Asian Markets Update
SGX NIFTY was trading lower by 115 points at 8:30 am, signalling a negative start for the NIFTY 50 today. In Japan, the Nikkei 225 declined 1.0%, while Hong Kong's Hang Seng fell 0.4%.
Global Markets Update
U.S markets ended Thursday's choppy trading session lower. The Dow Jones dropped 0.5%, while the tech-focused Nasdaq fell 1.4%. European markets closed mixed in the range of +0.05% and -0.5%.
Index Action
NIFTY 50 @ 17,877 📉▼ 126 (-0.7%)
NIFTY 50 gave up its opening gains and closed Thursday's volatile trading session lower, dragged by IT, oil & gas and financial stocks.
Among the sectoral indices, Auto (+0.7%) and Metal (+0.1%) were the only gainers, while Media (-2.1%) and IT (-1.4%) were the top losers.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 18,500 call options and 17,500 and 16,500 put options.
NIFTY 50’s options contracts expiring on 22 September have sizable positions at 18,000 and 18,500 call options and 17,800 and 17,600 put options.
As per options data, the broad range for the NIFTY 50 is between 16,800 and 18,600 levels. Its immediate support is at 17,700 and resistance is at 18,000 levels.
BANK NIFTY @ 41,209 📉▼ 196 (-0.4%)
BANK NIFTY started the session on a positive note and hit an all-time high of 41,840 in the opening trade. However, the selling pressure at higher levels dragged the index down. Among stocks, IDFC First Bank (+3.6%) and Federal Bank (+1.0%) were the top gainers, while IndusInd Bank (-1.6%) and Axis Bank (-1.6%) were the top losers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 42,000 and 41,500 call options and 38,000 and 39,000 put options.
BANK NIFTY’s options contracts expiring on 22 September have sizable positions at 41,500 and 42,500 call options and 40,000 and 41,000 put options.
As per the options data, the broad range for the BANK NIFTY is between 39,900 and 42,200 levels. Its immediate support is at 40,500 and resistance is at 41,800 levels.
FII and DII Data**
In the cash market, FIIs sold shares worth ₹1,270 crore, while DIIs sold shares worth ₹928 crore. In the derivatives market, FIIs sold index futures worth ₹943 crore and bought index options worth ₹3,682 crore. Further, they sold stock futures worth ₹3,452 crore and bought stock options worth ₹198 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 0.6% to 18.39 .
Stock Action📊
Long build-up was seen in Apollo Tyres, Granules, Eicher Motors, Balkrishna Industries and Mahanagar Gas Ltd.
Short build-up was seen in PVR, Infosys, Biocon, Bajaj Finserv, Hindalco and Bharat Electronics.
Under F&O Ban: 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.