Asian Markets Update @7 am
The SGX Nifty is trading higher by 180 points, signalling a positive start for the NIFTY50 today. Major Asian markets are trading mixed. In Japan, the Nikkei gained 0.2%, while Hong Kong’s Hang Seng index slipped 0.1%.
Global Markets Update
The US markets extended gains for the second consecutive day, despite US GDP contracting for the second quarter in a row. The Dow Jones rose 1.0%, while the Nasdaq climbed 1.0%. The European markets ended flat to positive in the range of -0.04% to +1.3%.
Stock Action
Long build-up was seen in SBI Cards, Shriram Transport Finance, Balrampur Chini, Laurus Labs and Cummins India.
Short build-up was seen in Biocon, Dixon Technologies, M&M Financial, Indraprastha Gas and MCX.
Major results today: Ashok Leyland, Cholamandalam Investment, Cipla, DLF, GMR Infra, HDFC, Indian Oil Corporation, NTPC and Sun Pharma.
FII/DII Activity**
In the cash market, both FIIs and DIIs bought shares worth ₹1,637 crore and ₹600 crore. In the derivatives market, FIIs bought index futures worth ₹1,797 crore and bought index options worth ₹3,234 crore. Further, they bought stock futures worth ₹1,013 crore and sold stock options worth ₹68 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 6.1% to 17.01.
Index Action
NIFTY50
On the back of positive global cues and a strengthening rupee, the NIFTY50 rose 287 points and closed the session at 16,929. All the major sectoral indices closed in the green, with IT (+2.8%) and Financial services (+2.3%) being the top gainers.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 17,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on 4 August have sizable positions at 17,000 and 17,500 call options and 16,600 and 16,800 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,700 levels. Its immediate support is at 16,600 and resistance is at 17,200 levels.
Bank Nifty
The Bank Nifty rose 1.6% and ended above the 37,300 mark. Except Bank of Baroda(-0.9%) and Federal Bank (-0.1%), all the other ten stocks of the index closed higher. The Bank Nifty climbed 594 points and ended yesterday's session at 37,378.
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 38,000 and 37,500 call options and 36,000 and 37,000 put options.
The Bank Nifty’s options contracts expiring on 4 August have sizable positions at 38,000 and 37,500 call options and 36,500 and 37,000 put options.
As per the options data, the broad range for the Bank Nifty is between 36,000 and 38,400 levels. Its immediate support is at 36,900 and resistance is at 37,800 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.