Asian Markets Update 7 am
Indian equities may start the day positive, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 39 (+0.2%) points higher. Its Asian peers are trading higher. The Nikkei 225 advanced 0.1%, while Hong Kong's Hang Seng index gained 0.9%.
US market update
US markets ended mixed after the Fed announced a 25 basis point rate, in line with market expectations. Dow Jones rose for the thirteenth straight day and settled 0.2% higher, while NASDAQ declined 0.1%.
Index Action
NIFTY50
July Futures @ 19,893 📈▲77 (+0.3%)
OI Contracts: 1,65,442 (+30.6%)
Ahead of today's expiry, the Nifty50 rose half a per cent and settled near 19,800. The index formed a shooting star-like candle, suggesting a strong tussle by the bears. Most sectoral indices, however, ended higher, with PSU Bank and FMCG being among the leaders.
Among major companies, Bajaj Finserv, Birlasoft and Nestle India will announce their earnings today.
The Nifty50 options expiring on 27 July have significant positions at 20,000 and 19,800 calls and 19,700 and 19,600 puts.
According to options data and OI analysis, the Nifty50's range for the 31st August expiry is between 19,100 and 20,400 levels. On the other hand, 19,600 and 19,900 are the immediate support and resistance levels for this week.
BANK NIFTY
July Futures @ 46,245 📈▲148 (+0.3%)
OI Contracts: 1,02,631 (+35.8%)
The Bank Nifty rose steadily through the day and closed above 46,000. The banking index made an inside candle is yet to cross above the previous day's high level of 46,150. The index's breadth was strong, with 11 out of the 12 stocks ending in green.
Punjab National Bank (+4.0%) and IDFC First Bank (+1.9%) were the top gainers among banking index stocks. HDFC Bank (-0.3%) was the top laggard.
The Bank Nifty's options expiring on 27 July have significant positions at the 46,000 and 46,200 calls and 46,000 and 45,900 puts.
According to options data and OI analysis, Bank Nifty's range for the 31st August expiry is between 44,600 and 47,200. On the other hand, 45,600 and 46,400 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 ₹922 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹470 crore. In the derivatives market, FIIs bought index futures worth ₹381 crore and sold index options worth ₹12,831 crore. Further, they bought stock futures worth ₹2,709 crore and bought stock options worth ₹174 crore.
India VIX
The volatility index rose 2.1% and settled at 10.46.
Stock Action📊
The long build-up was seen in Vodafone Idea, Tata Communications, Escorts Kubota, Manappuram Finance and Godrej Properties.
The short build-up was seen in Can Fin Homes, Syngene International, Indigo, Bajaj Finance and Marico.
Under F&O Ban: Delta Corp, RBL Bank and Sun TV.
*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.