Global Markets Update
The SGX Nifty is trading in the green, up by 13 points. Major Asian markets are trading mixed. In Japan, the Nikkei fell more than 2%, while Hong Kong’s Hang Seng index advanced 0.3% at 7 am India time.
Amid heightened volatility, the US markets fell sharply on Thursday, sending the Dow Jones below the 30,000-mark for the first time since January 2021. The Dow dropped 2.4%, while the Nasdaq slipped 4.0%. European markets ended lower in the range of 2.3% to 3.3%.
Stock Action
Long build-up was seen in Indus Towers, Nippon Life and Nestle.
Short build-up was seen in Navin Fluorine, Voltas, Coal India, Ramco Cements and JK Cement.
F&O stocks in ban
Stocks in ban: Delta Corp, Indiabulls Housing Finance and RBL Bank
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,257 crore, while DIIs were net buyers of ₹1,929 crore. In the derivatives market, FIIs sold index futures worth ₹1,528 crore and bought index options worth ₹10,049 crore. Further, they sold stock futures worth ₹1,394 crore and bought stock options worth ₹114 crore.
Index Action
Nifty50
Following weak global cues, the Nifty50 hit a fresh 52-week low and ended lower for the fifth straight session. The headline index erased all its opening gains, dipped 331 points, and closed at 15,360.
The India VIX climbed 3.2% to 22.86.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 16,000 and 16,500 call options and 15,500 and 15,000 put options.
The Nifty50’s options contracts expiring on 23 June have sizable positions at 16,000 and 15,700 call options and 15,000 and 15,500 put options.
As per options data, the broad range for the Nifty50 is between 14,700 and 16,200 levels. Its immediate support is at 15,100 and resistance is at 15,700 levels.
Bank Nifty
The Bank Nifty slipped below the 33,000-mark and declined more than 1200 points from its intraday high. Both PSU and Private bank indices ended with cuts of more than 2%, and all the 12 stocks of the index closed in the red. The Bank Nifty fell 721 points and closed the day at 32,617
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 35,000 and 34,500 call options and 32,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on 23 June have sizable positions at 33,500 and 34,000 call options and 32,000 and 32,500 put options.
As per the options data, the broad range for the Bank Nifty is between 31,800 and 33,800 levels. Its immediate support is at 32,200 and resistance is at 33,300 levels.
*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.