Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 23 points at 7:30 am, indicating a flat to negative start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan rose 0.3%, while Hong Kong’s Hang Seng index fell 0.3%.
Global Markets Update
The U.S. stocks closed lower for the fourth day in a row and finished at their lowest levels since early November. As recession fears dominate Wall Street, the Dow Jones finished Monday's session 0.5% lower at 32,757, while S&P 500 declined 0.9% to close at 3,817. The tech-heavy Nasdaq Composite tumbled 1.4% and ended the session at 10,546.
Index Action
Nifty50 @18,420 📈▲ 151 (+0.8%)
After a flat start, the Nifty50 index found support at the 18,250 level, recovered Friday's losses and climbed the 18,400 mark on a closing basis. Except for IT (-0.5%), all the major sectoral indices participated in the rally and closed higher.
Among major sectoral indices, the Auto (+1.5%) sector topped the charts. FMCG (+1.4%) and Metal (+1.2%) advanced and inched closer to respective 52-week highs.
Nifty50’s options contracts expiring on 29 December have sizable positions at 19,000 and 18,500 call options and 18,000 and 18,300 put options.
Nifty50’s options contracts expiring on 22 December have sizable positions at 18,600 and 18,700 call options and 18,000 and 18,300 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 18,000 and 18,800 levels. On the other hand, 18,200 and 18,600 are the critical levels to watch for the current week.
Bank Nifty @ 43,413 📈▲ 194 (+0.4%)
The Bank Nifty index also staged a smart recovery from the day’s low and reclaimed the 43,300-mark on a closing basis. The rebound was led by private majors Axis Bank (+1.1%) and Kotak Mahindra Bank (+0.9%), while Punjab National Bank (-1.2%) and Bandhan Bank (-0.9%) capped the upside.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 44,000 and 45,000 call options and 43,000 and 42,000 put options.
Bank Nifty’s options contracts expiring on 22 December have sizable positions at 44,000 and 43,500 call options and 43,300 and 43,000 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,500 and 44,000 levels. On the other hand 43,200 and 43,700 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹538 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹687 crore in the cash market. In the derivatives market, FIIs bought index futures and options worth ₹1,155 crore and ₹3,583 crore. Further, they bought stock futures worth ₹1,766 crore and bought stock options worth ₹236 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 3.7% to 13.55.
Stock Action📊
Long build-up was seen in Britannia, Escorts Kubota, Mahanagar Gas, Hindustan Unilever and Adani Enterprises.
Short build-up was seen in Chambal Fertilisers, TCS, Firstsource Solutions, Alkem Labs and Aurobindo Pharma.
Under F&O Ban: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC 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.
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