Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading lower by 3 points at 8 am, signalling a flat start for the NIFTY 50 today. In Hong Kong, the Hang Seng index plunged 1.2%, while Japan’s market was closed on account of a holiday.
Global Markets Update
U.S markets ended lower on Friday, falling near a two-month low. This comes after the delivery giant FedEx withdrew its full-year earnings guidance, and its shares plunged by 21%.
The Dow Jones fell 0.4%, while the tech-focused Nasdaq slipped 0.9%. European markets closed lower in the range of 0.6% to 1.6%.
Index Action
NIFTY 50 @ 17,530 📉▼ 346 (-1.9%)
Amid weak global cues, NIFTY 50 posted its single biggest fall in the last three months and closed Friday's session lower. The index wiped out all its previous week's gains and declined 1.7% for the week.
All the major sectoral indices ended in the red, with Media (-4.0%), Realty (-3.7%) and IT (-3.7%) losing the most.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 18,500 call options and 17,500 and 16,500 put options.
NIFTY 50’s options contracts expiring on 22 September have sizable positions at 18,000 and 17,800 call options and 17,500 and 17,000 put options.
BANK NIFTY @ 40,776 📉▼ 432 (-1.0%)
Amid overall market weakness, BANK NIFTY also came under selling pressure and closed Friday's session lower. However, the banking index outperformed the NIFTY 50 and closed 0.8% higher for the week. Except for IndusInd Bank (+2.6%), all the other eleven stocks of the index ended lower, with Bandhan Bank (-5.1%) and IDFC First Bank (-3.4%) being the top losers.Â
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 42,000 and 41,000 call options and 38,000 and 40,000 put options.
BANK NIFTY’s options contracts expiring on 22 September have sizable positions at 41,500 and 42,000 call options and 40,000 and 39,000 put options.
As per the options data, the broad range for the BANK NIFTY is between 39,400 and 41,800 levels. Its immediate support is at 40,000 and resistance is at 41,200 levels.
FII and DII Data**
In the cash market, FIIs sold shares worth ₹3,260 crore, while DIIs offloaded shares worth ₹36 crore. In the derivatives market, FIIs bought index futures worth ₹837 crore and bought index options worth ₹6,863 crore. Further, they sold stock futures worth ₹3,466 crore and bought stock options worth ₹110 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 7.7% to 19.82.
Stock Action📊
Long build-up was seen in Delta Corp.
Short build-up was seen in India Cements, Muthoot Finance, UltraTech Cement, Cholamandalam Investment and Godrej Consumer Products.
Under F&O Ban: Indiabulls Housing Finance, India Cements, PVR and RBL 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.