Asian Markets Update @ 8 am đź•—
SGX NIFTY is trading higher by 59 points, signalling a positive start for the NIFTY 50 today. Major Asian markets are trading mixed. In Japan, the Nikkei 225 rose 1.0%, while Hong Kong’s Hang Seng index dropped 1.7%.
Global Markets UpdateÂ
U.S. markets extended the previous week's fall and closed Monday's session lower. The Dow Jones dropped 0.5%, while the tech-heavy Nasdaq slipped 1.0%. European markets also closed lower in the range of -0.6% to -0.8%.
Index Action
NIFTY 50 @ 17,312 📉▼ 246 (-1.4%)
Following weak global cues, NIFTY 50 opened lower but rebounded from 17,150 levels. The index recovered most of its losses towards the end of the day and closed Monday's session 1.5% lower.Â
Except for FMCG (+0.3%) and Oil & Gas (+0.06%), all the other major sectoral indices closed in the red, with IT (-3.5%) and Media (-2.0%) cracking the most.Â
NIFTY 50’s options contracts expiring on 29 September are scattered and have sizable positions at 18,000 and 19,000 call options and 16,000 and 16,500 put options.Â
NIFTY 50’s options contracts expiring on 1 September have sizable positions at 17,700 and 17,500 call options and 17,000 and 17,300 put options.Â
As per options data, the broad range for the NIFTY 50 is between 16,400 and 18,000 levels. Its immediate support is at 17,150 and resistance is at 17,500 levels.
BANK NIFTY @38,276 📉▼ 710 (-1.8%)
Amid overall market weakness, BANK NIFTY was also off to a negative start and dipped below the 38,000 level. However, it marginally recovered and managed to close above the 38,000 mark.Â
Except for IDFC First Bank (+0.4%), all other eleven banking stocks closed in the red, with Bandhan Bank (-3.8%) and Kotak Mahindra Bank (-2.7%) being the top losers.
BANK NIFTY’s options contracts expiring on 29 September are scattered have sizable positions at 40,000 and 41,000 call options and 40,000 and 38,000 put options.Â
BANK NIFTY’s options contracts expiring on 1 September have sizable positions at 39,500 and 39,000 call options and 38,000 and 37,500 put options.Â
As per the options data, the broad range for the BANK NIFTY is between 37,000 and 39,500 levels. Its immediate support is at 37,900 and resistance is at 38,800 levels.Â
FII and DII Data**
In the cash market, FIIs were net sellers of â‚ą561 crore, while DIIs were net buyers of â‚ą144 crore. In the derivatives market, FIIs sold index futures worth â‚ą1,122 crore and sold index options worth â‚ą3,036 crore. Further, they sold stock futures worth â‚ą1,532 crore and bought stock options worth â‚ą187 crore.
India VIXÂ
The India VIX, a gauge of the market's volatility in the near term, climbed 8.7% to 19.82.Â
Stock Actionđź“Š
Long build-up was seen in Hindustan Copper, Colgate-Palmolive, India Cements, Escorts Kubota and Max Financial Services.Â
Short build-up was seen in Info Edge (Naukri), City Union Bank, Kotak Mahindra Bank, Voltas and REC.
*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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