Asian Markets Update @7 am 🕖
The SGX Nifty is trading higher by 39 points, signalling a positive start for the Nifty50 today. Major Asian markets are also trading higher. In Japan, the Nikkei rose 0.5%, while Hong Kong’s Hang Seng index advanced 1.0%.
Global Markets Update
The US markets closed lower on Tuesday as diplomatic tensions between US and China escalated following US House of Representatives Speaker Nancy Pelosi's visit to Taiwan. The Dow Jones fell 1.2%, while the tech-focused Nasdaq slipped 0.1%. The European markets closed flat to negative in the range of -0.06% to -0.4%.
Stock Action📊
Long build-up was seen in Container Corporation of India, Eicher Motors, Bosch, AU Small Finance Bank and Aditya Birla Fashion and Retail (ABFRL).
Short build-up was seen in Firstsource Solutions, Syngene International, Escorts, Indus Towers and GAIL.
Key results today: AB Capital, Birlasoft, Chambal Fertilisers, Firstsource Solutions, Godrej Consumer, Gujarat Gas, Vodafone Idea , Lupin and PI Industries.
FII/DII Activity**
In the cash market, FIIs bought shares worth ₹825 crore, while DIIs purchased stocks worth ₹117 crore. In the derivatives market, FIIs sold index futures worth ₹2,727 crore and bought index options worth ₹5,344 crore. Further, they bought stock futures worth ₹74 crore and sold stock options worth ₹175 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 5.9% to 18.53.
Index Action
Nifty50 @ 17345 📈 ▲ 5 (+0.03%)
The Nifty50 ended Tuesday's volatile session flat and registered marginal gains. Among sectors, PSU Bank (+2.6%) and FMCG (0.6%) were the top gainers, while Realty (1.6%) and IT (0.6%) witnessed selling pressure.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s options contracts expiring on 4 August have sizable positions at 17,500 and 17,600 call options and 17,200 and 17,000 put options.
As per options data, the broad range for the Nifty50 is between 16,400 and 17,900 levels. Its immediate support is at 17,100 and resistance is at 17,600 levels.
Bank Nifty @38,024📈▲ 120 (+0.3%)
The Bank Nifty moved higher and closed in the green for the fifth day in a row, led by gains in shares of heavyweights SBI and Kotak Mahindra Bank. Among stocks, Bank of Baroda (+4.6%) and Federal Bank (+3.7%) were the top gainers, while HDFC Bank (-1.1%) and ICICI Bank (-0.6%) were the top losers. .
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 38,000 and 39,000 call options and 37,000 and 36,000 put options.
The Bank Nifty’s options contracts expiring on 4 August have sizable positions at 38,000 and 39,000 call options and 38,000 and 37,500 put options.
As per the options data, the broad range for the Bank Nifty is between 36,600 and 39,000 levels. Its immediate support is at 37,300 and resistance is at 38,500 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.
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