Asian Markets Update @7 am 🕖
SGX Nifty is trading lower by 40 points, signalling a negative start for the Nifty50 today. Major Asian markets are also trading lower. In Japan, the Nikkei fell 0.1%, while Hong Kong’s Hang Seng index slipped 0.3%.
Global Markets Update
US markets closed Thursday's choppy session higher. The Dow Jones rose 0.06%, while the tech-focused Nasdaq climbed 0.2%. The European markets ended higher in the range of +0.3% to +0.5%.
Index Action
Nifty50 @ 17,956 📈▲ 12 (+0.07%)
Despite negative global cues, the Nifty50 closed Thursday's volatile session higher with marginal gains. The index recovered all its intraday losses and extended its winning streak to the eighth session in a row. Among sectors, Realty (+1.5%) and Metal (+0.9%) were the top gainers, while IT (-0.7%) and Oil & Gas (-0.6%) were the top losers.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 18,000 and 17,900 call options and 17,900 and 17,800 put options.
As per options data, the broad range for the Nifty50 is between 17,000 and 18,500 levels. Its immediate support is at 17,800 and resistance is at 18,200 levels.
Bank Nifty @39,656 📈▲ 194 (+0.4%)
The Bank Nifty also recouped its losses and closed Thursday's choppy session higher. Among stocks, Kotak Mahindra Bank (+3.5%) and IndusInd Bank (+1.5%) were the top gainers, while Bank of Baroda (-2.1%) and IDFC First Bank (-1.0%) were the top losers.
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 39,500 and 40,000 call options and 38,000 and 39,000 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 sellers of ₹1,706 crore, while DIIs were net buyers of ₹470 crore. In the derivatives market, FIIs sold index futures worth ₹1,652 crore and bought index options worth ₹11,143 crore. Further, they sold stock futures worth ₹1,431 crore and bought options worth ₹183 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 1.8% to 17.35.
Stock Action📊
Long build-up was seen in Dixon Technologies, RBL Bank, United Breweries, Ambuja Cements and Ramco Cements.
Short build-up was seen in Ashok Leyland, Dr.Reddy’s, Oracle Financial Services Software, Wipro and ONGC.
Stocks in F&O ban: Balrampur Chini and Delta Corp.
*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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