Asian Markets Update @ 8 am 🕗
SGX NIFTY is trading higher by 18 points, signalling a positive start for the NIFTY 50 today. Major Asian markets are trading on a mixed note. In Japan, the Nikkei 225 rose 0.01 %, while Hong Kong's Hang Seng index lost 0.4%.
Global Markets Update
U.S markets were closed on Monday on account of Labour day. European markets ended mixed in the range of -2.2% to +0.1%.
Index Action
NIFTY 50 @ 17,665 📈▲ 126 (+0.7%)
NIFTY 50 started Monday's session on a positive note and remained in the green throughout the whole session. All the major sectoral indices ended in the green, with Media (+2.7%) and Metal (+1.6%) being the top gainers.
Among stocks, Hindalco (+3.4%) and JSW Steel (+3.1%) were the biggest gainers, while Nestle (-1.7%) and Bajaj Auto (-1.7%) were the laggards.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 17,500 and 18,000 call options and 16,000 and 16,500 put options.
NIFTY 50’s options contracts expiring on 8 September have sizable positions at 17,700 and 18,000 call options and 17,600 and 17,500 put options.
As per options data, the broad range for the NIFTY 50 is between 16,900 and 18,200 levels. Its immediate support is at 17,400 and resistance is at 17,800 levels.
BANK NIFTY @39,805 📈▲ 384 (+0.9%)
BANK NIFTY rose nearly 1% and closed Monday's session above the 39,600 mark. All the twelve stocks of the index closed in the green, with IDFC First Bank (+4.6%) and Federal Bank (+3.3%) being the top gainers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 40,000 and 41,000 call options and 40,000 and 38,000 put options.
BANK NIFTY’s options contracts expiring on 8 September have sizable positions at 40,000 and 41,500 call options and 38,000 and 39,000 put options.
As per the options data, the broad range for the BANK NIFTY is between 38,200 and 40,800 levels. Its immediate support is at 39,000 and resistance is at 40,200 levels.
FII and DII Data**
In the cash market, FIIs were net sellers of ₹811 crore, while DIIs were net buyers of ₹533 crore. In the derivatives market, FIIs bought index futures worth ₹1,111 crore and bought index options worth ₹2,153 crore. Further, they bought stock futures worth ₹826 crore and sold stock options worth ₹228 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 0.5% to 19.66.
Stock Action📊
Long build-up was seen in Exide Industries, Dixon Technologies, Rain Industries, IDFC First Bank and Indian Hotels.
Short build-up was seen in Bajaj Auto, Syngene International, Astral, Abbott India and Container Corporation of India
Under F&O Ban: Delta Corp.
*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.