Asian Markets Update @ 7 am
The SGX Nifty is trading 63 (+0.6%) points higher than its last close, indicating a positive start for the Nifty50 today. Major Asian markets are trading in the green. Japan's Nikkei 225 rose 1.2%, while Hong Kong's Hang Seng Index gained 0.1%.
Global Market Update
US stocks ended higher on Friday, with gains accelerating towards the close as Treasury yields retreated from key levels. The Dow Jones gained 1.1%. The S&P 500 rose 1.6% and the tech-heavy Nasdaq jumped 1.9%.
Index Action
Nifty50
March Futures @ 17,661 📈▲262 (+1.5%)
OI Contracts: 2,16,846 (-8.3%)
The Nifty50 extended its opening gains on Friday, registering its biggest single-day gain since November 2022. Led by gains in Adani Group shares and financials, the index surged to 17,600 mark and closed over 1.5% higher.
All major sectoral indices ended in the green, with PSU Bank (+5.4) and Metal (+3.5%) advancing the most.
The Nifty50 options expiring on 9 March have significant positions at 18,000 and 17,900 calls and 17,500 and 17,400 puts.
According to options data and OI analysis, the Nifty50's long range for the 29 March expiry is between 17,000 and 18,000. On the other hand, 17,300 and 17,800 is the short-term range for the current week.
Bank Nifty
March Futures @ 41,423 📈▲795 (+1.9%)
OI Contracts: 96,251 (+2.1%)
The Bank Nifty opened on a positive note and gained momentum through the day as it zoomed past 41,000 level. Led by PSU banks, it settled the day near 41,250 with gains of over 2%.
All eleven of the twelve banking stocks closed higher except for Bandhan Bank (-0.3%). SBI (+5.1%) and Bank of Baroda (+5.0%) were the top gainers.
The Bank Nifty's options expiring on 9 March have significant positions at the 42,000 and 41,500 calls and 41,000 and 40,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 29th March expiry is between 40,000 and 42,500. On the other hand, 40,600 and 41,900 is the short-term range for the current week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) bought shares worth ₹246 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹2,089 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹3,938 crore and sold index options worth ₹5,501 crore. Further, they bought stock futures worth ₹2,475 crore and sold stock options worth ₹169 crore.
India VIX
The fear gauge India VIX fell 6.0% to 12.18.
Stock Action📊
Long build-up was seen in Tata Steel, Power Finance Corporation, Apollo Tyres, Navin Fluorine and Aditya Birla Capital.
Short build-up was seen in Bharat Forge, ICICI Lombard, Shree Cement, Bosch and Torrent Power.
*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.