Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 63 points at 7:30 am, suggesting a negative start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan fell 1.9%, while Hong Kong’s Hang Seng index gained 0.2%.
Global Markets Update
U.S. stocks closed Thursday’s choppy session mixed as investors looked forward to the U.S. jobs report for further clues on the Federal Reserve’s next policy steps.
The Dow Jones declined 0.5% to 34,395, while the S&P 500 closed flat at 4,076 with a negative bias. The tech-heavy Nasdaq was an outlier, gained 0.1%, and ended at 11,482.
Index Action
Nifty50 @ 18,812 📈▲ 54 (+0.29%)
The Nifty50 index extended winning momentum for the eighth day in a row and closed higher. However, due to profit booking at higher levels, the index trimmed its gains towards the close.
Nifty50’s options contracts expiring on 29 December have sizable positions at 19,000 and 20,000 call options and 18,000 and 18,500 put options.
Nifty50’s options contracts expiring on 8 December have sizable positions at 18,800 and 19,000 call options and 18,800 and 18,600 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 18,200 and 19,500 levels. On the other hand, 18,600 and 19,200 are the critical levels to watch for the current week.
Bank Nifty @ 43,260 📈▲ 29 (+0.07%)
After a gap-up start, the Bank Nifty faced selling pressure around the 43,500 mark and closed the volatile session flat. From the 12-share pack, Punjab National Bank (+3.8%) and Bank of Baroda (+3.3%) were the top gainers. On the other hand, ICICI Bank (-1.3%) and Bandhan Bank (-1.2%) ended the session with cuts.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 44,000 call options and 43,000 and 42,500 put options.
Bank Nifty’s options contracts expiring on 8 December have sizable positions at 43,500 and 44,000 call options and 43,000 and 42,000 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,200 and 44,200 levels. On the other hand 42,800 and 43,600 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth 1,565 crore, while DIIs bought shares worth ₹2,664 crore. In the derivatives market, FIIs sold index futures worth ₹526 and bought index options worth ₹8,088 crore. Further, they bought stock futures worth ₹941 crore and sold stock options worth ₹253 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 3.2% to 13.36.
Stock Action📊
Long build-up was seen in Astral, Gujarat Gas, Rain Industries, Persistent Systems and Bajaj Finserv.
Short build-up was seen in Granules, Coal India, Bharat Electronics, Samvardhana Motherson and ONGC.
Under F&O Ban: BHEL, Delta Corp, Indiabulls Housing Finance 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.