Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 77 points at 7:30 am, suggesting a negative start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan was trading flat with a positive bias, while Hong Kong’s Hang Seng index slipped 0.7%.
Global Markets Update
U.S. markets ended Monday's session lower, as better-than-expected data from the services sector spooked the investors.
The Dow Jones fell 1.4% to finish at 33,947, while the S&P 500 slumped 1.7% and closed at 3,998. The tech-focused Nasdaq tumbled 1.9% and ended at 11,239.
Index Action
Nifty50 @ 18,701 📈▲ 4 (+0.03%)
The Nifty50 index closed the Monday's volatile session flat. The index continued its profit-booking trend from record highs as investors turned cautious ahead of the RBI’s policy announcement on 7th December.
Among the Nifty sectoral indices, Metal (+1.8%) and PSU Bank (+1.2%) advanced the most, while IT (-0.5%) and Oil & Gas (-0.3%) dragged the market lower.
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 18,500 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 18,800 are the critical levels to watch for the current week.
Bank Nifty @ 43,332 📈▲ 229 (+0.53%)
The Nifty Bank outperformed the broader markets and closed yesterday's session higher. Except for Axis Bank (-0.6%), all the other eleven index stocks closed in the green. Federal Bank (+3.0%) and IDFC First Bank (+2.3%) were the top index gainers.
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 44,000 call options and 43,000 and 42,200 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,200 and 44,000 levels. On the other hand 42,900 and 43,600 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹1,139 crore, while DIIs bought shares worth ₹2,607 crore. In the derivatives market, FIIs bought index futures worth ₹239 and bought index options worth ₹2,266 crore. Further, they sold stock futures worth ₹866 crore and sold stock options worth ₹6 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 2.0% to 13.73.
Stock Action📊
Long build-up was seen in M&M Financial, Hindalco, City Union Bank, Manappuram Finance and Can Fin Homes.
Short build-up was seen in Tata Motors, Tata Power, Intellect Design, Dalmia Bharat and Navin Fluorine.
Under F&O Ban: Delta Corp, GNFC and Indiabulls Housing Finance.
*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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