Asian Markets Update @ 7 am
SGX Nifty was trading higher by 167 points at 7 am, signalling a positive start for the Nifty 50 today. In Japan, the Nikkei 225 advanced 0.9%, while Hong Kong’s Hang Seng index jumped 1.8%.
Global Markets Update
U.S. markets closed Wednesday's session higher, and Dow Jones and S&P 500 snapped a six-day losing streak. This comes after England's central bank said it will temporarily buy long-dated U.K government bonds, an emergency intervention to help stabilise its currency.
The Dow Jones jumped 1.8% to 29,683, and the S&P 500 rose 1.9% to 3,719. The Nasdaq rallied 2% and ended the session at 11,051. The European markets closed higher and advanced 0.3%.
Index Action
Nifty 50 @ 16,858 📉▼ 148 (-0.8%)
After a gap-down opening, Nifty 50 further lost ground and closed lower for the sixth consecutive session. However, the index made a sharp recovery of more than 200 points from its intraday low, but the last-hour selling dragged the Nifty 50 below 16,900.
Among sectors, Pharma (+0.8%) and IT (+0.2%) were the top gainers, while PSU Bank (-2.0%) and Metal (-1.9%) were the top losers.
Nifty 50’s options contracts expiring on 29 September have sizable positions at 17,000 and 17,100 call options and 16,800 and 16,500 put options.
As per options data and OI analysis, the broad range for the Nifty 50 is between 16,200 and 17,500 levels, while 16,600 and 17,000 are the critical levels to watch for the current week.
BANK NIFTY @ 37,759 📉▼ 599 (-1.5%)
Bank Nifty decisively breached the 38,000 mark and remained under pressure throughout the day. All twelve stocks of the banking index ended in the red, with Punjab National Bank (-5.0%), AU Small Finance Bank (-4.0%) and Bandhan Bank (-3.4%) cracking the most.
Bank Nifty’s options contracts expiring on 29 September have sizable positions at 39,000 and 38,500 call options and 37,000 and 38,000 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 37,000 and 38,500 levels, while 37,300 and 38,200 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹2,772 crore, while DIIs bought shares worth ₹2,544 crore. In the derivatives market, FIIs bought index futures worth ₹103 crore and bought index options worth ₹9,252 crore. Further, they sold stock futures worth ₹400 crore and sold stock options worth ₹196 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 2.4% to 22.10
Stock Action📊
Long build-up was seen in Can Fin Homes, India Cements, Marico, Sun Pharma and Nestle India.
Short build-up was seen in Axis Bank, Indus Towers, Titan, Punjab National Bank and Reliance Industries.
Under F&O Ban: Vodafone-Idea.
*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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