Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 80 points at 7:30 am, indicating a positive start for the Nifty50 today. Major Asian markets were also trading in the green. Nikkei 225 in Japan traded flat with a positive bias, while Hong Kong’s Hang Seng index gained 0.6%.
Global Markets Update
U.S. stocks snapped their four-day losing streak despite ripple effects of the Bank of Japan's surprise announcement to put a higher ceiling on government bond yields.
The Dow Jones finished Tuesday's session 0.2% higher at 32,849, while S&P 500 rose 0.1% and finished at 3,821. The tech-focused Nasdaq Composite closed flat with a positive bias.
Index Action
Nifty50 @18,385 📉▼ 35 (-0.1%)
The Nifty50 index pared most of the losses in the final hour of a volatile session and bounced from 18,200 levels for the second day in a row. All the major sectoral indices remained in the red for most of the day, but Oil & Gas (+0.2%), IT (+0.2%) and Metal (+0.1%) closed with minor gains. Realty (-1.2%) and Media (-0.8%) sectors witnessed selling pressure.
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 18,500 call options and 18,200 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 @ 43,359 📉▼ 54 (-0.1%)
After a gap-down start, the Bank Nifty index fell further and dropped to 42,900 levels in the first half of the trading session. However, in the afternoon session the banking index recouped its losses and climbed the 43,300 mark on a closing basis.
Among banking stocks, AU Small Finance Bank(+0.8%) and Bank of Baroda (+0.6%) were the top gainers, while IDFC First Bank (-1.6%) and Federal Bank (-1.3%) were the top losers.
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 43,200 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, 43,000 and 43,700 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹455 crore, while Domestic Institutional Investors (DIIs) also bought shares worth ₹494 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹2,986 crore and bought index options worth ₹2,333 crore. Further, they sold stock futures worth ₹1,129 crore and bought stock options worth ₹52 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 1.7% to 13.78.
Stock Action📊
Long build-up was seen in Adani Enterprises, Axis Bank, Sun TV, Indigo and AU Small Finance Bank.
Short build-up was seen in Voltas, SBI Life, Dabur, Torrent Pharma and Indus Towers.
Under F&O Ban: 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.