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 40 (+0.2%) points higher. Its Asian peers are trading higher. The Nikkei 225 advanced 0.01%, while Hong Kong's Hang Seng index rose 2.2%.
US market update
US markets ended lower after rising Treasury yields to multi-month high levels weighed on investor sentiment. Dow Jones declined 0.1%, while NASDAQ fell 0.1%.
Index Action
NIFTY50
August Futures @ 19,472 📉▼124 (-0.6%)
OI Contracts: 2,19,931 (+5.3%)
The Nifty50 slumped and settled lower for the third consecutive day. The index recovered from a lower level of 19,300 but ended the day with nearly three-quarters of a per cent cuts. After closing below the 20 DMA on Wednesday for the first time since April, the index continued to face pressure and remained below its 20 DMA.
Among the major companies, ABFRL, BHEL, IDFC, M&M, and SBI will announce their earnings today.
The Nifty50 options expiring on 10 August have significant positions at 19,500 and 19,400 calls and 19,400 and 19,200 puts.
According to options data and OI analysis, the Nifty50 range for the 31st August expiry is between 18,800 and 19,900. On the other hand, 19,100 and 19,650 are this week's immediate support and resistance levels.
BANK NIFTY
August Futures @ 44,688 📉▼435 (-0.9%)
OI Contracts: 1,19,419 (-6.3%)
The Bank Nifty fell by over a per cent and settled just above 44,500 level. The banking index recovered from the low point of the day, but with a negative breadth of 10 declines versus 2 advances, the index remained under pressure.
Among banking index stocks, AU Small Finance Bank (+0.3%) and Bandhan Bank (+0.5%) were the top gainers. ICICI Bank (-2.2%) and SBI (-1.3%) were the top laggards.
The Bank Nifty's options expiring on 10 August have significant positions at the 45,000 and 45,500 calls and 44,500 and 44,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 31st August expiry is between 43,300 and 46,200. On the other hand, 43,900 and 45,100 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 ₹317 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹1,729 crore. In the derivatives market, FIIs sold index futures worth ₹3,441 crore and bought index options worth ₹19,586 crore. Further, they sold stock futures worth ₹4,624 crore and bought stock options worth ₹216 crore.
India VIX
The volatility index fell 0.8% and settled at 11.18.
Stock Action📊
The long build-up was seen in MRF, Adani Enterprises, Laurus Labs, IRCTC and Adani Ports.
The short build-up was seen in Vedanta, Godrej Properties, L&T Finance, Berger Paints and Bajaj Finserv.
Under F&O Ban:GNFC, Hindustan Copper and Piramal Enterprises.
*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.