Asian Markets Update @ 8:00 am
The SGX Nifty was trading higher by 48 points at 8:00 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading in the green. Nikkei 225 was up by 0.1% while Hong Kong’s Hang Seng index climbed 1.5%.
Global Markets Update
US markets recovered early losses but ended lower even as investors weighed further comments from Federal Reserve officials calling for more rate hikes, raising concerns about a deeper recession.
The Dow Jones fell 0.02% to 33,546, while the S&P 500 slipped 0.3% to close at 3,946. The tech-focused Nasdaq Composite dipped 0.3% and closed at 11,144. The European markets closed Monday’s session on a mixed note, in the range of 0.2% to -0.4%.
Index Action
Nifty50 @ 18,343 📉▼ 65 (-0.3%)
The Nifty50 had a muted session in the first half of the day but saw some profit booking in the second half and ended in the red with a negative bias. Among major sectoral indices, PSU Banks (+0.8%) and Realty (+0.1%) were the top gainers while Auto (-1.4%) and Media (-1.0%) were the top losers.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,400 and 18,500 call options and 18,000 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 @ 42,458 📉▼ 77 (-0.1%)
The Bank Nifty also saw profit booking at higher levels after touching all time highs. Among stocks, Federal Bank (+1.2%) and ICICI Bank (+0.5%) advanced the most, while AU Bank (-2.0%) and Bandhan Bank (-1.7%) 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.
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 42,000 and 42,600 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹618 crore, while DIIs also bought shares worth ₹449 crore. In the derivatives market, FIIs sold index futures worth ₹408 crore and bought index options worth ₹6,861 crore. Further, they bought stock futures worth ₹587 and bought stock options worth ₹136 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 1.4% to 14.88.
Stock Action📊
Long build-up was seen in Exide Industries, Tata Consumer Products, REC, Larsen
Toubro and BEL.
Short build-up was seen in Metropolis, Info Edge, NTPC, BPCL and Navin Fluorine.
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.