Asian Markets Update @ 7:30 am
The SGX Nifty was trading lower by 11 points at 7:30 am, suggesting a flat to negative start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan fell 0.9%, while Hong Kong’s Hang Seng index advanced 1.8%.
Global Markets Update
U.S. stocks extended this week’s downward trend on Wednesday and closed the choppy session lower. The Dow Jones closed flat at 33,597, while the S&P 500 slumped 0.1% to 3,933 and fell for the fifth day in a row. The tech-focused Nasdaq declined 0.5% and ended at 10,958.
Index Action
Nifty50 @ 18,560 📉▼ 82 (-0.44%)
The Nifty50 index closed the volatile session lower and broke the 18,600-mark on a closing basis. This comes after the RBI hiked the key interest rate by 0.35% to 6.25%.
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 18,700 call options and 18,600 and 18,500 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,800 and 19,000 levels. On the other hand, 18,400 and 18,700 are the critical levels to watch for the current week.
Bank Nifty @ 43,098 📉▼ 39 (-0.09%)
The Bank Nifty outperformed the broader markets and closed Wednesday's session on a flat note. In the last ten trading sessions, the index hovered in a range of 800 points and closed on a flat note in four out of ten sessions.
Among banking stocks, AU Small Finance Bank (+3.4%) and Bank of Baroda (+1.2%) advanced the most. Federal Bank(-2.0%) and IDFC First Bank (-1.7%) were the top laggards.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 45,000 call options and 43,000 and 42,000 put options.
Bank Nifty’s options contracts expiring on 8 December have sizable positions at 43,200 and 43,500 call options and 43,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,000 and 43,800 levels. On the other hand 42,500 and 43,500 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹1,241 crore, while DIIs bought shares worth ₹388 crore. In the derivatives market, FIIs sold index futures worth ₹1,218 and sold index options worth ₹1,036 crore. Further, they sold stock futures worth ₹918 crore and sold stock options worth ₹148 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options climbed 0.2% to 14.08.
Stock Action📊
Long build-up was seen in HDFC AMC, Siemens, Power Finance Corporation, REC and AU Small Finance Bank.
Short build-up was seen in Crompton Greaves, Delta Corp, Bata India, Kotak Mahindra Bank and Eicher Motors.
Under F&O Ban: GNFC, Indiabulls Housing Finance and Punjab National Bank.
*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.