Asian Markets Update @ 7 am
The SGX Nifty is trading lower by 38 (-0.2%) points from its previous close, indicating a negative start for the Nifty50 today. Major Asian markets are trading in the red. Japan's Nikkei 225 fell 1.4%, while Hong Kong's Hang Seng index dropped 1.7%.
Global Markets Update
US stocks ended mixed on Friday, as consumer sentiment data released on Friday suggested cautious optimism about the economy, while Treasury yields pointed to a possible recession.
The Dow Jones rose 0.5%, while S&P 500 climbed 0.2%. The technology-heavy Nasdaq Composite slipped 0.6%.
Index Action
Nifty50
February Futures: 17,870 📉▼75 (-0.4%)
OI Contracts: 2,05,550 (+3.6%)
The Nifty50 consolidated near the 20-EMA and fell 75 points (0.4%) on Friday. It ended a range bound day lower and formed a Doji candle on the weekly charts. This week, the market will be awaiting key inflation data from the US and India. Retail inflation data for both will be announced on Tuesday.
Among major sectoral indices, Realty (+1.3%) and PSU Bank (+0.4%) were the top gainers, while Metal (-1.8%) and Oil & Gas (-0.5%) were the top losers.
The Nifty50 options contracts expiring on 16 February have significant positions at 18,000 and 17,800 calls and 17,800 and 17,700 puts.
As per options data and OI analysis, the broad range for the Nifty50’s February expiry is between 17,500 and 18,300 levels. On the other hand, 17,650 and 18,100 is the short-term range for the current week.
Bank Nifty
February Futures: 41,645 📉▼71 (-0.1%)
OI Contracts: 90,387 (-7.2%)
The Bank Nifty traded in the range of nearly 250 points on Friday and ended flat with a positive bias. Among banking stocks, AU Small Finance Bank (+1.4%) and Federal Bank (+1.1%) were the top gainers, while ICICI Bank (-0.8%) and IDFC First Bank (-1.1%) were the biggest laggards.
The Bank Nifty’s options contracts expiring on 16 February have significant positions at 41,500 and 42,000 calls and 41,500 and 41,000 puts.
As per options data and OI analysis, the broad range for the Bank Nifty February expiry is between 40,500 and 42,700 levels. On the other hand, 41,200 and 42,000 is the short-term range for the current week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹1,458 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹291 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹920 crore and sold index options worth ₹2,534 crore. Further, they sold stock futures worth ₹586 crore and sold stock options worth ₹138 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, fell 2.2% to 12.75.
Stock Action📊
Long build-up was seen in Alkem Labs, Voltas, ABB, Delta Corp and TVS Motor.
Short build-up was seen in Abbott India, UBL, Astral, Lupin and Havells India.
Under F&O Ban: Ambuja Cements and Indiabulls Housing Finance.
*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.