Global Markets Update 7 am
SGX Nifty is trading in the green, up by 149 points. Among Asian markets, Hong Kong’s Hang Seng index climbed 1.9% in early trade, while Japan and South Korea markets are shut today.
The US markets rebounded sharply after the Fed hiked the interest rate by a half percentage point. The Dow Jones climbed 2.8%, and the NASDAQ rose 3.1%. European markets ended lower in the range of -1.2% to -0.5%.
Stock Action
Long build-up was seen in Rain Industries, Britannia, NTPC, Exide and Tata Chemicals.
Short build-up was seen in Voltas, FSL, Apollo Hospitals, Info Edge and Sun Pharma.
Major companies announcing results today are Chola Investments, Dabur, FSL, Intellect Design, Marico, and TVS Motor.
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 ₹3,288 crore, while DIIs were net buyers of ₹1,338 crore. In the derivatives market, FIIs sold index futures worth ₹3,233 crore and bought index options worth ₹1,264 crore. Further, they sold stock futures worth ₹776 crore and sold stock options worth ₹102 crore.
Index Action
Nifty50
The Nifty50 tanked more than 2% after the RBI announced a surprise hike in repo rate in an unscheduled meeting. With only five stocks from the Nifty50 pack closing in green, the headline index tanked 391 points to 16,677. All 15 Nifty sectoral indices closed in red, with Media, Realty, and Metal losing more than 3%.
The India VIX climbed 7.8% to 21.87.
The Nifty50’s options contracts expiring on May 26 are scattered and have sizable positions at 17,000 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 17,000 and 17,100 call options and 16,500 and 16,600 put options.
As per options data, the broad range for the Nifty50 is between 16,000 and 17,800 levels. Its immediate support is at 16,400 and resistance is at 16,900 levels.
Bank Nifty
The Bank Nifty tanked more than 1,000 points to 35,127 from its intraday high after RBI stunned the markets with an increase in the repo rate. However, with the fag-end recovery of 100 points, it closed 899 points lower to 35,264. Barring Kotak Mahindra Bank, all the other 11 stocks of the banking index closed in red.
The Bank Nifty’s options contracts expiring on May 26 are scattered and have sizable positions at 39,000 and 36,000 call options and 36,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on May 5 have sizable positions at 36,500 and 36,000 call options and 35,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,100 and 37,000 levels. Its immediate support is at 34,700 and resistance is at 35,800 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.
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