Asian Markets Update @7 am 🕖
SGX Nifty was trading lower by 63 points at 7 am, signalling a negative start for the Nifty50 today. Major Asian markets are trading mixed. In Japan, the Nikkei rose 0.06%, while Hong Kong’s Hang Seng index slipped 0.7%.
Global Markets Update
On Friday, the US markets closed on a mixed note as stronger than expected US jobs report again stoked rate hike concerns. The Dow Jones rose +0.2%, while the tech-heavy Nasdaq slipped -0.5%. The European markets closed lower in the range of -0.1% to -0.6%.
Stock Action📊
Long build-up was seen in ICICI Prudential, JK Cement, Godrej Consumer, NTPC and Indigo.
Short build-up was seen in GAIL, Balrampur Chini, Crompton, Balkrishna Industries and Voltas.
Key results today: Adani Ports, Bharti Airtel, City Union Bank, GNFC, Indian Hotels, NALCO, Power Grid and Torrent Power.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹1,605 crore, while DIIs were net sellers of ₹495 crore. In the derivatives market, FIIs bought index futures worth ₹901 crore and sold index options worth ₹2,301 crore. Further, they bought stock futures worth ₹850 crore and sold options worth ₹67 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 1.7% to 18.91.
Index Action
Nifty50 @ 17,397📈 ▲+15 (+0.09%)
Nifty50 ended Friday's session with marginal gains after the RBI hiked the repo rate by 0.5% to 5.4%. Among sectoral indices, the heavyweights IT (+0.6%) and Banking (+0.4%) were the top gainers, while Auto (-1.0%) and Metal (-0.4%) came under selling pressure.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s options contracts expiring on 11 August have sizable positions at 17,500 and 17,600 call options and 17,000 and 17,300 put options.
As per options data, the broad range for the Nifty50 is between 16,500 and 18,000 levels. Its immediate support is at 17,200 and resistance is at 17,600 levels.
Bank Nifty @37,920📈▲+165 (+0.4%)
The Bank Nifty fell from 38,150 levels and closed Friday's volatile session with gains of 0.4%. Among stocks, ICICI Bank (+2.1%) and AU Small Finance Bank (+1.7%) were the top gainers, while Bandhan Bank (-1.6%) and IndusInd Bank (-1.3%) were the top losers.
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 38,000 and 39,000 call options and 37,000 and 36,000 put options.
The Bank Nifty’s options contracts expiring on 11 August have sizable positions at 38,500 and 38,000 call options and 37,000 and 36,500 put options.
As per the options data, the broad range for the Bank Nifty is between 36,500 and 38,800 Â levels. Its immediate support is at 37,400 and resistance is at 38,300Â 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.