Asian Markets Update @ 7 am
The SGX Nifty was trading higher by 28 (+0.1%) points from its previous close, suggesting a flat to a positive start for the Nifty50 today. Major Asian markets are trading mixed. Nikkei 225 in Japan gained 1.3%, while Hong Kong's Hang Seng index declined 0.1%.
Global Markets Update
US markets were closed on Monday on account of Martin Luther King Jr. Day.
Index Action
Nifty50
January Futures: 17,941 📉▼83 (-0.4%)
After opening higher, the Nifty50 index surrendered its gains and closed the volatile session lower. Except for PSU Bank (+1.5%), IT (+1.1%) and FMCG (+0.1%), all the other sectoral indices ended in the red. Media (-1.3%) and Metal (-1.3%) declined the most.
Nifty50’s options contracts expiring on 19 January have sizable positions at 18,000 and 17,900 call options 18,000 and 17,900 and 17,800 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,300 and 18,600 levels. On the other hand, 17,700 and 18,100 are the critical levels to watch for the current week.
Bank Nifty
January Futures: 42,290 📉▼210 (-0.4%)
After a gap-up start, the Bank Nifty index faced resistance around the 42,700 mark and closed the day in red. However, with nine out of its twelve stocks closing higher, the index's breadth favoured advances.
Among banking stocks, Punjab National Bank (+3.7%) and Federal Bank (+1.3%) advanced the most. Private heavyweights HDFC Bank (-0.9%) and ICICI Bank (-0.9%) witnessed selling pressure.
Bank Nifty’s options contracts expiring on 19 January have sizable positions at 42,500 and 43,000 call options and 42,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,000 and 43,300 levels. On the other hand, 41,800 and 42,700 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹750 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹685 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹1,165 crore and sold index options worth ₹2,632 crore. Further, they sold stock futures worth ₹773 crore and bought stock options worth ₹34 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, rose 3.8% to 15.02.
Stock Action📊
Long build-up was seen in L&T Finance, Federal Bank, Punjab National Bank, Hero MotoCorp and Delta Corp.
Short build-up was seen in SBI Cards, Dixon Technologies, Axis Bank, Adani Enterprises and Indus Towers.
Under F&O Ban: GNFC, Indiabulls Housing Finance and L&T Finance.
*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.