Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 54 points at 7:30 am, indicating a negative start for the Nifty50 today. Major Asian markets were trading in the red. Nikkei 225 in Japan fell 0.3% while Hong Kong’s Hang Seng index slipped 1.9%.
Global Markets Update
U.S. markets slipped in trade on Wednesday as better-than-expected retail sales data revived concerns of more hawkish monetary policy by the Fed.
The Dow Jones fell 0.1% to 33,553, while the S&P 500 slipped 0.8% to close at 3,958. The tech-focused Nasdaq Composite dipped 1.5% and closed at 11,183. The European markets closed Monday’s session on a negative note, in the range of -0.2% to -1.0%.
Index Action
Nifty50 @ 18,409 📈▲ 6 (+0.03%)
The Nifty50 had a muted day as it traded in a narrow range and ended flat with a positive bias. Among major sectoral indices, Financial Services (+0.3%) and PSU Bank (+0.2%) were the top gainers while Metal (-1.9%) and Media (-1.4%) were the top losers.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,400 and 19,000 call options and 18,000 and 18,300 put options.
Nifty50’s options contracts expiring on 17 November have sizable positions at 18,500 and 18,400 call options and 18,400 and 18,300 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,900 and 18,800 levels. On the other hand, 18,000 and 18,600 are the critical levels to watch for next week.
Bank Nifty @ 42,535 📈▲ 162 (+0.3%)
The Bank Nifty hit fresh all-time highs and settled above 42,500. Among stocks, Kotak Mahindra Bank (+2.8%) and HDFC Bank (+0.8%) advanced the most, while Federal Bank (-2.1%) and Bandhan Bank (-1.8%) declined the most.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,500 and 43,000 call options and 42,000 and 41,500 put options.
Bank Nifty’s options contracts expiring on 17 November have sizable positions at 42,500 and 43,000 call options and 42,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,300 and 43,300 levels. On the other hand 41,800 and 42,700 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹386 crore, while DIIs bought shares worth ₹1,437 crore. In the derivatives market, FIIs bought index futures worth ₹1,845 crore and bought index options worth ₹4,967 crore. Further, they sold stock futures worth ₹693 and sold stock options worth ₹18 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 3.1% to 15.10.
Stock Action📊
Long build-up was seen in HAL, Balrampur Chini, Siemens, BEL and Kotak Mahindra
Bank.
Short build-up was seen in Metropolis, AU Small Finance Bank, Apollo Tyres,
ICICI Prudential and Indiabulls Housing Finance.
Under F&O Ban: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance
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.