Asian Markets Update @ 8:00 am
The SGX Nifty was trading higher by 0.7% or 127 points from its previous close, suggesting a positive start for the Nifty50 today. Major Asian markets are also trading in the green. Nikkei 225 in Japan is closed on account of a public holiday, while Hong Kong's Hang Seng index gained 2.2%.
Global Markets Update
US markets surged on Friday after the December jobs report came out showing cooling in wages and data pointing to a mild contraction in services activity. This data eased investor worries about a more hawkish Federal Reserve.
The Dow Jones jumped 2.1% to close at 33,630. The S&P 500 gained 2.2% and ended the day at 3,895. The tech-focused Nasdaq Composite rose 2.5% and closed at 10,569.
Index Action
Nifty50
January Futures: 17,949 📉▼112 (-0.6%)
The Nifty50 opened flat but soon slipped in the red. The index took support near the 17,800 level and ended the day 0.7% lower.
Except FMCG, all other the major sectoral indices ended lower with IT and Media falling the most.
Nifty50’s options contracts expiring on 12 January have sizable positions at 18,000 and 18,100 call options and 18,000 and 17,800 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,200 and 18,500 levels. On the other hand, 17,700 and 18,000 are the critical levels to watch for the current week.
Bank Nifty
January Futures: 42,362 📉▼412 (-0.9%)
After a flat start, the Bank Nifty fell and breached the psychologically important level of 42,000. A late recovery saw the index rise and close above the 42,000 mark but still ended with a near 1% drop.
Except Bandhan Bank (+0.8%), all other stocks of the banking index closed in red, with IndusInd Bank (-2.8%) and Kotak Mahindra Bank (-1.8%) being the top laggards.
Bank Nifty’s options contracts expiring on 12 January have sizable positions at 42,500 and 43,000 call options and 42,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 43,500 levels. On the other hand, 41,800 and 42,600 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹2,902 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹1,083 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹72 crore and bought index options worth ₹13,518 crore. Further, they sold stock futures worth ₹354 crore and sold stock options worth ₹87 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, rose 0.3%% to 15.03.
Stock Action📊
Long build-up was seen in ONGC, GNFC, Mahindra & Mahindra, MRF and Hindustan Copper.
Short build-up was seen in Cholamandalam Investment, Coal India, Bajaj Finserv, Atul Ltd and Bajaj Finance.
Under F&O Ban: 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.