Asian Markets Update @7 am
The SGX Nifty is trading higher by 33 points, signalling a positive start for the Nifty50 today. Major Asian markets are also trading in the green. In Japan, the Nikkei climbed 0.2%, while Hong Kong’s Hang Seng index advanced 0.7%.
Global Markets Update
The US markets closed near the day's high on Thursday, led by gains in heavyweight growth stocks, including Tesla. The Dow Jones rose 0.5%, while the Nasdaq added 1.3%. The European markets had a mixed closing in the range of -0.2% to +0.2%.
Stock Action
Long build-up was seen in ABB, PVR, Indiamart, Cummins India and Coromandel International.
Short build-up was seen in Atul Ltd, Astral, Firstsource Solutions, Voltas and Oracle Financial Services Software.
Stocks in F&O Ban: Delta Corp and RBL Bank
Results today: Atul Ltd, Bandhan Bank, Coforge, HDFC AMC, JSW Steel and Reliance Industries.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹1,799 crore, while DIIs were net sellers of ₹312 crore. In the derivatives market, FIIs bought index futures worth ₹2,449 crore and bought index options worth ₹7,415 crore. Further, they bought stock futures worth ₹509 crore and sold stock options worth ₹66 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, advanced 0.2% to 16.86.
Index Action
Nifty50
Nifty50 ended the volatile session of F&O weekly expiry on a positive note. The headline index traded sideways for most of the day and surged more than 90 points in the last hour to climb the 16,600-mark. Barring Pharma, all the major sectoral indices closed in the green, with Banking, Oil & gas, and Metal being the top gainers. The Nifty50 rose 84 points and closed the day at 16,605.
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.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,200 levels. Its immediate support is at 16,300 and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty surged 0.6% and closed the session just above the 36,200 mark, led by strong gains in IndusInd Bank (+7.8%) and IDFC First Bank (+2.4%). On the other hand, Kotak Mahindra Bank (-1.4%) and HDFC Bank (-0.3%) were the top losers of the day. The Bank Nifty rose 228 points and ended the volatile session at 36,201.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 37,000 and 36,500 call options and 36,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 35,000 and 37,200 levels. Its immediate support is at 35,700 and resistance is at 36,600 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.