Global Markets Update
The SGX Nifty is trading in the green, up by 25 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 0.1% and Hong Kong’s Hang Seng index climbed 1.1% at 7 am India time.
The US markets had a mixed closing. The Dow Jones climbed 0.08%, while the Nasdaq fell 1.2%. European markets too had a mixed closing in the range of -0.4% to +0.6%.
Stock Action
Long build-up was seen in Bajaj Finserv, ACC, Eicher Motors, ABFRL and RBL Bank.
Short build-up was seen in Honeywell Automation, Dr. Lal Pathlabs, Metropolis, Shree Cement and Vedanta.
Major companies announcing results today are Abbott India, Bharti Airtel, DLF and Dr. Lal Pathlabs.
F&O stocks in ban
Stocks in ban: GNFC, Indiabulls Housing Finance and PNB
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,788 crore, while DIIs were net buyers of ₹1,428 crore. In the derivatives market, FIIs bought index futures worth ₹980 crore and sold index options worth ₹1,479 crore. Further, they bought stock futures worth ₹2,039 crore and bought stock options worth ₹90 crore.
Index Action
Nifty50
Amid positive global cues and recovery in banking and auto stocks helped the Nifty50 index end its six-day losing streak. However, losses in IT, pharma and FMCG stocks dragged the index lower from its intraday high of 15,977. It closed 60 points higher at 15,842.
The India VIX climbed 4.4% to 24.52.
The Nifty50’s options contracts expiring on 26 May have sizable positions at 17,000 and 16,000 call options and 16,000 and 15,000 put options.
The Nifty50’s options contracts expiring on 19 May have sizable positions at 16,200 and 16,500 call options and 15,800 and 15,500 put options.
As per options data, the broad range for Nifty50 is between 15,100 and 16,800 levels. Its immediate support is at 15,600 and resistance is at 16,100 levels.
Bank Nifty
The Bank Nifty jumped 1.4% and outperformed the Nifty50 index by 1%, aided by gains in both PSU and private bank indices. All the 12 stocks of the index closed in green, with Bandhan Bank and Bank of Baroda being the top gainers. The Bank Nifty jumped over 1% to close at 33,597.
The Bank Nifty’s options contracts expiring on 26 May have sizable positions at 36,000 and 35,000 call options and 33,000 and 32,000 put options.
The Bank Nifty50’s options contracts expiring on 19 May have sizable positions at 34,000 and 34,500 call options and 33,000 and 32,500 put options.
As per the options data, the broad range for the Bank Nifty is between 32,000 and 34,400 levels. Its immediate support is at 32,800 and resistance is at 34,000 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.
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