Asian Markets Update @ 8:00 am
The SGX Nifty was trading lower by 94 points at 8 am, indicating a negative start for the Nifty50 today. Major Asian markets were also trading in the red. The Nikkei 225 in Japan was down 0.1%, while Hong Kong’s Hang Seng index slipped 2.3%.
Global Markets Update
US markets ended higher on Friday as investors shrugged off further rate hike concerns. The Dow Jones rose 0.5% to 33,745, while the S&P 500 climbed 0.4% to close at 3,965. The tech-focused Nasdaq Composite ended flat with a positive bias, up 0.01% and closed at 11,146. The European markets closed Friday’s session on a positive note, in the range of 0.5% to 1.1%.
Index Action
Nifty50 @ 18,307 📉▼ 36 (-0.20%)
The Nifty50 rebounded sharply from 18,200 levels but ended in the red. Among major sectoral indices, PSU Bank (+1.5%) and Realty (+0.1%) were the only gainers, while Auto (-1.1%) and Oil & Gas (-0.7%) were the top losers.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,400 and 18,500 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 17,800 and 18,800 levels. On the other hand, 18,000 and 18,600 are the critical levels to watch for the current week.
Bank Nifty @ 42,437 📉▼ 20 (-0.05%)
The Bank Nifty recovered most of its losses and settled above 42,400. Among stocks, PNB (+3.5%) and SBI (+0.6%) gained the most, while Bandhan Bank (-2.1%) and Federal Bank (-1.6%) declined the most.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,500 and 43,000 call options and 42,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,300 and 43,300 levels. On the other hand 42,000 and 42,800 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹751 crore, while DIIs also bought shares worth ₹890 crore. In the derivatives market, FIIs bought index futures worth ₹85 crore and bought index options worth ₹6,045 crore. Further, they sold stock futures worth ₹95 and bought stock options worth ₹399 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options slipped 3.2% to 14.39.
Stock Action📊
Long build-up was seen in Indraprastha Gas, GAIL, Escorts Kubota, Punjab National Bank and Vedanta.
Short build-up was seen in ONGC, Polycab, PVR, Coromandel and Mahindra & Mahindra.
Under F&O Ban: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, Punjab National Bank and Sun TV
*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.