
The US markets closed lower after consumer price inflation accelerated to 9.1% in June to a new four-decade high. The Dow Jones slipped 0.6%, while the Nasdaq lost 0.1%. The European markets closed lower in the range of -0.7% to -1.1%.
Stock Action
Long build-up was seen in Mindtree, Dabur, Syngene International, LTI and Berger Paints.
Short build-up was seen in IndusInd Bank, Navin Fluorine, TCS, HDFC Bank and HAL.
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,839 crore, while DIIs were net buyers of ₹1,799 crore. In the derivatives market, FIIs bought index futures worth ₹566 crore and sold index options worth ₹3,918 crore. Further, they bought stock futures worth ₹11 crore and sold stock options worth ₹37 crore.
Index Action
Nifty50
The Nifty50 gave up opening gains and ended lower for the third straight day, dragged by losses in index heavyweights Reliance Industries and HDFC twins. Among sectors, financials, oil & gas, and IT were the biggest losers, while pharma, FMCG and metal ended with gains. The Nifty50 lost 91 points and closed at 15,966.
The India VIX, a gauge of the market's volatility in the near term, slipped 0.1% to 18.52.
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 15,800 and 15,700 put options.
As per options data, the broad range for the Nifty50 is between 15,200 and 16,700 levels. Its immediate support is at 15,700 and resistance is at 16,200 levels.
Bank Nifty
The Bank Nifty slipped below the 35,000 mark and ended nearly 1% lower. Among stocks, IndusInd Bank and HDFC Bank were the biggest losers, while Kotak Mahindra Bank and Axis Bank ended with gains. The Bank Nifty fell 304 points and closed the day at 34,827.
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 35,300 call options and 34,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 33,800 and 36,000 levels. Its immediate support is at 34,400 and resistance is at 35,300 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
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