Global markets update
The SGX Nifty is trading in the green, up by 125 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 1.7% and Hong Kong’s Hang Seng index climbed 1% at 7 am India time.
The US markets extended their gains and settled in positive territory. The Dow Jones rose 1.7%, while the Nasdaq climbed 3.3%. European markets closed higher in the range of 0.2% to 1.6%.
Stock action
Long build-up was seen in ABB, HDFC AMC, Page Industries, Ramco Cements and HAL.
Short build-up was seen in Muthoot Finance, Cummins India, Oberoi Realty, Indus Towers and Ipca Labs.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,943 crore, while DIIs were net buyers of ₹2,727 crore. In the derivatives market, FIIs bought index futures worth ₹873 crore and index options worth ₹5,080 crore. Further, they bought stock futures worth ₹726 crore and bought stock options worth ₹125 crore.
Index action
Nifty50
Following strong global cues, the Nifty50 extended its opening gains and settled above the 16,300-mark. IT and banking stocks rallied higher, while oil & gas and metal stocks remained under pressure. On Friday, the Nifty50 closed 182 points higher at 16,352.
The India VIX slipped 5.5% to 21.48.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 2 June have sizable positions at 16,300 and 16,500 call options and 16,300 and 16,000 put options.
As per options data, the broad range for the Nifty50 is between 15,700 and 17,000 levels. Its immediate support is at 16,100 and resistance is at 16,500 levels.
Bank Nifty
The Bank Nifty started the June series on a positive note, led by strong momentum in both private and PSU banks. On Friday, the Bank Nifty logged gains of 1.4% and closed at 35,613. Barring AU Small Finance Bank, all the other eleven stocks of the banking index closed higher.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 38,000 and 36,000 call options and 33,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,200 and 36,800 levels. Its immediate support is at 34,900 and resistance is at 36,200 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.