Asian Markets Update @ 7 am
The SGX Nifty is trading lower by 32 (-0.1%) points from its last close, indicating a flat to negative start for the Nifty50 today. Major Asian markets are also trading lower. Japan's Nikkei 225 is trading flat (-0.05%), while Hong Kong's Hang Seng Index is closed for the Chinese New Year holiday.
Global Markets Update
Ahead of the release of GDP data, US stocks closed on a mixed note on Tuesday. The Dow Jones gained 0.3%, while the S&P 500 ended flat with a negative bias, down by 0.07%. The tech-heavy Nasdaq Composite lost 0.2%.
Index Action
Nifty50
January Futures: 18,118 📉▼29 (0.1%)
OI Contracts: 1,35,723 (-23.1%)
Ahead of the monthly expiry of F&O contracts, the Nifty50 index opened higher but pared its gains during the day to close flat. The index failed to cross the 18,200 mark and faced selling pressure at higher levels.
Among major sectoral indices, Auto (+1.2%) and IT (+0.7%) advanced the most, while PSU Bank (-1.3%) and Realty (-1.0%) witnessed selling pressure.
Nifty50’s options contracts expiring today have sizable positions at 18,100 and 18,200 call options and 18,100 and 18,000 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,300 and 18,600 levels. On the other hand, 18,000 and 18,250 are the critical levels to watch for today's expiry.
Bank Nifty
January Futures: 42,745 📉▼ 116 (0.2%)
OI Contracts: 35,110 (-31.2%)
After Monday's rally, the Bank Nifty opened higher and crossed 43,000 mark but soon came under selling pressure. The PSU Bank Index and Private Bank Index both closed in the red, dragging the Bank Nifty Index 0.2% lower.
Among banking stocks, HDFC Bank (+1.3%) and IndusInd Bank (+0.6%) were the top gainers, while Axis Bank (-2.4%) and Punjab National Bank (-2.2%) were the top losers.
Bank Nifty’s options contracts expiring today have sizable positions at 43,000 and 42,800 call options and 42,000 and 42,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,500 and 44,000 levels. On the other hand, 42,500 and 43,100 are the critical levels to watch for today's expiry.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹760 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹1,144 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹475 crore and bought index options worth ₹10,651 crore. Further, they bought stock futures worth ₹1,277 crore and bought stock options worth ₹4 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, rose 0.2% to 13.66.
Stock Action📊
Long build-up was seen in HCL Tech, Maruti Suzuki, Polycab, Oracle Financial Services and ITC.
Short build-up was seen in CONCOR, SBI Cards, HDFC AMC, RBL Bank and Navin Fluorine.
*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.