Asian Markets Update @8 am 🕖
SGX Nifty is trading lower by 31 points, signalling a negative start for the Nifty50 today. Major Asian markets opened lower on Thursday. In Japan, the Nikkei fell 0.8%, while Hong Kong’s Hang Seng index slipped 0.5%.
Global Markets Update
US markets closed Wednesday's volatile session lower after the US Fed published minutes from its July meeting. The Dow Jones fell 0.5%, while the tech-heavy Nasdaq slipped 1.2%. The European markets ended lower in the range of -0.2% to -2%.
Index Action
Nifty50 @ 17,944 📈▲ 119 (+0.6%)
Following positive global cues, the Nifty50 index closed higher for the seventh day in a row and climbed the 17,900-mark. Among indices, barring Auto (-0.4%), all the sectoral indices closed in the green. PSU Bank registered gains of more than 2%, while Media (+1.4%) and IT(+1.1%) advanced more than one per cent each.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 18,000 and 18,500 call options and 17,500 and 17,600 put options.
The Nifty50’s options contracts expiring on 18 August have sizable positions at 18,000 and 18,100 call options and 17,800 and 17,900 put options.
As per options data, the broad range for the Nifty50 is between 16,900 and 18,500 levels. Its immediate support is at 17,700 and resistance is at 18,100 levels.
Bank Nifty @39,461 📈▲ 222 (+0.5%)
The Bank Nifty index rose 0.5% and crossed the psychologically crucial 39,500-mark. However, the selling pressure at higher levels dragged the index lower, and it ended the day at 39,461, up 222 points. Among stocks, Bank of Baroda (+4.1%) and Punjab National Bank (+2.6%) were the top gainers, while Federal Bank (-0.5%) and Kotak Mahindra Bank (-0.3%) were the top losers.
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 40,000 and 39,500 call options and 38,000 and 39,000 put options.
The Bank Nifty’s options contracts expiring on 18 August have sizable positions at 40,000 and 39,500 call options and 39,000 and 38,800 put options.
As per the options data, the broad range for the Bank Nifty is between 38,000 and 40,400 levels. Its immediate support is at 38,800 and resistance is at 39,800 levels.
FII/DII Activity**💰
In the cash market, FIIs were net buyers of ₹2,347 crore, while DIIs were net sellers of ₹510 crore. In the derivatives market, FIIs bought index futures worth ₹7 crore and bought index options worth ₹5,437 crore. Further, they sold stock futures worth ₹1,030 crore and sold options worth ₹31 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 0.06% to 17.68.
Stock Action📊
Long build-up was seen in Whirlpool, Birlasoft, Apollo Tyres, Hindustan Copper and Bajaj Finserv.
Short build-up was seen in Alkem Labs, Shriram Transport Finance, Ashok Leyland, Petronet LNG and PVR.
Stocks in F&O ban: Balrampur Chini, Delta Corp and Tata Chemicals.
*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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