Asian Markets Update 7 am
Indian equities may start the day positive, as the GIFT Nifty indicates. The futures contract on the Singapore Exchange is trading 16 (+0.08%) points lower. Its Asian peers are trading in the green. The Nikkei 225 advanced 1.5%, while Hong Kong's Hang Seng index gained 1.7%.
US market update
US markets ended higher on Friday and will remain shut because of a public holiday for the next two days. Dow Jones gained 0.8%, whereas the NASDAQ advanced 1.4%.
Index Action
Nifty50
July Futures @ 19,270 📈▲198 (+1.0%)
OI Contracts: 2,00,157 (+9.6%)
The Nifty50 surged over 200 points and posted its biggest-single day in two months. The breadth of the market was strong, and most sectoral indices closed in green, barring Metal. The focus will now shift to the upcoming earnings season.
The Nifty50 options expiring on 6 July have significant positions at 19,500 and 19,200 calls and 19,000 and 19,100 puts.
According to options data and OI analysis, the Nifty50 range for the 27th July expiry is between 18,800 and 19,600. On the other hand, 19,000 and 19,400 are this week's immediate support and resistance levels.
Bank Nifty
July Futures @ 44,855 📈▲407 (+0.9%)
OI Contracts: 1,69,301 (+13.9%)
Bank Nifty surged higher on Friday and ended close to the day's high point. A rebound in PSU Banks coupled with an ongoing surge in the private banks helped the index close with gains of nearly 1%.
Bandhan Bank (+3.6%) and Federal Bank (+1.4%) were the top gainers among banking stocks. ICICI Bank (-0.3%) and IDFC First Bank (-0.3%) were the biggest laggards.
The Bank Nifty's options expiring on 6 July have significant positions at the 45,000 and 44,800 calls and 44,500 and 44,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th July expiry is between 43,500 and 45,800. On the other hand, 44,200 and 45,200 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 ₹6,397 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹1,197 crore. In the derivatives market, FIIs bought index futures worth ₹1,539 crore and sold index options worth ₹3,571 crore. Further, they bought stock futures worth ₹1,037 crore and sold stock options worth ₹246 crore.
India VIX
The volatility index declined 0.8% to 10.80.
Stock Action📊
The long build-up was seen in Escorts Kubota, Bandhan Bank, HDFC AMC, Biocon and RBL Bank.
The short build-up was seen in MCX, Granules, Gujarat Gas, Havells and Ambuja Cements.
Under F&O Ban: Indiabulls Housing Finance.
*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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