Asian Markets Update @ 7 am
The SGX Nifty is trading higher by 57 (+0.4%) points from its previous close, indicating a positive start for the Nifty50 today. Major Asian markets are trading mixed. Japan's Nikkei 225 fell 0.7%, while Hong Kong's Hang Seng index rose 0.3%.
Global Markets Update
US stocks closed sharply higher on Tuesday after Fed Chairman Jerome Powell reiterated that the central bank may need to keep raising rates to keep inflation on a downward path.
The Dow Jones rose 0.7%, while S&P 500 jumped 1.2%. The technology-heavy Nasdaq Composite climber 1.9%.
Index Action
Nifty50
February Futures: 17,780📉▼25 (-(0.1%)
OI Contracts: 2,10,329 (+1.6%)
Amid negative cues from international indices, the Nifty50 closed in the red for the second consecutive day. With 31 of the 50 stocks closing lower, the index lost 0.2% but closed above 17,700.
Among the major sectoral indices, FMCG (-1.1%) and Auto (-1.0%) declined the most, while Realty (+0.8%) and Private Bank (+0.1%) were the top gainers.
The Nifty50 options contracts expiring on 9 February have significant positions at 18,000 and 18,500 calls and 17,500 and 17,700 puts.
As per options data and OI analysis, the broad range for the Nifty50’s February expiry is between 17,350 and 18,100 levels. On the other hand, 17,550 and 17,900 are the critical levels to watch for the current week.
Bank Nifty
February Futures: 41,640 📈▲133 (+0.3%)
OI Contracts: 95,117 (-4.1%)
Ahead of the RBI's rate decision, the Bank Nifty rallied to end the day 0.2% higher. Private banks outperformed their PSU counterparts as the banking index closed just below 41,500.
Among banking stocks, AU Small Bank (+2.6%) and Kotak Mahindra Bank (+1.6%) were the top gainers, while Federal Bank (-1.4%) and Bandhan Bank (-0.5%) were the biggest laggards.
The Bank Nifty’s options contracts expiring on 9 February have significant positions at 41,500 and 42,000 calls and 40,000 and 41,000 puts.
As per options data and OI analysis, the broad range for the Bank Nifty February expiry is between 40,200 and 42,800 levels. On the other hand, 40,900 and 42,100 are the critical levels to watch for the current week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹2,559 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹639 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹89 crore and bought index options worth ₹11,396 crore. Further, they sold stock futures worth ₹239 crore and sold stock options worth ₹938 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, fell 3.8% to 14.13.
Stock Action📊
Long build-up was seen in Navin Fluorine, Tata Chemicals, Zydus Lifesciences, AU Small Finance Bank and Samvardhana Motherson.
Short build-up was seen in Indigo, LIC Housing Finance, Escorts Kubota, Hindalco and Tata Steel.
Under F&O Ban: Ambuja Cement.
*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.