Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 49 points at 7:30 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan fell 1.1%, while Hong Kong’s Hang Seng index advanced 0.4%.
Global Markets Update
U.S stocks finished lower on Friday, booking two straight weeks of losses. The Dow Jones declined 0.8% to 32,920, while the S&P 500 fell more than 1% to finish at 3,852. The tech-focused Nasdaq slid 0.9% and ended the session at 10,705.
Index Action
Nifty50 @ 18,269 📉▼ 145 (-0.7%)
The Nifty50 index extended the losses for the second day in a row and closed Friday's session in the red. With negative global cues and Foreign Institutional Investors (FIIs) remaining net sellers in the previous week, the 50-pack index closed lower for the second consecutive week.
Nifty50’s options contracts expiring on 29 December have sizable positions at 19,000 and 18,500 call options and 18,000 and 18,300 put options.
Nifty50’s options contracts expiring on 22 December have sizable positions at 18,600 and 18,400 call options and 18,000 and 18,100 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,800 and 18,800 levels. On the other hand, 18,000 and 18,600 are the critical levels to watch for the current week.
Bank Nifty @ 43,219 📉▼ 278 (-0.6%)
After hitting a fresh all-time high, the banking index took a breather and witnessed profit booking last week. The 12-pack index also snapped its 10-week winning streak and slipped below the previous week’s close.
Except for HDFC Bank (+0.4%), all eleven stocks of the banking index closed in the red, with Punjab National Bank (-4.3%) and SBI (-2.0%) declining the most.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 44,000 and 45,000 call options and 43,000 and 42,000 put options.
Bank Nifty’s options contracts expiring on 22 December have sizable positions at 44,000 and 43,500 call options and 43,200 and 43,000 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,500 and 44,000 levels. On the other hand 43,000 and 43,500 are the critical levels to watch for the current week.
FII and DII Data**💰
On Friday, the FIIs sold shares worth ₹1,975 crore, while DIIs bought shares worth ₹1,542 crore in the cash market. In the derivatives market, FIIs bought index futures and options worth ₹513 crore and ₹1,834 crore. Further, they bought stock futures worth ₹266 crore and bought stock options worth ₹20 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 2.4% to 14.07.
Stock Action📊
Long build-up was seen in Balrampur Chini, Tata Motors, PI Industries, Hindustan Unilever and Chambal Fertilisers.
Short build-up was seen in Dr. Reddy’s, Mphasis, Bharat Electronics, Navin Fluorine and TCS.
Under F&O Ban: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and Punjab National Bank.
*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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