Asian Markets Update @7 am
The SGX Nifty is trading higher by 138 points, signalling a positive start for the Nifty50 today. Major Asian markets are also trading higher. In Japan, the Nikkei rose 1.2%, while Hong Kong’s Hang Seng index advanced 1.3%.
Global Markets Update
The US markets closed higher on Thursday ahead of June's release of US jobs data. The Dow Jones climbed 1.1%, while the tech-heavy Nasdaq surged 2.3%. The European markets closed in the range of +1.1% to +1.9%.
Stock Action
Long build-up was seen in NBCC, Hindalco, Tata Steel, Apollo Tyres and Mahindra & Mahindra.
Short build-up was seen in Intellect Design Arena, Hindustan Aeronautics Ltd and Dr. Reddy's Laboratories.
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹925 crore, while DIIs were net buyers of ₹980 crore. In the derivatives market, FIIs bought index futures worth ₹1,263 crore and index options worth ₹5,517 crore. Further, they bought stock futures and stock options worth ₹132 crore and ₹2 crore.
Index Action
Nifty50
The Nifty50 extended gains for the second consecutive day and closed above the psychologically important 16,000 mark. Supported by positive global cues and falling commodity prices, the index kept the morning gains intact and closed near the day's high. The Nifty50 jumped 143 points and ended the session at 16,132.
The India VIX, a gauge of the market's volatility in the near term, slipped 5.2% to 19.20 on the F&O weekly expiry.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 16,500 and 17,000 call options and 15,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 14 July have sizable positions at 16,200 and 16,500 call options and 15,900 and 16,000 put options.
As per options data, the broad range for the Nifty50 is between 15,600 and 16,700 levels. Its immediate support is at 15,900 and resistance is at 16,300 levels.
Bank Nifty
The Bank Nifty started yet another session on a positive note and climbed the 34,200 mark, led by gains in private heavyweights ICICI Bank, HDFC Bank and Kotak Mahindra Bank. The Bank Nifty jumped 535 points and closed yesterday's session at 34,920.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 36,000 and 35,000 call options and 34,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on 14 July have sizable positions at 35,000 and 35,500 call options and 34,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 33,700 and 36,400 levels. Its immediate support is at 34,400 and resistance is at 35,200 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.