Asian Markets Update @7 am 🕖
The SGX Nifty traded higher by 65 points at 7 am, signalling a positive start for the Nifty50 today. Major Asian markets opened with healthy gains. In Japan, the Nikkei advanced 0.5%, while Hong Kong’s Hang Seng index climbed 1.4%.
Global Markets Update
The US markets closed higher on Wednesday amid signs of improving economic activity and a rally in tech stocks. The Dow Jones rose 1.2%, while the tech-focused Nasdaq climbed 2.5%. The European markets closed higher in the range of +0.4% to +1.0%.
Stock Action📊
Long build-up was seen in Nippon Life, Eicher Motors, Piramal Enterprises, Indian Hotels and Larsen & Toubro Infotech.
Short build-up was seen in Indus Towers, Alkem Labs, Chambal Fertilisers, Bosch and Dalmia Bharat.
Key results today: Adani Enterprises, Balkrishna Industries, Balrampur Chini, Berger Paints, BHEL, Britannia, Container Corporation of India, Dabur, GAIL, GSPL, LIC Housing Finance and Manappuram Finance.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹765 crore, while DIIs were net sellers of ₹518 crore. In the derivatives market, FIIs sold index futures worth ₹575 crore and sold index options worth ₹3,761 crore. Further, they sold stock futures worth ₹967 crore and bought options worth ₹98 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 0.4% to 18.45.
Index Action
Nifty50 @ 17,388📈 ▲ 42 (+0.2%)
The Nifty50 rebounded from 17,200 levels and ended in the green for the sixth day in a row. Except for IT (+1.3%) and Financial Services (+0.07%), all the major sectoral indices witnessed selling pressure, with Auto (-0.8%) and Pharma (-0.7%) being the biggest losers.
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 17,300 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 17,200 and resistance is at 17,600 levels.
Bank Nifty @37,989📉▼34 (-0.09%)
The Bank Nifty snapped its five-day winning streak and closed Wednesday's session with marginal losses. However, the index made a sharp recovery of more than 340 points from its intraday low but failed to close in the green. Among stocks, ICICI Bank (+0.8%) and Bandhan Bank (+0.6%) were the top gainers, while Kotak Mahindra Bank (-1.7%) and Federal Bank (-1.6%) 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 37,500 and resistance is at 38,400Â 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.