Global Markets Update
SGX Nifty is trading in the red, down by 200 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 2.1% (7 am), while markets in Hong Kong are closed today for a holiday.
The US markets ended lower on Friday as aggressive rate hikes concerns stoked fear of economic growth slowing down. The Dow Jones dropped 0.3%, and the Nasdaq fell 1.4%. The European markets ended lower in the range of -1.7% to -1.5%.
Stock Action
Long build-up was seen in ABB, Colgate-Palmolive, Hero MotoCorp, Power Grid and ITC.
Short build-up was seen in Torrent Power, Federal Bank, Astral, Canara Bank and Aarti Industries.
Major companies announcing results today are Dalmia Bharat, GNFC, Godrej Agrovet, PVR and UPL.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, the FIIs were net sellers of ₹5,517 crore, while the DIIs were net buyers of ₹3,014 crore. In the derivatives market, the FIIs sold index futures worth ₹2,490 crore and bought index options worth ₹5,041 crore. Further, they sold stock futures worth ₹268 crore and sold stock options worth ₹51 crore.
Index Action
Nifty50
On Friday, the Nifty50 traded near a crucial support area of the 16,400-mark and closed the session 1.6% lower. The headline index posted a fourth consecutive weekly fall and ended the day 271 points lower at 16,411. Among sectors, Realty, IT and Financial Services were the biggest laggards.
The India VIX climbed 4.7% to 21.25.
The Nifty50’s options contracts expiring on May 26 are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on May 12 have sizable positions at 16,700 and 16,800 call options and 16,000 and 16,400 put options.
As per options data, the broad range for the Nifty50 is between 15,700 and 17,500 levels. Its immediate support is at 16,100 and resistance is at 16,700 levels.
Bank Nifty
The Bank Nifty ended the day 1.8% lower, a shade below the 34,600-mark. Except SBI, all the other eleven stocks of the Bank Nifty closed lower. On Friday, it tanked 641 points and closed at 34,591.
The Bank Nifty’s options contracts expiring on May 26 are scattered and have sizable positions at 39,000 and 36,000 call options and 33,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on May 12 have sizable positions at 36,000 and 36,500 call options and 34,500 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,200 and 35,800 levels. Its immediate support is at 34,000 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.