Asian Markets Update @ 7:30 am
The SGX Nifty was trading below its previous close (-0.3%) at 7:30 am, suggesting a negative start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan declined 0.4%, while Hong Kong’s Hang Seng index climbed 2.2%.
Global Markets Update
U.S. stocks tumbled on Monday as unrest in China over restrictive COVID controls weighed on global sentiment. The Dow Jones dropped 1.4% to 33,849, while the S&P 500 sank 1.5% to 3,963. The tech-focused Nasdaq Composite declined 1.5% to 11,049. The European markets also closed lower in the range of 0.6% to 1%.
Index Action
Nifty50 @ 18,562 📈▲ 50 (+0.27%)
Led by gains in Reliance Industries, the Nifty50 index reversed its early losses and scaled a new all-time high. Among sectors, Oil & Gas (+1.6%) and Auto (+0.6%) rallied the most, whereas Metals (-1.1%) came under selling pressure.
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 18,800 call options and 18,500 and 18,400 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, 18,300 and 18,800 are the critical levels to watch for the current week.
Bank Nifty @ 43,020 📈▲ 36 (+0.08%)
The Bank Nifty index traded in a range of 400 points and closed yesterday’s choppy session flat. Among banking stocks, Bandhan Bank (+2.3%) and IDFC First Bank (+1.2%) advanced the most, while index heavyweight HDFC Bank (-1.0%) and Punjab National Bank (-0.3%) were the 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 42,000 and 44,400 levels. On the other hand 42,600 and 43,700 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, both FIIs and DIIs turned net buyers. The FIIs bought shares worth ₹935 crore, while DIIs purchased shares worth ₹87 crore. In the derivatives market, FIIs bought index futures worth ₹1,414 crore and bought index options worth ₹2,537 crore. Further, they sold stock futures worth ₹1,464 crore and sold stock options worth ₹155 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options rose 1.8% to 13.57.
Stock Action📊
Long build-up was seen in Apollo Tyres, Delta Corp, Indiabulls Housing Finance, Bajaj Finserv and Hindustan Petroleum.
Short build-up was seen in Shriram Transport Finance, Vedanta, Laurus Labs, Indian Energy Exchange and Coal India.
Under F&O Ban: BHEL, Delta Corp and Indiabulls Housing Finance.
*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.