Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 60 points at 7:30 am, indicating a positive start for the Nifty50 today. Major Asian markets were trading mixed. Nikkei 225 in Japan lost 0.1% while Hong Kong’s Hang Seng index advanced 0.8%.
Global Markets Update
U.S. stocks continued their strong momentum even as the midterm elections get underway and political gridlock historically being a boon for investors.
The Dow Jones rose 1.0% to 33,160, while the S&P 500 climbed 0.5% to close at 3,828. The tech-focused Nasdaq Composite rose 0.4% and closed at 10,616. The European markets closed Tuesday’s session on a flat to positive note, in the range of +0.08% to +1.1%.
Nifty50 @ 18,202 📈▲ 85 (+0.4%)
The Nifty50 continued its upward march and buying in the last hour of trade helped it close above 18,200. Among major sectoral indices, PSU Bank (+4.4%) and Metal (+1.5%) were the top gainers while Pharma (-1.4%) was a laggard.
Nifty50’s options contracts expiring on 24 November have sizable positions at 18,000 and 19,000 call options and 17,000 and 18,000 put options.
Nifty50’s options contracts expiring on 10 November have sizable positions at 18,500 and 18,300 call options and 18,000 and 18,100 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,800 and 18,700 levels. On the other hand, 18,050 and 18,400 are the critical levels to watch for next week.
Bank Nifty @ 41,686 📈▲ 428 (+1.0%)
Encouraged by gains in PSU banks, the Bank Nifty moved higher and came within striking distance of the all-time high level. Among stocks, Bank of Baroda (+9.5%) and SBI (3.4%%) advanced the most, while Bandhan Bank (-1.0%) and Kotak Mahindra Bank (-0.9%) were the top losers.
Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,000 and 43,000 call options and 40,000 and 41,000 put options.
Bank Nifty’s options contracts expiring on 10 November have sizable positions at 42,000 and 41,500 call options and 41,500 and 40,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 42,600 levels. On the other hand 41,300 and 42,000 are the critical levels to watch for next week.
FII and DII Data**💰
In the cash market, FIIs bought shares worth ₹1,948 crore, while DIIs sold shares worth ₹844 crore. In the derivatives market, FIIs sold index futures worth ₹108 crore and sold index options worth ₹1,657 crore. Further, they bought stock futures worth ₹449 and sold stock options worth ₹223 crore.
The India VIX, which measures the implied volatility of Nifty50 options slipped 0.4% to 15.59.
Long build-up was seen in Apollo Tyres, Britannia, India Cements, MRF and Manappuram Finance.
Short build-up was seen in Divi’s Labs, Marico, Crompton Greaves, ABFRL and Asian Paints.
Key results today: Balrampur Chini, Godrej Properties, Lupin, NALCO, Piramal Enterprises, Pidilite and Tata Motors.
Under F&O Ban: -
*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.
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