Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 88 points at 7:30 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading higher. Hong Kong’s Hang Seng index advanced 0.8%, while Nikkei 225 in Japan gained 1.3%.
Global Markets Update
U.S. stocks closed Friday’s session higher and snapped a four day losing streak after encouraging jobs data.
The Dow Jones rose 1.2% to 32,403, while the S&P 500 climbed 1.3% to close at 3,770. The tech-focused Nasdaq Composite rose 1.2% and closed at 10,475. The European markets closed Friday’s session on a mixed note, in the range of +2.0% to +2.8%.
Index Action
Nifty50 @ 18,117 📈▲ 64 (+0.3%)
On the back of strong FII buying and encouraging PMI data, the Nifty50 ended Friday’s session higher. Among major sectoral indices, Metal (+4.2%) and Media (+1.0%) were the top gainers while Pharma (-1.0%) and IT (-0.3%) were the laggards.
Nifty50’s options contracts expiring on 10 November have sizable positions at 18,000 and 18,100 call options and 18,000 and 18,100 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,500 and 18,500 levels. On the other hand, 17,950 and 18,350 are the critical levels to watch for next week.
Bank Nifty @ 41,258 📉▼ 39 (-0.1%)
The Bank Nifty index underperformed the broader markets and closed Friday's session lower. Among stocks, SBI (1.5%) and PNB (+1.4%) advanced the most, while Bank of Baroda (-2.1%) and Bandhan Bank (-2.3%) were the top losers.
Bank Nifty’s options contracts expiring on 10 November have sizable positions at 42,000 and 41,500 call options and 41,000 and 40,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 40,400 and 42,200 levels. On the other hand 40,800 and 41,600 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹1,436 crore, while DIIs sold shares worth ₹548 crore. In the derivatives market, FIIs sold index futures worth ₹245 crore and bought index options worth ₹9,452 crore. Further, they sold stock futures worth ₹26 and bought stock options worth ₹32 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options 0.2% to 15.66.
Stock Action📊
Long build-up was seen in Bajaj Finserv, Amara Raja Batteries, Tata Steel, City Union Bank and Aditya Birla Capital.
Short build-up was seen in ABFRL, Hero Moto Corp, SRF, Voltas and Delta Corp.
Key results today: Aditya Birla Capital, BPCL, Coal India, Divis Labs and India Cement
Under F&O Ban: LIC 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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