Global Markets Update
The SGX Nifty is trading in the red, down by 161 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.8% and Hong Kong’s Hang Seng declined 1.1% at 7 am India time.
The US markets fell for the second consecutive day and gave up early gains. The Dow Jones fell 1.5%, while the Nasdaq slipped 2.9%. European markets ended higher in the range of 0.3% to 0.9%.
Stock Action
Long build-up was seen in Ashok Leyland, TVS Motor, Mahindra & Mahindra, ONGC and Coal India.
Short build-up was seen in Chambal Fertilisers, Astral, ICICI Prudential, IEX and Kotak Mahindra Bank.
F&O stocks in ban
Stocks in ban: Delta Corp and Sun TV
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,244 crore, while DIIs were net buyers of ₹1,205 crore. In the derivatives market, FIIs bought index futures worth ₹83 crore and bought index options worth ₹2,261 crore. Further, they bought stock futures worth ₹326 crore and sold stock options worth ₹46 crore.
Index Action
Nifty50
The Nifty50 rebounded from the day's low and closed the session in green for the fourth consecutive day, led by gains in oil & gas, metals and auto stocks. The Nifty50 ended the volatile session at 15,850, up by 18 points.
The India VIX climbed 2.1% to 21.45.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 16,000 and 15,800 call options and 15,700 and 15,800 put options.
As per options data, the broad range for the Nifty50 is between 14,900 and 16,600 levels. Its immediate support is at 15,600 and resistance is at 16,000 levels.
Bank Nifty
The Bank Nifty underperformed versus the Nifty50 and slipped 168 points to 33,642. However, with a fag-end recovery of more than 180 points, the index managed to shield the 33,500-mark. Among stocks, Bandhan Bank and Kotak Mahindra Bank were the top losers, while Bank of Baroda and Axis Bank were the top gainers.
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 34,000 and 35,000 call options and 33,500 and 33,000 put options.
As per the options data, the broad range for the Bank Nifty is between 32,600 and 34,800 levels. Its immediate support is at 33,300 and resistance is at 34,200 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.