Asian Markets Update @ 7:30 am
The SGX Nifty is trading higher by 21 points at 7:30 am, suggesting a flat to a positive start for the NIFTY 50 today. Among Asian markets, Nikkei 225 in Japan rose 0.4%, while the Hong Kong market is shut on account of the Christmas holiday.
Global Markets Update
U.S. stocks ended Friday's session higher and logged gains across the board. On a weekly basis, the S&P 500 and Nasdaq Composite logged losses, while Dow Jones registered minor gains. U.S. markets will be closed today on account of the Christmas holiday.
When the closing bell rang, the Dow Jones and S&P 500 both rose 0.5%, while the technology-heavy Nasdaq Composite gained 0.2%.
Index Action
NIFTY 5O
December Futures: 17,880 📉▼ 290 (-1.6%)
OI contracts: 1,96,993 (-1.3%)
The NIFTY 50 index slipped below its 50-day moving average and gave up the psychologically crucial 18,000-mark. Despite closing below the 18,000-mark, there was no unwinding in the 18,000 put option strike of January monthly expiry- suggesting some hope for bulls of a bounce.
NIFTY 50’s options contracts expiring on 29 December have sizable positions at 18,000 and 18,200 call options and 18,000 and 17,500 put options.
As per options data and OI analysis, the broad range for the NIFTY 50 is between 17,000 and 18,500 levels. On the other hand, 17,400 and 18,200 are the critical levels to watch for the current week.
BANK NIFTY
December Futures: 41,746 📉▼ 724 (-1.7%)
OI contracts: 82,176 (-9.4%)
The BANK NIFTY index extended its losing streak to the fourth day in a row and dropped 740 points, the biggest single-day drop since September. The index gave a decisive close below the 43,000 mark and witnessed a huge build-up of call options on the same strike.
BANK NIFTY’s options contracts expiring on 29 December have sizable positions at 42,000 and 43,000 call options and 41,500 and 41,000 put options.
As per options data and OI analysis, the broad range for the BANK NIFTY is between 40,800 and 42,600 levels. On the other hand, 41,300 and 42,200 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹706 crore, while Domestic Institutional Investors (DIIs) purchased shares worth ₹3,398 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹550 crore and bought index options worth ₹5,649 crore. Further, they bought stock futures worth ₹825 crore and sold stock options worth ₹51 crore.
India VIX
The India VIX, which measures the implied volatility of NIFTY 50 options, climbed 6.3% to 16.16.
Stock Action📊
Long build-up was seen in Granules and Divi’s Labs.
Short build-up was seen in IDFC First Bank, Indraprastha Gas, Ramco Cements, Lupin and Firstsource Solutions.
Under F&O Ban: Indiabulls Housing Finance.
*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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