Asian Markets Update @ 8:00 am
The SGX Nifty was trading higher by 43 points at 8 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading in the green. The Nikkei 225 in Japan was up 0.8%, while Hong Kong’s Hang Seng index climbed 0.3%.
Global Markets Update
The U.S. markets closed Monday’s volatile session in red, starting the Thanksgiving week on a downbeat note. The Dow Jones slipped 0.1% to 33,700, while the S&P 500 fell 0.3% to 3,949. The tech-focused Nasdaq Composite declined 1.0% to end the day at 11,024. The European markets closed yesterday’s session on a negative note and dropped in the range of 0.1% to 0.3%.
Index Action
Nifty50 @ 18,159 📉▼ 147 (-0.80%)
Amid weak Asian cues, the Nifty50 index closed in the red for the third day in a row and declined 0.8%. Among major sectoral indices, the PSU Bank (+1.4%) remained upbeat for the fifth consecutive day, while IT (-1.5%) and Realty (-1.2%) were the biggest laggards.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,400 and 18,300 call options and 18,000 and 17,900 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,700 and 18,800 levels. On the other hand, 18,000 and 18,400 are the critical levels to watch for the current week.
Bank Nifty @ 42,346 📉▼ 90 (-0.20%)
The Bank Nifty rebounded yet again from 42,200 levels led by strong gains in PSU banks, especially the mid and small-tier banks. Among stocks, Punjab National Bank (+3.8%) and Axis Bank (+1.2%) were the top gainers, while Bandhan Bank (-2.4%) and HDFC Bank (-1.0%) were the top losers.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,500 and 43,000 call options and 42,000 and 42,300 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,300 and 43,000 levels. On the other hand 42,000 and 42,600 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹1,593 crore, while DIIs also bought shares worth ₹1,262 crore. In the derivatives market, FIIs sold index futures worth ₹761 crore and bought index options worth ₹1,068 crore. Further, they bought stock futures worth ₹193 and bought stock options worth ₹404 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options rose 2.8% to 14.79.
Stock Action📊
Long build-up was seen in Escorts Kubota, Torrent Pharma, SAIL, Chambal Fertilisers and Canara Bank.
Short build-up was seen in Siemens, Bajaj Finserv, Jubilant FoodWorks, NTPC and Persistent Systems.
Under F&O Ban: Escorts Kubota, 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.
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