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F&O Morning Update for 2 September 2022

Blog | F&O

Asian Markets Update @8 am 🕖

SGX NIFTY is trading higher by 15 points, signalling a flat start for the NIFTY 50 today. Major Asian markets are trading lower. In Japan, the Nikkei 225 fell 0.2%, while Hong Kong’s Hang Seng index declined 0.7%.

Global Markets Update 

U.S. markets closed Thursday’s session on a mixed note as investors look ahead to the U.S. Jobs report for August, which will be released later today.

The Dow Jones rose 0.5% and snapped a four-day losing streak, while the tech-heavy Nasdaq closed 0.2% lower and extended losses for the fifth consecutive day. European markets closed lower in the range of -1.6% to -1.8%.


Index Action

NIFTY 50 @ 17,542 📉 216 (-1.2%)

Amid negative global cues, NIFTY 50 declined 1.2% and closed Thursday's volatile session in the red. Among sectors, Realty (+1.0%) and PSU Bank (+0.7%) were the top gainers, while IT (-1.9%) and Oil & Gas (-1.8%) cracked the most.   

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NIFTY 50’s options contracts expiring on 29 September are scattered and have sizable positions at 18,000 and 18,500 call options and 16,000 and 16,500 put options. 

NIFTY 50’s options contracts expiring on 8 September have sizable positions at 18,000 and 17,800 call options and 17,000 and 16,800 put options. 

As per options data, the broad range for the NIFTY 50 is between 16,600 and 18,200 levels. Its immediate support is at 17,300 and resistance is at 17,800 levels.

BANK NIFTY @39,301 📉 235 (-0.6%)

BANK NIFTY started the session on a strong note and climbed the 39,600 mark. However, selling pressure at higher levels dragged the index down, and it ended the day 0.6% lower.

Among stocks, AU Small Finance Bank (+2.2%) and Bank of Baroda (+1.9%) were the top gainers, while ICICI Bank (-1.4%) and Axis Bank (-0.9%) were the top losers. 

BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 40,000 and 39,500 call options and 40,000 and 38,000 put options. 

BANK NIFTY’s options contracts expiring on 8 September have sizable positions at 40,000 and 39,500 call options and 38,000 and 39,000 put options. 

As per the options data, the broad range for the BANK NIFTY is between 37,500 and 40,400 levels. Its immediate support is at 38,500 and resistance is at 39,800 levels. 


FII and DII Data**

In the cash market, FIIs were net sellers of ₹2,290 crore, while DIIs were net buyers of ₹951 crore. In the derivatives market, FIIs sold index futures worth ₹4,189 crore and bought index options worth ₹10,191 crore. Further, they sold stock futures worth ₹3,462 crore and sold stock options worth ₹111 crore.


India VIX 

The India VIX, a gauge of the market's volatility in the near term, climbed 6.2% to 19.87. 

Stock Action📊

Long build-up was seen in Bajaj Finserv, Ashok Leyland, GMR Infra, Tata Consumer Products and Tata Communications

Short build-up was seen in Reliance Industries, Hindalco, Voltas, Persistent Systems and NALCO.


*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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