Asian Markets Update @ 7 am
The SGX Nifty is trading 9 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 mixed. Japan's Nikkei 225 rose 0.5%, while Hong Kong's Hang Seng declined 0.1%.
Global Market Update
US stocks ended mixed as cyclical and financial stocks advanced while the tech stocks remained under pressure ahead of the fresh inflation data later today. The Dow Jones rose 0.2% to close at 33,684. The S&P 500 ended flat at 4,108, while the Nasdaq Composite declined 0.4% to close at 12,031.
Index Action
Nifty50
April Futures @ 17,787 📈▲105 (+0.6%)
OI Contracts: 1,86,545 (-4.9%)
The Nifty50 ended a volatile day in green, making it the seventh straight session of gains ahead of the earnings season kickoff, with TCS all set to announce its results today. The index slipped during the day but rebounded strongly, led by gains in financials and settled above the 17,700 mark.
Sectorally, Metal (+1.7%) and PSU Bank (+1.6%) were the top gainers, whereas IT (-1.2%) and Realty (-0.2%) were the biggest laggards.
The Nifty50 options expiring on 13 April have significant positions at 17,700 and 18,000 calls and 17,700 and 17,600 puts.
According to options data and OI analysis, the Nifty50's long range for the 27th April expiry is between 17,300 and 18,100. On the other hand, 17,500 and 17,800 is the short-term range for this week.
Bank Nifty
April Futures @ 41,500 📈▲521 (+1.2%)
OI Contracts: 86,205 (-0.7%)
The Bank Nifty continued its upward march rising steadily and ending close to the day's high point. 10 out of the 12 banking index stocks ended in the green, pushing the index higher. The following key level to watch for will be the 100-DMA which stands close to the 41,700 level.
Among banking stocks, Kotak Mahindra Bank (+4.9%) and Bank of Baroda (+2.8%) were the biggest gainers, while IDFC First Bank (-0.7%) and IndusInd Bank (-0.05%) were the biggest laggards.
The Bank Nifty's options expiring on 13 April have significant positions at the 41,500 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 40,500 and 42,300. On the other hand, 40,900 and 41,800 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹342 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹264 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹2,193 crore and sold index options worth ₹15,596 crore. Further, they bought stock futures worth ₹1,103 crore and sold stock options worth ₹158 crore.
India VIX
The fear gauge India VIX fell 2.3% to 11.98.
Stock Action📊
Long build-up was seen in Bajaj Auto, Navin Fluorine, TVS Motor, CONCOR and SRF.
Short build-up was seen in Delta Corp, United Breweries, Berger Paints, Bata India and Voltas.
*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.