Asian Markets Update @ 8:00 am
The SGX Nifty was trading higher by 338 points at 8:00 am, signalling a gap-up start for the Nifty50 today. Major Asian markets were also trading higher. In Japan, the Nikkei 225 jumped 3.3%, while Hong Kong's Hang Seng index gained 2.8%.
Global Markets Update
U.S. stocks closed sharply higher on Thursday in a head-spinning reversal as the investors shook off inflation data showing that consumer prices rose more than expected. Wall Street remained choppy after September’s inflation report showed prices rose 8.2% over the prior year and 0.4% over the prior month. The Core CPI, which excludes food and energy prices, rose 6.6% from a year ago and gained 0.6% month over month.
The Dow Jones rose 827 points, or 2.8%, to 30,038, while the S&P 500 broke its six-day losing streak and climbed 2.6% to 3,669. The tech-heavy Nasdaq Composite gained 2.2% and ended the day at 10,649. The European markets also closed yesterday’s session higher in the range of 0.3% to 1.5%.
Index Action
Nifty50 @ 17,014 📉▼ 109 (-0.6%)
Amid ongoing weak global cues, the Nifty50 opened lower and slipped to 16,950 levels. However, the index rebounded from the day's low and ended the volatile session marginally above the 17,000 mark.
Among major sectoral indices, Media (+0.2%) and Pharma (+0.2%) were the top gainers, while Nifty Bank (-1.2%) and Realty (-0.9%) were the top losers.
Nifty50’s options contracts expiring on 27 October are scattered and have sizable positions at 18,000 and 17,000 call options and 16,000 and 17,000 put options.
Nifty50’s options contracts expiring on 20 October have sizable positions at 17,000 and 17,700 call options and 17,000 and 16,500 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 16,000 and 17,800 levels. On the other hand, 16,700 and 17,300 are the critical levels to watch for the next week.
Bank Nifty @ 38,624 📉▼ 494 (-1.2%)
After a gap-down start, the Bank Nifty remained under pressure and closed the choppy session lower. All twelve stocks of the banking index ended in the red, with SBI (-2.3%) and Bank of Baroda (-2.2%) declining the most.
Bank Nifty’s options contracts expiring on 27 October have sizable positions at 41,000 and 39,000 call options and 38,000 and 39,000 put options.
Bank Nifty’s options contracts expiring on 20 October have sizable positions at 39,000 and 40,000 call options and 39,000 and 37,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 37,500 and 40,000 levels. On the other hand 38,200 and 39,300 are the critical levels to watch for the next week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹1,636 crore, while DIIs bought shares worth ₹753 crore. In the derivatives market, FIIs sold index futures worth ₹558 crore and bought index options worth ₹9,577 crore. Further, they sold stock futures worth ₹1,000 crore and bought stock options worth ₹93 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 0.5% to 20.29.
Stock Action📊
Long build-up was seen in GNFC, Hindalco, HCL Tech, Britannia and Marico.
Short build-up was seen in Wipro, SBI, Muthoot Finance, HDFC Bank and Indian Hotels.
Key results today: Bajaj Auto, Federal Bank, Oberoi Realty and Tata Elxsi.
Under F&O Ban: 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.
Download the Upstox App Today