Asian Markets Update @ 7 am
The SGX Nifty is trading 32 (+0.2%) points higher than its last close, indicating a flat to positive start for the Nifty50 today. Major Asian markets are trading in the green. Japan's Nikkei 225 is flat, up 0.03%, while Hong Kong's Hang Seng Index climbed 0.3%.
Global Markets Update
US equities closed mixed on Friday, ending a choppy week lower amid concerns about the Fed's next rate hike path to combat stubborn inflation.
The Dow Jones rose 0.3%, while S&P 500 slipped 0.2%. The technology-heavy Nasdaq Composite lost 0.5%.
Index Action
Nifty50
February Futures: 17,954 📉▼108 (-0.6%)
OI Contracts: 1,83,027 (-0.6%)
The Nifty50 ended its three-day winning streak on Friday and ended lower by 0.6%. Amid selling by both, foreign portfolio investors and domestic investors, the index faced resistance at its 50-EMA and fell below the crucial 18,000-mark.
Among the major sectoral indices, Infra (+0.4%) and Oil & Gas (+0.1%) were the top gainers, while Realty (-1.7%) and PSU Bank (-1.5%) were the top losers.
The Nifty 50 options contracts expiring on 23 February have significant positions at the 18,000 and 18,200 calls and the 18,000 and 17,500 puts.
As per options data and OI analysis, the Nifty50’s broad range for the February expiry is between 17,500 and 18,400. On the other hand, 17,700 and 18,100 is the short-term range for the current week.
Bank Nifty
February Futures: 41,205 📉▼530 (-1.2%)
OI Contracts: 1,01,232 (+8.4%)
The Bank Nifty opened lower and slipped below the 41,000 mark and remained in pressure throughout the day. With a late recovery it settled above this psychologically important level, but still ended the day in red; down nearly 500 points.
All the 12 stocks of the banking index ended lower with Bandhan Bank (-2.9%) and IndusInd Bank (-2.9%) being the biggest laggards.
The Bank Nifty’s options contracts expiring on 23 February have significant positions at the 42,000 and 41,500 calls and 41,000 and 40,000 puts.
As per options data and OI analysis, the Bank Nifty’s broad range for the February expiry is between 40,100 and 42,200 levels. On the other hand, 40,400 and 41,700 is the short-term range for the current week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹624 crore, while Domestic Institutional Investors (DIIs) also offloaded shares worth ₹85 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹1,079 crore and bought index options worth ₹792 crore. Further, they sold stock futures worth ₹1,237 crore and bought stock options worth ₹230 crore.
India VIX
The India VIX rose 1.5% and settled higher at 13.09.
Stock Action📊
Long build-up was seen in Shree Cement, Ramco Cements, Larsen & Toubro, Dalmia Bharat and Godrej Consumer Products.
Short build-up was seen in AU Small Finance Bank, L&T Technology Services, Biocon, LIC Housing Finance and Federal Bank.
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.