Asian Markets Update @ 7 am
The SGX Nifty is trading 27 points (+0.1%) higher compared to its last close, indicating a flat to a positive start for the Nifty50 today. Major Asian markets are trading higher. Japan's Nikkei 225 rose 1.1%, while Hong Kong’s Hang Seng advanced 1.0%.
Global Market Update
US stocks ended mixed as investors await key inflation data and earnings season kick-off. The Dow Jones rose 0.3% to close at 33,586. The S&P 500 advanced 0.1% to 4,109, while the Nasdaq Composite declined 0.03% to close at 12,084.
Index Action
Nifty50
April Futures @ 17,677 📈▲32 (+0.1%)
OI Contracts: 1,96,234 (-5.8%)
The Nifty50 settled higher for the sixth straight session, the longest winning streak in four months. The index traded in a tight range throughout the day, with Auto and IT stocks pushing it higher while Financial stocks limited its upside.
Sectorally, Realty (+4.2%) and Auto (+1.1%) were the top gainers, whereas PSU Bank (-0.6%) and Private Bank (-0.5%) were the biggest laggards.
The Nifty50 options expiring on 13 April have significant positions at 18,000 and 17,700 calls and 17,600 and 17,500 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 @ 40,952 📉▼217 (-0.5%)
OI Contracts: 86,862 (-8.3%)
The Bank Nifty quickly gave its opening gains and ended lower on Monday. Slides in PSU and private banks lead to the banking index underperforming the Nifty50.
Among banking stocks, Bandhan Bank (+0.9%) and Kotak Mahindra Bank (+0.1%) were the only two gainers, while IDFC First Bank (-1.7%) and IndusInd Bank (-1.1%) were the biggest laggards.
The Bank Nifty's options expiring on 13 April have significant positions at the 41,000 and 41,500 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 41,800. On the other hand, 40,400 and 41,200 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹882 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹351 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹1,849 crore and bought index options worth ₹2,295 crore. Further, they bought stock futures worth ₹779 crore and sold stock options worth ₹79 crore.
India VIX
The fear gauge India VIX rose 3.9% to 12.27.
Stock Action📊
Long build-up was seen in Tata Motors, Godrej Properties, Power Finance Corporation, Polycab and Oberoi Realty.
Short build-up was seen in Voltas, Gujarat Gas, Havells, Alkem Labs and Petronet LNG.
*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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