Asian Markets Update @ 7 am
The SGX Nifty is trading 21 points (-0.1%) lower compared to its last close, indicating a flat to negative start for the Nifty50 today. Major Asian markets are trading in the red. Japan's Nikkei 225 fell 0.4%, while Hong Kong's Hang Seng declined 0.4%.
Global Market Update
US stocks ended flat to negative, weighed down by mixed quarterly results and pressure in big tech stocks. The Dow Jones declined 0.03% to close at 33,976. The S&P 500 rose 0.09% to 4,154, while the Nasdaq Composite lost 0.04% to close at 12,153.
Index Action
Nifty50
April Futures @ 17,709 📉▼51 (-0.2%)
OI Contracts: 1,82,627 (-2.1%)
With mixed global cues and a mixed set of numbers by heavyweights, the Nifty50 gave up its opening gains and settled in the red. With bears starting to gain the upper hand, 200-DMA close to 17,600 will be a crucial level for the index to hold on to.
Sectorally, Pharma (+1.6%) and Realty (+1.0%) were the top gainers, whereas FMCG (-0.3%) and Financial Services (-0.3%) were the biggest laggards.
The Nifty50 options expiring on 20 April have significant positions at 17,700 and 17,800 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 17,300 and 18,000. On the other hand, 17,450 and 17,850 is the short-term range for this week.
Bank Nifty
April Futures @ 42,320 📉▼23 (-0.06%)
OI Contracts: 89,881 (-1.0%)
The Bank Nifty ended flat with a positive bias amid weakness in the Nifty50. Both the PSU bank and private bank index ended in the green. For the banking index, the 100-DMA close to 41,700 is a key support zone for traders.
Among banking stocks, Bandhan Bank (+3.1%) and IDFC First Bank (+2.4%) were the biggest gainers, while ICICI Bank (-0.4%) and HDFC Bank (-0.4%) were the only laggards.
The Bank Nifty's options expiring on 20 April have significant positions at the 42,500 and 43,000 calls and 42,000 and 41,500 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th April expiry is between 41,600 and 43,000. On the other hand, 41,900 and 42,700 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹810 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹401 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹71 crore and bought index options worth ₹4,742 crore. Further, they sold stock futures worth ₹187 crore and bought stock options worth ₹233 crore.
India VIX
The fear gauge India VIX fell 1.5% to 12.08.
Stock Action📊
Long build-up was seen in ICICI Lombard, Crompton Greaves, Coforge, Nestle and Apollo Tyres.
Short build-up was seen in Tata Chemicals, Tata Communications, Havells, Cummins and Siemens.
Under F&O Ban: Balrampur Chini and Delta Corp.
*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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