Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 71 points at 7:30 am, signalling a gap-up start for the Nifty50 today. Major Asian markets were also trading in the red. Nikkei 225 in Japan rose 1.2%, while Hong Kong’s Hang Seng index added 0.5%.
Global Markets Update
U.S. markets closed higher on Thursday, with the S&P 500 regaining some ground after five consecutive sessions of losses. The S&P 500 advanced 0.7% to 3,963, while the Dow Jones bounced 0.5% to 33,781. The tech-focused Nasdaq climbed 1.1% and ended the session at 11,082.
Index Action
Nifty50 @ 18,609 📈▲ 48 (+0.2%)
The Nifty50 index continued its range-bound trend and closed the weekly options expiry with marginal gains. The 50-pack index reclaimed the 18,600 mark and remained stuck in the trading range of 18,500-18,700.
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 15 December have sizable positions at 18,600 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 18,000 and 19,000 levels. On the other hand, 18,400 and 18,600 are the critical levels to watch for the current week.
Bank Nifty @ 43,596 📈▲ 498 (+1.1%)
The Bank Nifty continued its outperformance and surpassed the hurdle of 43,500 on a closing basis. Led by broad-based buying in the banking pack, the index moved out of its 800-point trading range after ten days of consolidation.
Among stocks, Bank of Baroda (+6.6%) and Punjab National Bank (+4.0%) topped the charts, while Kotak Mahindra Bank(-0.7%) was the only loser.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 44,000 and 45,000 call options and 43,000 and 42,000 put options.
Bank Nifty’s options contracts expiring on 15 December have sizable positions at 43,500 and 44,000 call options and 43,000 and 43,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 42,500 and 44,400 levels. On the other hand 43,000 and 43,800 are the critical levels to watch for the current week.
FII and DII Data**💰
In the cash market, FIIs sold shares worth ₹1,131 crore, while DIIs bought shares worth ₹772 crore. In the derivatives market, FIIs bought index futures worth ₹769 crore and bought index options worth ₹11,170 crore. Further, they bought stock futures worth ₹27 crore and sold stock options worth ₹141 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options collapsed 4.8% to 13.39.
Stock Action📊
Long build-up was seen in Bank of Baroda, Coromandel International, Axis Bank, Chambal Fertilisers and Canara Bank.
Short build-up was seen in Kotak Mahindra Bank, Dixon Technologies, Bata India, Sun Pharma and Divi's Labs.
Under F&O Ban: GNFC and Indiabulls 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.