Asian Markets Update @ 7 am
The SGX Nifty is trading 21 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 in the green. Japan's Nikkei 225 rose 0.1%, while Hong Kong's Hang Seng advanced 0.3%.
Global Market Update
US stocks ended mixed after investors weighed another set of quarterly results led by a mixed set of numbers by the streaming giant Netflix heated up the earnings season. The Dow Jones declined 0.2% to close at 33,897. The S&P 500 dipped just 0.01% to 4,154, while the Nasdaq Composite gained 0.03% to close at 12,157.
Index Action
Nifty50
April Futures @ 17,645 📉▼67 (-0.3%)
OI Contracts: 1,85,041 (+1.3%)
The Nifty settled lower for the third consecutive session following persistent weakness in IT stocks. The index opened flat and traded in a tight range before slipping lower in the second half. The index once again took support at its 200-DMA moving average.
Going forward, the focus will be on the earnings report from HCL Tech, which is due today. Traders will also be watching for results from Reliance Industries and ICICI Bank, both due in the coming days.
Sectorally, Metal (+0.5%) and Oil & Gas (+0.2%) were the top gainers, whereas IT (-1.7%) and PSU Bank (-0.8%) 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 17,900. On the other hand, 17,500 and 17,700 is the short-term range for this week.
Bank Nifty
April Futures @ 42,179 📉▼156 (-0.3%)
OI Contracts: 92,369 (+2.7%)
The Bank Nifty opened higher but slipped in the red, following pressure in both. PSU bank and private banking stocks. With 8 out of the 12 banking stocks ending in red, the index settled a quarter of a per cent lower.
Among banking stocks, Axis Bank (+1.1%) and Bandhan Bank (+0.4%) were the biggest gainers, while IndusInd Bank (-2.3%) and AU Small Finance Bank (-2.0%) were the only laggards.
The Bank Nifty's options expiring on 20 April have significant positions at the 42,500 and 42,300 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 41,500 and 43,000. On the other hand, 41,800 and 42,600 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹13 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹110 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹292 crore and sold index options worth ₹1,101 crore. Further, they sold stock futures worth ₹867 crore and bought stock options worth ₹249 crore.
India VIX
The fear gauge India VIX rose 0.5% to 12.15.
Stock Action📊
Long build-up was seen in Divi’s Labs, Dixon Technologies, Bharat Petroleum, JK Cement and NMDC,
Short build-up was seen in Tata Communications, Atul Ltd, ICICI Lombard, Birlasoft and NTPC.
*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.