Global Markets Update
SGX Nifty is trading in the green, up by 83 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.1% (7 am) and Hong Kong’s Hang Seng Index slipped 0.4% (7am).
The US markets ended the volatile session higher. The Dow Jones and the Nasdaq both added 0.2%. With the US Fed expected to raise interest rates by 50 basis points later today, the investors will be focused and await further clues on how it plans to tackle the inflation. The European markets ended higher in the range of 0.2% to +0.7%.
Stock Action
Long build-up was seen in Tata Chemicals, Can Fin Homes, Godrej Properties, Shree Cement and Aurobindo Pharma.
Short build-up was seen in Dixon, Escorts, Aarti Industries, Titan and ONGC.
Major companies announcing results today are ABB, Deepak Nitrite, Havells, Kotak Mahindra Bank and Tata Consumer Products.
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 ₹1,853 crore, while DIIs were net buyers of ₹1,951 crore. In the derivatives market, FIIs sold index futures worth ₹790 crore, and sold index options worth ₹7,327 crore. Further, they bought stock futures worth ₹849 crore and bought stock options worth ₹20 crore.
Index Action
Nifty50
On Monday, the Nifty50 sharply recovered its losses in the second half but closed the first session of the May month lower. Out of Nifty50 stocks, 30 stocks closed the session lower, including heavyweights like Reliance and Infosys. However, the rebound in metal, financials and FMCG stocks provided some support. The Nifty50 slipped 33 points and ended the day at 17,069.
The India VIX climbed 4.4% to 20.28.
The Nifty50’s options contracts expiring on May 26 are scattered and have sizable positions at 18,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on May 5 have sizable positions at 17,500 and 17,300 call options and 17,000 and 16,900 put options.
As per options data, the broad range for the Nifty50 is between 16,200 and 17,900 levels. Its immediate support is at 16,800 and resistance is at 17,400 levels.
Bank Nifty
Despite weakness in the broader market, the Bank Nifty rose 0.2% and closed the session in green. The turnaround in the index was led by private banks like IndusInd Bank and HDFC Bank. However, with nine out of its 12 stocks closing in red, the breadth of the banking index remained negative. The Bank Nifty rose 75 points higher to 36,163.
The Bank Nifty’s options contracts expiring on May 26 are scattered and have sizable positions at 38,000 and 39,000 call options and 36,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on May 5 have sizable positions at 37,000 and 36,500 call options and 36,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,900 and 37,500 levels. Its immediate support is at 35,400 and resistance is at 36,800 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.