Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading higher by 147 points at 8 am, signalling a positive start for the NIFTY 50 today. In Japan, the Nikkei 225 rose 0.3%, while Hong Kong's Hang Seng gained 0.8%.
Global Markets Update
U.S. markets closed Monday's volatile trading session higher. This comes ahead of the U.S. Federal Reserve's two-day policy meeting that will begin today.
The Dow Jones rose 0.6%, while the tech-focused Nasdaq climbed 0.7%. European markets closed mixed in the range of +0.4% and -0.6%.
Index Action
NIFTY 50 @ 17,622 📈 ▲ 91 (+0.5%)
NIFTY 50 snapped its three-day losing streak and ended Monday's session higher. The headline index made a sharp recovery of more than 230 points from its intraday low and closed above the 17,600 mark.
Among major sectoral indices, the PSU Bank (+2.0%), FMCG (+1.2%) and Auto (0.9%) rose the most. On the other hand, Realty (-0.9%) and Metal (-0.4%) indices were the laggards.
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 17,900 call options and 17,500 and 17,300 put options.
As per options data, the broad range for the NIFTY 50 is between 16,800 and 18,200 levels. Its immediate support is at 17,400 and resistance is at 17,800 levels.
BANK NIFTY @ 40,904 📈▲127 (+0.3%)
After a gap-down start, BANK NIFTY rebounded from its opening lows and closed Monday's choppy session higher. The recovery was led by healthy gains in Bank of Baroda (+2.7%), SBI (+1.8%) and Punjab National Bank (+1.8%). However, the losses in ICICI Bank (-1.0%) and AU Small Finance Bank (-0.8%) kept the banking index under pressure.
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 42,000 and 41,500 call options and 40,000 and 39,500 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 40,400 and resistance is at 41,200 levels.
FII and DII Data**
In the cash market, FIIs bought shares worth ₹312 crore, while DIIs sold shares worth ₹94 crore. In the derivatives market, FIIs bought index futures worth ₹1,173 crore and sold index options worth ₹4,234 crore. Further, they bought stock futures worth ₹42 crore and sold stock options worth ₹0.2 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 0.6% to 19.94.
Stock Action📊
Long build-up was seen in Escorts Kubota, TVS Motor, ACC, Bank of Baroda and Bajaj Finance.
Short build-up was seen in Can Fin Homes, Gujarat Gas, Oracle Financial Services Software, Indian Energy Exchange and Cipla.
Under F&O Ban: Escorts, Delta Corp, 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.
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