Global Markets Update
The SGX Nifty is trading in the green, up by 92 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 0.8% and Hong Kong’s Hang Seng index climbed 2.9% at 7 am India time.
The US markets ended higher and Dow Jones closed higher for the fifth straight session and climbed 1.6%, while the Nasdaq advanced 2.6%. European markets closed higher in the range of 0.5% to 1.7%.
Stock Action
Long build-up was seen in Indiabulls Housing Finance, Torrent Pharma, Britannia, REC and Tata Steel.
Short build-up was seen in Divi's Lab, Havells, Reliance Industries, Adani Enterprises and Sun Pharma.
Major companies announcing results today are Astral, City Union Bank, Glenmark Pharma, and JSW Steel.
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 ₹1,597 crore, while DIIs were net buyers of ₹2,906 crore. In the derivatives market, FIIs sold index futures worth ₹626 crore and bought index options worth ₹5,002 crore. Further, they bought stock futures worth ₹2,019 crore and bought stock options worth ₹241 crore.
Index Action
Nifty50
The Nifty50 broke its three-day losing streak and moved higher to 16,200-mark on the monthly F&O expiry day. Metals, banks and financial services stocks led the rise, while FMCG stocks remained under pressure. The Nifty50 closed at 16,170, up 0.9%.
The India VIX slipped 10.1% to 22.72.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 2 June have sizable positions at 16,500 and 16,200 call options and 16,000 and 15,800 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 16,900 levels. Its immediate support is at 15,900 and resistance is at 16,500 levels.
Bank Nifty
The Bank Nifty rose more than 2% and reclaimed the 35,000-mark, led by strong gains in PSU banks. The Bank Nifty jumped 755 points and closed the day at 35,094. All the 12 stocks of the banking index closed in the green, with Bank of Baroda and SBI being the top gainers.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 35,000 and 36,000 call options and 33,000 and 34,500 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 35,000 and 36,000 call options and 34,000 and 33,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,000 and 36,200 levels. Its immediate support is at 34,600 and resistance is at 35,700 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.