Asian Markets Update 7 am
Indian equities may start the day flat to positive, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 28 (+0.1%) points lower. Its Asian peers are trading higher. The Nikkei 225 advanced 0.5%, while Hong Kong's Hang Seng index gained 0.9%.
US market update
US markets started the week on a positive note ahead of key economic data later this week and Fed's monetary policy later this month. Dow Jones advanced 0.6% while NASDAQ gained 0.1%.
Index Action
Nifty50
July Futures @ 19,425 📈▲26 (+0.1%)
OI Contracts: 2,06,015 (-1.7%)
The Nifty50 ended marginally higher, led by gains in heavyweight Reliance Industries. The index gave up its opening gains and retraced from a higher level of 19,450. It continued to slip through the day but held above 19,300, leaving the gap area at 19,200 unfilled. The pressure on the markets was broad-based, with most sectors ending lower.
The Nifty50 options expiring on 13 July have significant positions at 19,400 and 19,500 calls and 19,400 and 19,300 puts.
According to options data and OI analysis, the Nifty50's range for the 27th July expiry is between 18,800 and 19,700 levels. On the other hand, 19,200 and 19,500 are this week's immediate support and resistance levels.
Bank Nifty
July Futures @ 44,960 📉▼69 (-0.1%)
OI Contracts: 1,78,771 (-2.7%)
Bank Nifty slipped from the 45,200 level and ended in the red. PSU banks came under pressure, while recovery in private banks provided support at a lower level. On its way down, the banking index filled the gap near the 44,700 level.
IndusInd Bank (+0.7%) and Kotak Mahindra Bank (+0.7%) were the top gainers among banking index stocks. Bank of Baroda (-2.6%) and Axis Bank (-1.3%) were the top laggards.
The Bank Nifty's options expiring on 13 July have significant positions at the 45,000 and 45,200 calls and 45,000 and 44,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th July expiry is between 44,000 and 46,000. On the other hand, 44,400 and 45,300 are this week's immediate support and resistance levels.
FII and DII Data💰
In the cash market, Foreign Institutional Investors (FIIs) bought shares worth ₹588 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹288 crore. In the derivatives market, FIIs bought index futures worth ₹320 crore and sold index options worth ₹26,326 crore. Further, they sold stock futures worth ₹1,025 crore and sold stock options worth ₹1.1 crore.
India VIX
The volatility index fell 0.6% and settled at 11.46.
Stock Action📊
The long build-up was seen in Escorts Kubota, Dr Lal Pathlabs, SAIL, ICICI Prudential and Apollo Tyres.
The short build-up was seen in Aarti Industries, Dalmia Bharat, Jubilant FoodWorks, Balkrishna Industries and IRCTC.
Under F&O Ban: BHEL, Delta Corp, Granules, Indiabulls Housing Finance, India Cements, Punjab National Bank and Zee Entertainment.
*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI)
long 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.