Asian Markets Update @ 8:00 am
The SGX Nifty was trading higher by 65 points at 8:00 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading in the green. Nikkei 225 in Japan rose 0.3% while Hong Kong’s Hang Seng index climbed 3.1%.
Global Markets Update
After last week’s rally, U.S. markets ended lower on Monday even as Fed officials insisted on future rate hikes but likely at a slower pace.
The Dow Jones fell 0.6% to 33,536, while the S&P 500 slipped 0.8% to close at 3,957. The tech-focused Nasdaq Composite fell 1.1% and closed at 11,196. The European markets closed Monday’s session on a positive note, in the range of 0.2% to 0.9%.
Index Action
Nifty50 @ 18,329 📉▼ 20 (-0.1%)
Amid weak Asian markets and despite lower than expected WPI inflation number, the Nifty50 ended marginally lower. Among major sectoral indices, Metal (+1.7%) and Realty (+1.1%) were the top gainers while Media (-2.4%) and FMCG (-1.3%) were the top losers.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,300 and 19,000 call options and 17,000 and 18,000 put options.
Nifty50’s options contracts expiring on 17 November have sizable positions at 18,500 and 18,400 call options and 18,000 and 18,300 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,700 and 18,700 levels. On the other hand, 18,000 and 18,500 are the critical levels to watch for next week.
Bank Nifty @ 42,076 📉▼ 60 (-0.1%)
The Bank Nifty slipped below 42,000 but managed to close above that mark. Among stocks, AU Small Finance Bank (+2.0%) and Bank of Baroda (+1.3%) advanced the most, while PNB (-1.7%) and SBI (-1.4%) declined the most.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,000 and 43,000 call options and 40,000 and 41,500 put options.
Bank Nifty’s options contracts expiring on 17 November have sizable positions at 42,000 and 42,200 call options and 42,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 43,000 levels. On the other hand 41,500 and 42,500 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹1,089 crore, while DIIs bought shares worth ₹47 crore. In the derivatives market, FIIs sold index futures worth ₹696 crore and sold index options worth ₹1,672 crore. Further, they sold stock futures worth ₹853 and bought stock options worth ₹26 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 3.4% to 14.91.
Stock Action📊
Long build-up was seen in Abbott India, L&T Infotech, JK Cement, Coforge and Hindalco.
Short build-up was seen in Sun TV, Bharat Forge, BHEL, Max Financial Services and ABB.
Under F&O Ban: BHEL, GNFC, PNB and Sun TV
*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.