Asian Markets Update @7 am
The SGX Nifty is trading higher by 18 points, signalling a flat start for the Nifty50 today. Major Asian markets are trading in the red. In Japan, the Nikkei declined 0.3%, while Hong Kong’s Hang Seng index slipped 0.4%.
Global Markets Update
The US markets closed higher on Wednesday, led by gains in technology and growth stocks. The Dow Jones rose 0.1%, while the Nasdaq climbed 1.5%. The European markets closed lower in the range of -0.2% to -0.4%.
Stock Action
Long build-up was seen in FSL, Persistent Systems, Gujarat Gas, MCX and Indian Hotels.
Short build-up was seen in Navin Fluorine, Astral, ICICI Lombard, HDFC Life and Bata India.
Results today: Can Fin Homes, CRISIL, Mphasis, Persistent Systems, PVR, RBL Bank and SRF.
Stocks in F&O Ban: Delta Corp
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹1,780 crore, while DIIs were net sellers of ₹230 crore. In the derivatives market, FIIs bought index futures worth ₹2,823 crore and sold index options worth ₹4,616 crore. Further, they bought stock futures worth ₹162 crore and sold stock options worth ₹119 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 2.2% to 16.82.
Index Action
Nifty50
Amid positive global cues and a reduction in windfall tax on fuel prices, the Nifty50 index reclaimed 16,500 mark and closed higher for the fourth consecutive day. IT, FMCG, and oil & gas sectors registered gains, while auto and realty remained under pressure. The Nifty50 surged 180 points and closed the day at 16,520.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 21 July have sizable positions at 16,600 and 16,500 call options and 16,200 and 16,500 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,000 levels. Its immediate support is at 16,200 and resistance is at 16,700 levels.
Bank Nifty
After a gap-up start, the Bank Nifty crossed the 36,000 mark and closed in positive territory for the fourth straight session. It gained 251 points and closed the day at 35,972. Among stocks, SBI and AU Small Finance Bank were the top gainers, while Federal Bank and IDFC First Bank were the top losers.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 36,000 and 36,500 call options and 35,000 and 35,500 put options.
The Bank Nifty’s options contracts expiring on 21 July have sizable positions at 36,000 and 37,000 call options and 35,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,700 and 36,800 levels. Its immediate support is at 35,500 and resistance is at 36,300 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.