Global Markets Update
The SGX Nifty is trading in the red, down by 52 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 0.06%, and Hong Kong’s Hang Seng index climbed 0.2% at 7 am India time.
The US markets slipped during the midday hours and closed the volatile session lower on Wednesday. The Dow Jones fell 0.8%, while the Nasdaq dropped 0.7%. European markets ended lower in the range of 0.1% to 0.6%.
Stock Action
Long build-up was seen in TVS Motor, Dalmia Bharat, Bandhan Bank, M&M Financial and Muthoot Finance.
Short build-up was seen in Gujarat Gas, ICICI Lombard, Deepak Nitrite, Polycab and GNFC.
F&O stocks in ban
Stocks in ban: Delta Corp
Stocks added: Delta Corp
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,484 crore, while DIIs were net buyers of ₹1,904 crore. In the derivatives market, FIIs sold index futures worth ₹734 crore and sold index options worth ₹5,160 crore. Further, they bought stock futures worth ₹57 crore and bought stock options worth ₹47 crore.
Index Action
Nifty50
The Nifty50 fell from higher levels of 16,500 and settled lower for the fourth day in a row. Losses in FMCG and Oil & Gas sectors dragged the index lower, while gains in Realty, IT and Pharma sectors cushioned the fall. The Nifty50 ended the day at 16,356, down by 60 points.
The India VIX slipped 2.9% to 19.84.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 9 June have sizable positions at 16,600 and 16,500 call options and 16,000 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,400 and 17,000 levels. Its immediate support is at 16,100 and resistance is at 16,600 levels.
Bank Nifty
Following the RBI’s repo rate hike, the Bank Nifty surged 600 points from its low and crossed the 35,400-mark. However, the index eventually succumbed to the selling pressure at higher levels and ended in the red. The Bank Nifty fell 49 points to 34,946.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 35,000 call options and 35,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 9 June have sizable positions at 36,000 and 35,500 call options and 34,500 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,000 and 36,200 levels. Its immediate support is at 34,400 and resistance is at 35,600 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