Asian Markets Update @ 8 am 🕗
SGX NIFTY was trading higher by 102 points at 8 am, signalling a positive start for the NIFTY 50 today. Major Asian markets also advanced. In Japan, the Nikkei 225 rose 0.5%, while Hong Kong's Hang Seng index soared 2.1%.
Global Markets Update
U.S markets swung between gains and losses and closed Thursday's session higher. Stocks rose after U.S Federal Reserve Governor Jerome Powell said they are strongly committed to fighting inflation, but there remains hope that it can be done without the 'very high social costs' involved in prior inflation fights.
The Dow Jones jumped 0.6%, while the tech-focused Nasdaq advanced 0.6%. European markets closed mixed in the range of -0.09% to +0.3%.
Index Action
NIFTY 50 @ 17,798 📈 ▲ 174 (+0.9%)
Following a recovery in global markets and a sharp fall in crude oil prices, NIFTY 50 soared nearly 1% and closed Thursday's session higher. The index registered gains of 174 points and closed just below the 17,800 mark.
Among sectoral indices, PSU Bank (+2.5%) and Nifty Bank (+1.9%) were the top gainers, while Metal (-0.9%) and Media (-0.4%) were the top losers.
NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 18,500 call options and 16,000 and 16,500 put options.
NIFTY 50’s options contracts expiring on 15 September have sizable positions at 18,000 and 17,800 call options and 17,500 and 17,600 put options.
As per options data, the broad range for the NIFTY 50 is between 17,000 and 18,600 levels. Its immediate support is at 17,500 and resistance is at 18,000 levels.
BANK NIFTY @40,208 📈▲ 753 (+1.9%)
BANK NIFTY crossed the 40,000 mark and climbed the new high of 40,265, the highest level in over ten months. The index added 753 points and closed Thursday's session nearly 2% higher. Except for Federal Bank (-0.5%), all other eleven stocks of the index ended in the green, with Axis Bank (+3.2%) and Bank of Baroda (+3.0%) being the top gainers.
BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 42,000 and 41,000 call options and 38,000 and 39,000 put options.
BANK NIFTY’s options contracts expiring on 15 September have sizable positions at 41,000 and 42,000 call options and 39,500 and 40,000 put options.
As per the options data, the broad range for the BANK NIFTY is between 38,800 and 41,200 levels. Its immediate support is at 39,700 and resistance is at 40,600 levels.
FII and DII Data**
In the cash market, FIIs bought shares worth ₹2,913 crore, while DIIs sold shares worth ₹212 crore. In the derivatives market, FIIs bought index futures worth ₹853 crore and sold index options worth ₹4,142 crore. Further, they sold stock futures worth ₹1,719 crore and sold stock options worth ₹44 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, slipped 5.4% to 18.31.
Stock Action📊
Long build-up was seen in Astral, Shree Cement, Indian Oil Corporation, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) and RBL Bank.
Short build-up was seen in Interglobe Aviation (Indigo), ICICI Lombard, Voltas, Whirlpool and Tata Steel.
Under F&O Ban: Delta Corp.
*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.