Asian Markets Update 7 am
Indian equities may start the day negative, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 25 (-0.1%) points higher. Its Asian peers are trading lower. The Nikkei 225 declined 1.1%, while Hong Kong's Hang Seng index fell 0.5%.
US market update
US markets ended mixed with pressure from consumer stocks after the latest round of quarterly results. Dow Jones advanced 0.2% while NASDAQ declined 0.4%.
Index Action
NIFTY50
August Futures @ 19,810 📉▼33 (-0.1%)
OI Contracts: 2,15,819 (-1.6%)
The Nifty50 gave up its opening gains and formed a bearish candle on the daily charts. Amid ongoing foreign investors' outflows and healthy economic data, the index ended with indecisive yet marginal cuts. The index has consolidated within a 350 points range for the last eight sessions.
Among the major companies, AB Capital, Godrej Properties, HPCL and Titan will announce their earnings today.
The Nifty50 options expiring on 3 August have significant positions at 19,800 and 19,900 calls and 19,600 and 19,700 puts.
According to options data and OI analysis, the Nifty50 range for the 31st August expiry is between 19,200 and 20,200. On the other hand, 19,600 and 19,900 are this week's immediate support and resistance levels.
BANK NIFTY
August Futures @ 45,746 📉▼114 (-0.2%)
OI Contracts: 1,31,402 (+1.0%)
The Bank Nifty slipped from a higher level of 45,800 and ended lower on Tuesday. Despite the dip, the banking index held above Monday'sMonday's low and its 20 DMA. Pressure in PSU banks dragged the index lower, while gains in pvt banks provided support.
IDFC First Bank (+1.4%) and Bandhan Bank (+1.9%) were the top gainers among banking index stocks. IndusInd Bank (-1.6%) and SBI (-1.3%) were the top laggards.
The Bank Nifty's options expiring on 3 August have significant positions at the 46,000 and 45,700 calls and 45,500 and 45,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 31st August expiry is between 44,400 and 46,800. On the other hand, 45,200 and 45,900 are the immediate support and resistance levels for this week.
FII and DII Data**💰
In the cash market, the Foreign Institutional Investors (FIIs) sold shares worth ₹92 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹1,035 crore. In the derivatives market, FIIs sold index futures worth ₹44 crore and bought index options worth ₹5,122 crore. Further, they sold stock futures worth ₹858 crore and sold stock options worth ₹83 crore.
India VIX
The volatility index declined 1.2% and settled at 10.28.
Stock Action📊
The long build-up was seen in Hindustan Copper, Astral, Escorts Kubota, Coal India and Chambal Fertilisers.
The short build-up was seen in Hero MotoCorp, Indigo, DLF, Power Grid and Maruti Suzuki.
Under F&O Ban: Hindustan Copper, Indiabulls Housing Finance and Piramal Enterprises.
*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.