Asian Markets Update @7 am
The SGX Nifty is trading lower by 10 points, signalling a flat start for the Nifty50 today. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.1%, while Hong Kong’s Hang Seng index slipped 0.7%.
Global Markets Update
Ahead of the US Fed's interest rate decision, the US markets fell and ended the volatile session lower on Tuesday. The Dow Jones declined 0.7%, while the Nasdaq slipped 1.8%. The European markets ended flat to negative in the range of -0.0% to -0.8%.
Stock Action
Long build-up was seen in Delta Corp, SBI Cards, Sun TV, PVR and Coal India.
Short build-up was seen in Infosys, Intellect Design, Berger Paints, Laurus Labs and Aurobindo Pharma.
Major results today: Bajaj Finance, Biocon, Colgate-Palmolive, Dixon Technologies, Laurus Labs, Maruti Suzuki, SKF India, Tata Motors and UBL.
Stocks under F&O Ban: Delta Corp and Indiabulls Housing Finance.
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,548 crore, while DIIs were net buyers of ₹999 crore. In the derivatives market, FIIs sold index futures worth ₹923 crore and bought index options worth ₹946 crore. Further, they sold stock futures worth ₹631 crore and bought stock options worth ₹172 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 2.7% to 18.17.
Index Action
Nifty50
The Nifty50 shed nearly 1% and ended lower for the second straight day. Barring Media, all the major sectoral indices ended in the red, with IT and FMCG taking the biggest hit. The Nifty50 slumped 147 points and closed Tuesday's session at 16,483.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 16,700 and 16,600 call options and 16,500 and 16,400 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,100 levels. Its immediate support is at 16,300 and resistance is at 16,700 levels.
Bank Nifty
The Bank Nifty opened lower and slipped further during the day, dragged by losses in Axis Bank (-2.8%) and Kotak Mahindra Bank (-1.8%). With nine out of 12 bank stocks closing in red, the breadth of the index was in favour of bears. The Bank Nifty plummeted 317 points and closed Tuesday's session at 36,408.
The Bank Nifty’s options contracts expiring on 28 July have sizable positions at 36,500 and 37,000 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 37,400 levels. Its immediate support is at 36,100 and resistance is at 36,800 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.
Download the Upstox App Today