Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading down by 75 points at 8 am, signalling a negative start for the NIFTY 50 today. Major Asian markets are trading lower. In Japan, the Nikkei 225 fell 1.2%, while Hong Kong's Hang Seng slipped 1.2%.
Global Markets Update
U.S markets slipped lower as investors fear aggressive rate hikes by the Fed.
The Dow Jones fell 1.0%, while the tech-focused Nasdaq slipped 0.9%. European markets closed lower in the range of 0.6% to 1.3%.
Index Action
NIFTY 50 @ 17,816 📈 ▲194 (+1.1%)
Nifty 50 crossed 17,900 but faced profit-booking at higher levels. It ended the day 194 points up at 17,816.
All major sectoral indices ended higher with Pharma (3.0%), Private Bank (1.6%) and Auto (1.6%) being the top gainers.
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 18,200 call options and 17,600 and 17,500 put options.
As per options data, the broad range for the NIFTY 50 is between 17,000 and 18,600 levels. Its immediate support is at 17,500 and resistance is at 18,000 levels.
BANK NIFTY @ 41,468 📈▲563 (+1.3%)
BANK NIFTY rallied higher and settled just below 41,500 levels. It ended the day 563 points up at 41,468. All 12 stocks of the index ended in the green with IndusInd Bank (3.1%) and AU Small Finance Bank (1.9%) being the top gainers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 42,000 and 41,000 call options and 40,000 and 39,000 put options.
BANK NIFTY’s options contracts expiring on 22 September have sizable positions at 41,500 and 42,000 call options and 40,000 and 39,500 put options.
As per the options data, the broad range for the BANK NIFTY is between 39,900 and 42,200 levels. Its immediate support is at 41,000 and resistance is at 41,800 levels.
FII and DII Data**
In the cash market, FIIs bought shares worth ₹1,196 crore, while DIIs bought shares worth ₹131 crore. In the derivatives market, FIIs bought index futures worth ₹1,844 crore and bought index options worth ₹1,510 crore. Further, they bought stock futures worth ₹1,187 crore and bought stock options worth ₹58 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 5.7% to 18.80.
Stock Action📊
Long build-up was seen in Cipla, Rain Industries, JK Cement, Laurus Labs and GNFC.
Short build-up was seen in Can Fin Homes, IOC, ABB, Vedanta and MRF.
Under F&O Ban: Delta Corp, Escorts, 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.