Global Markets Update
SGX Nifty is trading lower, down by 232 points. Major Asian markets are trading in the red. Japan’s Nikkei declined 1.7% (7 am) and Hong Kong’s Hang Seng index slipped 0.7% (7 am).
The US markets fell sharply as earnings disappointment stoked global slowdown fears. The Dow Jones fell 2.3%, and the Nasdaq dropped 3.9%. The European markets ended flat to negative in the range of -1.2% to +0.08%.
Stock Action
Long build-up was seen in Navin Fluorine, Chola Investment, Nippon Life, TVS Motor and Bajaj Auto.
Short build-up was seen in Atul Ltd, Tata Communications, Ramco Cements, Metropolis and Hindalco.
Major companies announcing results today are HDFC AMC, HUL, IEX, Indian Hotels, Persistent and Syngene International.
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 ₹1,174 crore, while DIIs were net buyers of ₹1,643 crore. In the derivatives market, FIIs bought index futures worth ₹231 crore and bought index options worth ₹9,957 crore. Further, they bought stock futures worth ₹1,399 crore and bought stock options worth ₹291 crore.
Index Action
Nifty50
Amid positive global cues and a sharp rebound in Reliance Industries, the Nifty50 snapped its two days of losses and closed Tuesday's session higher. Among the Nifty50 stocks, Adani Ports, Bajaj Auto and Hero MotoCorp were the top gainers, while ONGC and Apollo Hospitals were the top losers. With all major sectors closing in the green, the Nifty50 jumped 246 points to 17,200.
The India VIX dropped 9.7% to 19.18.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 17,200 and 17,500 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 16,800 and resistance is at 17,400 levels.
Bank Nifty
The Bank Nifty started the session on a positive note and crossed the 36,600 mark during the day. However, profit-booking at higher levels dragged the index lower, but it managed to close the day 0.9% higher. With 11 out of 12 bank stocks closing in green, the Bank Nifty rose 322 points to 36,404.
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 35,500 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 35,900 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.