Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 43 points at 7:30 am, suggesting a positive start for the Nifty50 today. Major Asian markets were also trading in the green. Nikkei 225 in Japan rose 0.1%, while Hong Kong’s Hang Seng index gained 2.8%.
Global Markets Update
The U.S. stocks closed mixed on Friday after stumbling between gains and losses. The Dow Jones advanced 0.1% and closed at 34,429, while S&P 500 dipped by the same margin and ended the session at 4,071. The tech-heavy Nasdaq fell 0.1% and ended at 11,461.
Index Action
Nifty50 @ 18,696 📉▼ 116 (-0.6%)
The Nifty50 index closed up for a second straight week, barring Friday’s profit booking. Among the Nifty sectoral indices, Media (+1.2%) and Realty (+0.9%) advanced the most, while Auto (-1.1%) and Financial Services (-0.6%) were the laggards on Friday.
Nifty50’s options contracts expiring on 29 December have sizable positions at 19,000 and 20,000 call options and 18,000 and 18,500 put options.
Nifty50’s options contracts expiring on 8 December have sizable positions at 18,800 and 19,000 call options and 18,700 and 18,600 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 18,000 and 19,200 levels. On the other hand, 18,400 and 18,900 are the critical levels to watch for the current week.
Bank Nifty @ 43,103 📉▼ 156 (-0.3%)
The Bank Nifty remained under pressure and traded sideways throughout the session. In the last seven trading sessions, the banking index has been consolidating in the range of 43,500 and 42,700.
Among banking stocks, Bandhan Bank (+1.9%) and AU Small Finance Bank (+1.4%) topped the charts, while the private majors ICICI Bank (-1.0%) and HDFC Bank (-0.7%) dragged the index lower.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 44,000 call options and 43,000 and 42,000 put options.
Bank Nifty’s options contracts expiring on 8 December have sizable positions at 43,500 and 43,000 call options and 43,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,200 and 44,200 levels. On the other hand 42,800 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 ₹214 crore, while DIIs purchased shares worth ₹712 crore. In the derivatives market, FIIs sold index futures worth 3,917 and sold index options worth ₹1,109 crore. Further, they sold stock futures worth ₹2,043 crore and sold stock options worth ₹44 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 0.6% to 13.45.
Stock Action📊
Long build-up was seen in United Breweries, Oracle Financial Software Services, Vedanta, L&T Finance and India Cements.
Short build-up was seen in Eicher Motors, Sun TV, Bajaj Finance, Syngene International and Tata Consumer.
Under F&O Ban: 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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