Asian Markets Update 7 am
Indian equities may start the day flat to positive, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 7 (+0.04%) points higher. Its Asian peers are trading mixed. The Nikkei 225 declined 0.6%, while Hong Kong's Hang Seng index gained 1.3%.
US market update
US markets ended higher as banking earnings and easing inflation overseas helped the recent rally. Dow Jones gained 0.3%, while NASDAQ rose 0.03%.
Index Action
NIFTY50
July Futures @ 19,870 📈▲99 (+0.5%)
OI Contracts: 2,18,093 (+3.8%)
The Nifty50 continued its record-breaking run and settled nearly half a per cent higher. Strong global cues, a largely in-line set of results, and ongoing foreign investor inflows pushed the index higher. The index formed the higher high, higher low candle for the fifth straight day, hitting a new all-time high of 19,851.
Among major companies, Coforge, Hindustan Unilever, Infosys and Persistent Systems will announce their earnings today.
The Nifty50 options expiring on 20 July have significant positions at 20,000 and 19,900 calls and 19,800 and 19,700 puts.
According to options data and OI analysis, the Nifty50 range for the 27th July expiry is between 19,500 and 20,200. On the other hand, 19,700 and 19,950 are this week's immediate support and resistance levels.
BANK NIFTY
July Futures @ 45,738 📈▲254 (+0.5%)
OI Contracts: 1,45,900 (+5.4%)
The Bank Nifty settled near the day's high point with gains of over half a per cent. The banking index recovered from 45,400 level but was not able to cross the previous day's high. Gains in PSU Banks led the recovery for the index while pvt banks held their ground.
Punjab National Bank (+4.1%) and IndusInd Bank (+2.1%) were the top gainers among banking index stocks. The top laggards were ICICI Bank (-0.2%) and AU Small Finance Bank (-0.07%).
The Bank Nifty's options expiring on 20 July have significant positions at the 46,000 and 45,800 calls and 45,500 and 45,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th July expiry is between 44,800 and 46,400. On the other hand, 45,200 and 46,000 are the immediate support and resistance levels for this week.
FII and DII Data**💰
In the cash market, Foreign Institutional Investors (FIIs) bought shares worth ₹1,165 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹2,134 crore. In the derivatives market, FIIs sold index futures worth ₹459 crore and bought index options worth ₹1,604 crore. Further, they bought stock futures worth ₹2,398 crore and sold stock options worth ₹104 crore.
India VIX
The volatility index fell 0.9% and settled at 11.60.
Stock Action📊
The long build-up was seen in Polycab, Can Fin Homes, MCX, Havells and ITC.
Short build-up was seen in ICICI Prudential, Bharat Forge, Coforge, Tata Power and Laurus Labs.
Under F&O Ban: Delta Corp, Indiabulls Housing Finance, L&T Finance, Manappuram, Polycab and RBL Bank.
*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.
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