Asian Markets Update @7 am 🕖
SGX Nifty is trading higher by 64 points, signalling a positive start for the NIFTY 50 today. Major Asian markets are also trading higher. In Japan, the Nikkei 225 rose 0.5%, while South Korea’s KOSPI climbed 0.5%. Hong Kong Exchanges suspended the morning trading session because of a tropical storm warning.
Global Markets Update
U.S markets ended Wednesday's session higher, led by gains in energy and tech stocks. Dow Jones rose 0.1%, while the tech-focused Nasdaq climbed 0.4%. European markets ended mixed in the range of -0.2% to +0.2%.
Index Action
NIFTY 50 @ 17,604 📈▲ 27 (+0.1%)
NIFTY 50 opened lower and rebounded from 17,500 levels to close in the green for the second straight day. It gained 27 points and closed just above the 17,600 mark. Among major sectoral indices, Realty (+1.8%) and Media (+1.7%) were the top gainers, while IT (-0.3%) and Pharma (-0.3%) were the top losers.
NIFTY 50’s options contracts expiring on 25 August have sizable positions at 18,000 and 17,800 call options and 17,500 and 17,600 put options.
As per options data, the broad range for NIFTY 50 is between 16,800 and 18,200 levels. Its immediate support is at 17,400 and resistance is at 17,800 levels.
BANK NIFTY @39,038 📈▲ 340 (+0.8%)
BANK NIFTY also recovered from the opening weakness and ended above the 39,000 mark. It surged 340 points and ended the day at 39,038. Except for SBI (-0.5%), all the other eleven stocks of the index ended in the green, with Bandhan Bank (+5.5%) and IDFC First Bank (+5.5%) being the top gainers.
BANK NIFTY’s options contracts expiring on 25 August have sizable positions at 40,000 and 39,500 call options and 38,500 and 38,000 put options.
As per the options data, the broad range for BANK NIFTY is between 37,200 and 39,900 levels. Its immediate support is at 38,200 and resistance is at 39,500 levels.
FII and DII Data**
In the cash market, FIIs bought shares worth ₹23 crore, while DIIs sold shares worth ₹322 crore. In the derivatives market, FIIs sold index futures worth ₹1,329 crore and bought index options worth ₹2,708 crore. Further, they sold stock futures worth ₹2,238 crore and bought options worth ₹306 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, declined 3.2% to 18.43.
Stock Action📊
Long build-up was seen in NTPC, ABB, Can Fin Homes, RBL Bank and Sun TV.
Short build-up was seen in Divi’s Lab, GMR Infra, Bharat Electronics, TCS and Indian Oil Corporation.
Stock under F&O Ban: 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.