Asian Markets Update @7 am
The SGX Nifty is trading lower by 124 points, signalling a negative start for the Nifty50 today. Major Asian markets are trading mixed. In Japan, the Nikkei rose 0.7%, while Hong Kong’s Hang Seng index slipped 0.5%.
Global Markets Update
The US markets started the week on a negative note and gave up all their intraday gains. The Dow Jones fell 0.6%, while the Nasdaq slipped 0.8%. The European markets closed higher in the range of +0.7% to +0.9%.
Stock Action
Long build-up was seen in Persistent Systems, AU Small Finance Bank, Federal Bank, L&T Technology Services and Piramal Enterprises.
Short build-up was seen in Zydus Lifesciences, HDFC Bank, Laurus Labs, Godrej Consumer and Britannia.
Stock in F&O Ban: Delta Corp.
Results today: HUL, HDFC Life, ICICI Lombard, Polycab and AU Small Finance Bank.
FII/DII Activity**
In the cash market, both FIIs and DIIs were net buyers of ₹156 crore and ₹844 crore. In the derivatives market, FIIs bought index futures worth ₹1,395 crore and bought index options worth ₹1,340 crore. Further, they bought stock futures worth ₹118 crore and bought stock options worth ₹84 crore.
Index Action
Nifty50
The Nifty50 ended in the green for the second consecutive day and closed near day's high. The Nifty50 jumped 229 points to 16,278. Sectorally, barring pharma and FMCG, all the major sectoral indices closed in green. The IT, metal and bank indices closed on a positive note and registered gains of more than 2%.
The India VIX, a gauge of the market's volatility in the near term, slipped 2.4% to 17.16.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 17,000 and 16,500 call options and 15,500 and 16,000 put options.
The Nifty50’s options contracts expiring on 21 July have sizable positions at 16,600 and 16,500 call options and 16,000 and 16,200 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 16,800 levels. Its immediate support is at 16,000 and resistance is at 16,400 levels.
Bank Nifty
The Bank Nifty moved higher and closed comfortably above the 35,300 mark. Barring HDFC Bank, all the eleven stocks of the index closed in green, with IndusInd Bank and IDFC First Bank being the top gainers. The Bank Nifty surged 676 points and closed the day at 35,358.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 35,000 and 36,000 call options and 35,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 21 July have sizable positions at 35,500 and 36,000 call options and 35,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,200 and 36,300 levels. Its immediate support is at 34,800 and resistance is at 35,800 levels.
*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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