Asian Markets Update 7 am
Indian equities may start the day negative, as the SGX Nifty indicates. The futures contract on the Singapore Exchange is trading 39 (-0.2%) points lower. Its Asian peers are trading in the red. The Nikkei 225 declined 0.01%, while Hong Kong's Hang Seng index fell 0.7%.
US market update
US markets were shut on account of a public holiday.
Index Action
Nifty50
June Futures @ 18,840 📉▼58 (-0.3%)
OI Contracts: 1,99,125 (-2.2%)
With negative global cues weighing in, the Nifty50 came close to the record lifetime high level but could not cross it. The index's breadth was negative, with 36 out of the 50 stocks ending red. With a jump in Vix, selling across major sectors like Private Banks, Auto, and FMCG contributed to the index slipping more than a quarter of a per cent.
The Nifty50 options expiring on 22 June have significant positions at 18,800 and 19,000 calls and 18,700 and 18,800 puts.
According to options data and OI analysis, the Nifty50's range for the 29th June expiry is between 18,400 and 19,100 levels. On the other hand, 18,600 and 18,900 are the immediate support and resistance levels for this week.
Bank Nifty
June Futures @ 43,801 📉▼241 (-0.5%)
OI Contracts: 91,223 (-1.4%)
Bank Nifty gave up its opening gains and slipped sharply from the 44,000 level. The banking index faced resistance near its 20 DMA and could sustain above it. The fall accelerated through the day, and the index settled nearly two-thirds of a per cent lower.
Bank of Baroda (+3.0%) and Punjab National Bank (+0.7%) were the top gainers among banking stocks. Kotak Mahindra Bank (-1.7%) and Bandhan Bank (-1.6%) were the top laggards.
The Bank Nifty's options expiring on 22 June have significant positions at the 44,000 and 44,500 calls and 43,500 and 43,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 29th June expiry is between 43,000 and 44,400. On the other hand, 43,200 and 44,300 are this week's immediate support and resistance levels.
FII and DII Data💰
In the cash market, the Foreign Institutional Investors (FIIs) sold shares worth ₹1,030 crore, while the Domestic Institutional Investors (DIIs) sold shares worth ₹365 crore. In the derivatives market, FIIs sold index futures worth ₹1,324 crore and bought index options worth ₹4,100 crore. Further, they sold stock futures worth ₹1,882 crore and sold stock options worth ₹350 crore.
India VIX
The volatility index advanced 3.6% to 11.23.
Stock Action📊
The long build-up was seen in Shriram Finance, Hindustan Aeronautics, Metropolis, ICICI Prudential, and HDFC Life.
The short build-up was seen in HDFC AMC, Adani Enterprises, NMDC, Gujarat Gas and IDFC.
Under F&O Ban: Delta Corp, Hindustan Aeronautics, Indiabulls Housing Finance, India Cements, L&T Finance, Manappuram, Tata Chemicals and Zee Entertainment.
*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.