Global Markets Update
SGX Nifty is trading in the red, down by 191 points. Major Asian markets are trading lower. In Japan, the Nikkei rose 0.4% (7 am), while Hong Kong and China markets are closed for a holiday.
The US markets tumbled on Friday after results from big tech companies failed to cheer the bulls. The Dow Jones dropped 2.7%, and the Nasdaq fell 4.1%. Globally, the focus will shift to the US Fed meeting, which will be held on May3-4. The European markets ended higher in the range of +0.4% to +0.8%.
Stock Action
Long build-up was seen in Deepak Nitrite, Atul Ltd, Ultratech Cement and Shree Cement.
Short build-up was seen in Gujarat Gas, Axis Bank, Mahanagar Gas, Alkem Labs and ICICI Lombard.
Major companies announcing results today are Britannia, HDFC and M&M Financial.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,648 crore, while DIIs were net buyers of ₹3,490 crore. In the derivatives market, FIIs bought index futures worth ₹441 crore and bought index options worth ₹11,271 crore. Further, they sold stock futures worth ₹358 crore and sold stock options worth ₹304 crore.
Index Action
Nifty50
On Friday, the Nifty50 traded in the green for most of the day but slipped sharply in the last hour of trade and ended with deep cuts. All the major sectoral indices closed in red, with Media and Oil & Gas being the top losers. With 38 of the Nifty50 stocks closing in the red, the headline index ended the day 142 points lower to 17,102.
The India VIX climbed 0.2% to 19.41.
The Nifty50’s options contracts expiring on May 26 are scattered and have sizable positions at 18,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on May 5 have sizable positions at 17,300 and 18,000 call options and 17,000 and 17,100 put options.
As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,800 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty came under heavy selling pressure and closed the day almost 1% lower. Among heavyweights, Axis Bank and SBI dragged the index lower, while Kotak Mahindra Bank and HDFC Bank cushioned the fall. On Friday, the Bank Nifty fell 334 points to 36,088.
The Bank Nifty’s options contracts expiring on May 26 are scattered and have sizable positions at 38,000 and 39,000 call options and 36,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on May 5 have sizable positions at 37,000 and 36,500 call options and 36,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,800 and 37,500 levels. Its immediate support is at 35,500 and resistance is at 36,900 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.