Asian Markets Update @7 am
The SGX Nifty is trading lower by 35 points, signalling a negative start for the Nifty50 today. Major Asian markets are trading mixed. In Japan, the Nikkei declined 0.2%, while Hong Kong’s Hang Seng index climbed 0.9%.
Global Markets Update
The US markets witnessed a choppy session ahead of the US Fed meeting later this week and closed on a mixed note on Monday. The Dow Jones rose 0.2%, while the Nasdaq slipped 0.4%. The European markets also had a mixed closing in the range of -0.3% to +0.4%.
Stock Action
Long build-up was seen in Navin Fluorine, NTPC, Indian Hotels, Coal India and Tata Steel.
Short build-up was seen in Mahanagar Gas, United Breweries, Reliance Industries, IDFC and ABFRL.
Major results today: Asian Paints, Larsen & Toubro, Tata Power, Union Bank and Bajaj Auto.
Stock under F&O Ban: Indiabulls Housing Finance
FII/DII Activity**
In the cash market, FIIs sold shares worth ₹844 crore, while DIIs were net sellers of ₹72 crore. In the derivatives market, FIIs sold index futures worth ₹986 crore and bought index options worth ₹1,107 crore. Further, they sold stock futures worth ₹628 crore and bought stock options worth ₹203 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 6.1% to 17.68.
Index Action
Nifty50
The Nifty50 snapped its six-day winning streak on Monday and closed 0.5% lower. Loses in auto and oil & gas stocks dragged the index lower, while metal stocks provided some support. The Nifty50 slipped 88 points and closed yesterday's session at 16,631.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 16,700 and 17,000 call options and 16,500 and 16,600 put options.
As per options data, the broad range for the Nifty50 is between 16,000 and 17,200 levels. Its immediate support is at 16,400 and resistance is at 16,800 levels.
Bank Nifty
After an initial slip, the Bank Nifty recovered more than 400 points from its intraday low and closed Monday's session flat. Among stocks, IndusInd Bank(+2.0%) and SBI (+0.8%) were the top gainers, while Bandhan Bank(-4.2%) and Kotak Mahindra Bank(-1.7%) were the top losers. The Bank Nifty slipped 12 points and closed yesterday's session at 36,726.
The Bank Nifty’s options contracts expiring on 28 July have sizable positions at 37,000 and 37,500 call options and 36,000 and 36,500 put options.
As per the options data, the broad range for the Bank Nifty is between 35,500 and 37,500 levels. Its immediate support is at 36,200 and resistance is at 37,000 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.