Global Markets Update
SGX Nifty is trading higher, up by 101 points. Major Asian markets are trading in the green. Japan’s Nikkei rose 0.6% (7 am), and Hong Kong’s Hang Seng index jumped 0.5% (7 am).
The US markets rebounded as buying emerged in big tech stocks ahead of quarterly results. The Dow Jones jumped 0.7%, and the Nasdaq gained 1.2%. European markets ended lower in the range of -2.8% to -1.5%.
Stock Action
Long build-up: Escorts, Intellect Design, Syngene International, AB Capital and Ambuja Cements.
Short build-up: JK Cement, Nippon Life, Cummins India, ABB and Punjab National Bank.
Major results today: AU Small Finance Bank, Bajaj Finance and HDFC Life.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,302 crore, while DIIs were net buyers of ₹1,870 crore. In the derivatives market, FIIs sold index futures worth ₹1,257 crore and sold index options worth ₹5,074 crore. Further, they bought stock futures worth ₹680 crore and bought stock options worth ₹20 crore.
Index Action
Nifty50
The Nifty50 ended the day with sharp losses and dropped more than 1% for the second straight session. Continuous FII selling, fresh lockdowns in China and profit booking in Reliance Industries pushed the index lower. Among sectors, only Bank edged higher, while Realty and Metal were the top losers. With 42 out of the 50 stocks ending lower, the Nifty50 dropped 218 points to 16,953.
The India VIX climbed 15.9% to 21.26.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 17,000 and 17,200 call options and 17,000 and 16,900 put options.
As per options data, the broad range for the Nifty50 is between 16,000 and 17,900 levels. Its immediate support is at 16,700 and resistance is at 17,300 levels.
Bank Nifty
The Bank Nifty staged a smart recovery and regained the 36,000 mark, led by strong gains in ICICI Bank and HDFC Bank. With private banks outperforming their PSU peers, the Bank Nifty jumped 37 points to 36,082.
The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 36,500 and 37,000 call options and 36,000 and 35,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,900 and 37,500 levels. Its immediate support is at 35,500 and resistance is at 36,700 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.