Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading higher by 54 points at 8 am, signalling a positive start for the NIFTY 50 today. In Japan, the Nikkei 225 rose 0.4%, while Hong Kong's Hang Seng index gained 0.2%.
Global Markets Update
U.S markets ended Wednesday's volatile session higher. The Dow Jones added 0.1%, while the tech-focused Nasdaq advanced 0.7%. European markets closed lower in the range of 0.3% to 1.5%.
Index Action
NIFTY 50 @ 18,003 📉▼ 66 (-0.3%)
After a gap down opening of nearly 300 points, NIFTY 50 made a sharp recovery from its intraday low and reclaimed the 18,000 mark. The headline index ended the day 66 points lower at 18,003.
Among major sectoral indices, PSU Bank (+1.7%) and Metal (+1.5%) advanced the most, while IT (-3.3%) and Oil & Gas (-0.8%) were the laggards.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 18,500 call options and 17,000 and 16,500 put options.
NIFTY 50’s options contracts expiring on 15 September have sizable positions at 18,100 and 18,200 call options and 17,900 and 17,800 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 18,200 levels.
BANK NIFTY @  41,405 📈▲ 532 (+1.3%)
BANK NIFTY shrugged off a market-wide sell-off and ended Wednesday's session 1.3% higher. Except for Axis Bank (-0.3%), all the other eleven stocks of the banking index closed higher, with IndusInd Bank (+4.4%), Bandhan Bank (+2.8%) and State Bank of India (+2.4%) being the top gainers.
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 41,500 and 42,500 call options and 40,000 and 40,500 put options.
As per the options data, the broad range for the BANK NIFTY is between 39,900 and 42,400 levels. Its immediate support is at 40,800 and resistance is at 41,900 levels.
FII and DII Data**
In the cash market, FIIs sold shares worth ₹1,397 crore, while DIIs bought shares worth ₹187 crore. In the derivatives market, FIIs sold index futures worth ₹2,030 crore and bought index options worth ₹981 crore. Further, they sold stock futures worth ₹1,740 crore and sold stock options worth ₹179 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 4.6% to 18.28 .
Stock Action📊
Long build-up was seen in ACC, RBL Bank, State Bank of India, Hindalco and India Cements.
Short build-up was seen in Infosys, L&T Technology Services, Tata Consumer, Coforge and Tata Consultancy Services.
Under F&O Ban: Delta Corp, Indiabulls Housing Finance and RBL Bank.
*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.