Asian Markets Update @ 8 am
The SGX Nifty sunk -0.2% lower than its previous close at 8 am, suggesting a flat to negative start for the Nifty50 today. Major Asian markets were also trading in the red. Nikkei 225 in Japan declined 0.3%, while Hong Kong's Hang Seng index fell 0.8%.
Global Markets Update
The U.S. markets were closed on Thursday on account of the Thanksgiving holiday. European markets closed yesterday’s session higher, in the range of 0.4% to 0.6%.
Index Action
Nifty50 @ 18,484 📈▲ 216 (+1.1%)
The Nifty50 index hit a fresh 52-week high and posted a record close on the last day of November F&O expiry. The 50-pack index surged over 1%, led by gains in IT (+2.6%), Oil & Gas (+1.1%) and Financial Services (+1.0%) stocks.
Nifty50’s options contracts expiring on 29 December have sizable positions at 18,500 and 19,000 call options and 18,000 and 18,500 put options.
Nifty50’s options contracts expiring on 1 December have sizable positions at 18,600 and 18,500 call options and 18,400 and 18,300 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 18,000 and 19,000 levels. On the other hand, 18,200 and 18,800 are the critical levels to watch for the next week.
Bank Nifty @ 43,075 📈▲ 346 (+0.8%)
The Bank Nifty continued its upward momentum and closed at a record closing high on Thursday. Gains in index heavyweights HDFC Bank (+1.6%) and ICICI Bank (+1.2%) pushed the banking index higher, and it surpassed the 43,000 mark for the first time.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 44,000 call options and 42,000 and 42,500 put options.
Bank Nifty’s options contracts expiring on 1 December have sizable positions at 43,000 and 43,500 call options and 43,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,800 and 44,400 levels. On the other hand 42,400 and 43,900 are the critical levels to watch for the next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹1,231 crore, while DIIs sold shares worth ₹235 crore. In the derivatives market, FIIs bought index futures and options worth ₹3,226 crore and ₹8,527 crore. Further, they bought stock futures and options worth ₹2,248 crore and ₹339 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options collapsed 4% to 13.47.
Stock Action📊
Long build-up was seen in Honeywell Automation, REC, HCL Tech, Persistent Systems and Apollo Hospitals.
Short build-up was seen in Biocon, Aurobindo Pharma, Cipla, Indiabulls Housing Finance and Bandhan 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.
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