Asian Markets Update @ 7 am
The SGX Nifty is trading 16 points (-0.1%) lower compared to its last close, indicating a flat to negative start for the Nifty50 today. Major Asian markets are trading higher. Japan's Nikkei 225 rose 0.4%, while Hong Kong’s Hang Seng advanced 0.2%.
Global Market Update
US stocks ended flat to positive ahead of the March jobs data. The Dow Jones rose 0.01% to close at 33,485. The S&P 500 jumped 0.3% to 4,105, while the Nasdaq Composite advanced 0.7% to close at 12,087.
Index Action
Nifty50
April Futures @ 17,650 📈▲28 (+0.1%)
OI Contracts: 2,08,406 (-0.4%)
The Nifty50 reversed early losses and ended higher after the RBI surprised by keeping the interest rates unchanged. The index settled above its 200 DMA and the downward-sloping channel.
Sectorally, Realty (+2.8%) and Auto (+0.9%) were the top gainers, whereas IT (-0.7%) and FMCG (-0.5%) were the top laggards.
The Nifty50 options expiring on 13 April have significant positions at 17,600 and 18,000 calls and 17,500 and 17,600 puts.
According to options data and OI analysis, the Nifty50's long range for the 27th April expiry is between 17,200 and 18,000. On the other hand, 17,400 and 17,800 is the short-term range for this week.
Bank Nifty
April Futures @ 41,176 📈▲34 (+0.08%)
OI Contracts: 94,762 (+3.7%)
Led by gains in PSU banks, the Bank Nifty rebounded from the 40,800 level and ended with modest gains.
Among banking stocks, AU Small Finance Bank (+1.9%) and IndusInd Bank (+1.3%) were the top gainers, while Federal Bank (-1.1%) and ICICI Bank (-1.0%) were the biggest laggards.
The Bank Nifty's options expiring on 13 April have significant positions at the 41,000 and 42,000 calls and 41,000 and 40,500 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th April expiry is between 39,800 and 42,200. On the other hand, 40,500 and 41,600 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹475 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹997 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹291 crore and sold index options worth ₹5,051 crore. Further, they bought stock futures worth ₹706 crore and sold stock options worth ₹22 crore.
India VIX
The fear gauge India VIX fell 4.9% to 11.80.
Stock Action📊
Long build-up was seen in Cholamandalam Finance, Can Fin Homes, Balrampur Chini, Ipca Labs and BHEL.
Short build-up was seen in Dabur, Bosch, Dixon Technologies, Metropolis and Bata India.
*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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