Asian Markets Update @ 7:30 am
The SGX Nifty was trading below its previous close (-0.4%) at 7:30 am, suggesting a negative start for the Nifty50 today. Major Asian markets were also trading in the red, amid unrest in China over its zero-COVID policy. Nikkei 225 in Japan declined 0.7%, while Hong Kong’s Hang Seng index slumped 3.4%.
Global Markets Update
U.S. stocks finished the holiday-shortened Friday's session mixed. The Dow Jones rose 0.4% to 34,347, while the S&P 500 closed flat with a negative bias. The tech-heavy Nasdaq Composite slipped 0.5% to 11,226. The European markets largely remained unchanged and closed Friday's session flat.
Index Action
Nifty50 @ 18,512 📈▲ 28 (+0.1%)
The Nifty50 index moved higher on Friday and ended the first session of the December F&O series on a positive note. Sectorally, Media (+2.5%), Realty (+1.1%) and Auto (+0.8%) advanced the most. FMCG (-0.3%) and Banks (-0.2%) were the laggards.
Nifty50’s options contracts expiring on 29 December have sizable positions at 18,500 and 19,000 call options and 18,000 and 17,500 put options.
Nifty50’s options contracts expiring on 1 December have sizable positions at 18,600 and 18,500 call options and 18,500 and 18,300 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 18,000 and 19,000 levels. On the other hand, 18,200 and 18,800 are the critical levels to watch for the current week.
Bank Nifty @ 42,983📉 ▼ 91 (-0.2%)
After a positive start, the Bank Nifty witnessed profit booking at higher levels and closed Friday's session lower. Among banking stocks, Punjab National Bank (+5.4%) and Bandhan Bank (+3.1%) topped the charts, while Bank of Baroda (-1.5%) and ICICI Bank (-0.9%) were the top laggards.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 44,000 call options and 42,000 and 42,500 put options.
Bank Nifty’s options contracts expiring on 1 December have sizable positions at 43,000 and 43,500 call options and 43,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,800 and 44,400 levels. On the other hand 42,400 and 43,900 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹369 crore, while DIIs sold shares worth ₹295 crore. In the derivatives market, FIIs sold index futures worth ₹1,657 crore and bought index options worth ₹6,625 crore. Further, they sold stock futures worth ₹284 crore and bought options worth ₹142 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, continued its downtrend and fell 1.0% to 13.33. The volatility index on Friday slipped to its lowest level this year and corrected 10% this week.
Stock Action📊
Long build-up was seen in BHEL, Whirlpool, RBL Bank, L&T Finance and Indiabulls Housing Finance.
Short build-up was seen in ICICI Prudential, Nestle, Siemens, Shriram Transport Finance and Gujarat Gas.
*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.