Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 10 points at 7:30 am, suggesting a flat start for the Nifty50 today. Major Asian markets were trading in the red. Nikkei 225 in Japan declined 0.6%, while Hong Kong’s Hang Seng index slipped 0.2%.
Global Markets Update
U.S. stocks closed lower on Tuesday as investors eyed protests in China and looked ahead to the U.S. Fed Governor Jerome Powell’s scheduled speech today.
The Dow Jones closed flat with a positive bias, while the S&P 500 lost 0.1% and closed at 3,957. The tech-focused Nasdaq Composite ticked lower by 0.5% and ended at 10,983. The European markets closed mixed in the range of -0.1% to 0.5%.
Index Action
Nifty50 @ 18,618 📈▲ 55 (+0.30%)
Despite negative global cues, the Nifty50 index extended its winning streak and closed higher for the sixth day in a row. However, towards the fag-end the index cooled off from its fresh all-time high on account of profit booking.
Nifty50’s options contracts expiring on 29 December have sizable positions at 18,500 and 19,000 call options and 18,000 and 18,500 put options.
Nifty50’s options contracts expiring on 1 December have sizable positions at 18,700 and 18,800 call options and 18,500 and 18,600 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, 18,400 and 18,800 are the critical levels to watch for the current week.
Bank Nifty @ 43,053 📈▲ 33 (+0.08%)
The Bank Nifty remained range bound and closed flat for the second consecutive day. The banking index surrendered all its initial gains in the latter half of the session and witnessed selling pressure around the 43,300 mark.
Among banking stocks, Bandhan Bank (+4.3%) and ICICI Bank (+1.0%) were the prominent gainers. AU Small Finance Bank (-1.7%) and Punjab National Bank (-1.6%) 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 43,200 and 43,500 call options and 43,000 and 42,000 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,000 and 44,200 levels. On the other hand 42,600 and 43,600 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth 1,241 crore, while DIIs sold shares worth ₹744 crore. In the derivatives market, FIIs bought index futures worth ₹339 crore and sold index options worth ₹5,327 crore. Further, they sold stock futures worth ₹299 crore and sold stock options worth ₹115 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, marginally rose by 0.3% to 13.61.
Stock Action📊
Long build-up was seen in Bandhan Bank, Aditya Birla Capital, Hindustan Unilever, ICICI Prudential and Hero MotoCorp.
Short build-up was seen in Laurus Labs, ABB, Jubilant FoodWorks, Maruti Suzuki and Indraprastha Gas.
Under F&O Ban: BHEL, Delta Corp, Indiabulls Housing Finance and Punjab National Bank.
*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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