Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading lower by 316 points at 8 am, signalling a negative start for the NIFTY 50 today. In Japan, the Nikkei 225 fell 2.1%, while Hong Kong's Hang Seng index declined 2.6%.
Global Markets Update
U.S stocks nosedived on Tuesday after the release of the inflation data, which decelerated to 8.3% on a yearly basis in August from 8.5% in July. However, the reading was slightly above the market forecast of 8.1%.
The Dow Jones plunged 3.9%, while the tech-focused Nasdaq tumbled 5.1%. European markets closed lower in the range of 1.1% to 1.5%.
Index Action
NIFTY 50 @ 18,070 📈 ▲ 133 (+0.7%)
Following positive global cues and sustained inflows from FIIs, the NIFTY 50 opened higher and reclaimed the psychologically crucial 18,000 mark on Monday. The headline index closed at 18,070, the highest close since January 18.
Among major sectoral indices, Metal (+1.2%) and Financial Services (+0.9%) were the top gainers, while Realty (-0.1%) and Oil & Gas (-0.1%) closed flat.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 18,500 call options and 16,000 and 16,500 put options.
NIFTY 50’s options contracts expiring on 15 September have sizable positions at 18,500 and 18,100 call options and 18,000 and 17,900 put options.
As per options data, the broad range for the NIFTY 50 is between 17,000 and 18,600 levels. Its immediate support is at 17,800 and resistance is at 18,250 levels.
BANK NIFTY @ 40,873 📈▲ 299 (+0.7%)
BANK NIFTY also started the session on a strong note, sustained the morning gains throughout the day, and closed 0.7% higher. Among stocks, Bandhan Bank (+3.3%) and IndusInd Bank (+2.3%) advanced the most, while Punjab National Bank (-1.3%) and IDFC First Bank (-1.2%) were the laggards.
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 41,000 and 42,000 call options and 39,500 and 40,500 put options.
As per the options data, the broad range for the BANK NIFTY is between 39,400 and 41,800 levels. Its immediate support is at 39,900 and resistance is at 41,200 levels.
FII and DII Data**
In the cash market, FIIs bought shares worth ₹1,956 crore, while DIIs sold shares worth ₹1,268 crore. In the derivatives market, FIIs bought index futures worth ₹2,936 crore and sold index options worth ₹2,234 crore. Further, they sold stock futures worth ₹1,244 crore and sold stock options worth ₹198 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 2.6% to 17.47.
Stock Action📊
Long build-up was seen in Polycab, Max Financial Services, Sun TV, L&T Finance and Hindustan Copper.
Short build-up was seen in Crompton Greaves, Page Industries, Tata Communications, Indus Towers and Astral.
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.
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