Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 53 points at 7:30 am, indicating a flat to positive start for the Nifty50 today. Major Asian markets were trading lower. The Nikkei 225 in Japan fell 0.3%, while Hong Kong’s Hang Seng index lost 0.2%.
Global Markets Update
U.S stocks closed mixed on Thursday after the new data released showed that third-quarter U.S GDP rose more than expected. However, the tech stocks remained under pressure. Shares of Facebook parent Meta Platforms plunged 24% after the company posted the second quarterly revenue decline.
The Dow Jones and the Nasdaq Composite diverged, with Dow climbing 0.6% to 32,033 and Nasdaq declining 1.6% to 10,792. The S&P 500 lost 0.6% and closed at 3,807. The European markets closed higher in the range of 0.1% to 0.2% after the European Central Bank (ECB) raised the interest rates by 0.75% to 1.5%.
Index Action
Nifty50 @ 17,736 📈▲ 80 (+0.4%)
The Nifty50 index continued its upward march after a day’s halt and ended the October F&O series on a higher note. Except for IT (-0.5%), all the major sectoral indices closed in red. Realty (+2.9%), Metal (+2.7%) and Oil & Gas(+1.7%) advanced the most.
Nifty50’s options contracts expiring on 3 November have sizable positions at 18,000 and 17,800 call options and 17,700 and 17,600 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 16,800 and 18,400 levels. On the other hand, 17,300 and 18,000 are the critical levels to watch for next week.
Bank Nifty @ 41,299 📈▲ 176 (+0.4%)
The Bank Nifty opened higher and ended the choppy session with modest gains. The index oscillated broadly in a 300-point range and remained flat for most part of the day. However, the banking index jumped more than 150 points from the day’s low towards the fag-end and closed higher.
Among stocks, Axis Bank (+1.3%) and Bandhan Bank (+1.1) were the top gainers, while Punjab National Bank (-0.6%) and ICICI bank (-0.07%) witnessed profit booking.
Bank Nifty’s options contracts expiring on 3 November have sizable positions at 42,000 and 41,500 call options and 40,000 and 40,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 40,400 and 42,000 levels. On the other hand 40,800 and 41,600 are the critical levels to watch for the next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹2,818 crore, while DIIs sold shares worth ₹1,580 crore. In the derivatives market, FIIs bought index futures and options worth ₹4,104 crore and ₹17,261 crore. Further, they bought stock futures and options worth ₹2,556 crore and ₹160 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options declined 1.6% to 16.59.
Stock Action📊
Long build-up was seen in Hindalco, Cummins India, Sun Pharma, India Cements and Bharti Airtel.
Short build-up was seen in Mphasis, Page Industries, Astral, Bajaj Finserv and Bajaj Finance.
Key results today: Bandhan Bank, Dr. Reddy’s, Intellect Design, Maruti Suzuki, Tata Power and Vedanta.
*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.
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