Asian Markets Update @ 7 am
The SGX Nifty is trading higher by 47 (+0.2%) points from its previous close, suggesting a positive start for the Nifty50 today. Major Asian markets are trading mixed. Nikkei 225 in Japan gained 0.6%, while Hong Kong's Hang Seng index declined 0.1%.
Global Markets Update
US stocks closed mixed on Tuesday as investors digested corporate earnings. Goldman Sachs fell more than 6% after its fourth-quarter net profit plunged 69%.
The Dow Jones lost 1.1%, to close at 33,910. The S&P 500 fell 0.2% to 3,990, while the Nasdaq Composite gained 0.1% to end the day at 11,095.
Index Action
Nifty50
January Futures: 18,092📈▲150 (+0.8%)
The Nifty50 index erased the previous day's losses to end the volatile session on a strong note. The 50-share index also crossed the 18,000-mark to close above the psychologically important level after five sessions.
Among the sectoral indices, FMCG and Realty advanced more than 1%. PSU Bank (-1.8%) and Media (-0.8%) were the worst hit.
Nifty50’s options contracts expiring on 19 January have sizable positions at 18,100 and 18,200 call options 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, 17,900 and 18,300 are the critical levels to watch for the current week.
Bank Nifty
January Futures: 42,380 📈▲78 (+0.1%)
The Bank Nifty Index continued to be subdued and underperformed in comparison to the broader indices. Highlighting the indecisiveness among traders, the index formed a doji candle on the daily chart. However, the index reversed its losses in the second half of the session and closed flat with a positive bias.
Among banking stocks, HDFC Bank (+1.4%) and Kotak Mahindra Bank (+0.7%) were the top gainers, while IDFC First Bank (-2.2%) and Bank of Baroda (-2.1%) were the top losers.
Bank Nifty’s options contracts expiring on 19 January have sizable positions at 42,500 and 43,000 call options and 42,000 and 41,000 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) bought shares worth ₹211 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹90 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹1,488 crore and bought index options worth ₹494 crore. Further, they bought stock futures worth ₹848 crore and bought stock options worth ₹183 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, fell 2.8% to 14.59.
Stock Action📊
Long build-up was seen in Larsen & Toubro, Cummins India, Astral, Hindalco and NTPC.
Short build-up was seen in Delta Corp, Indus Towers, City Union Bank, Indiamart Intermesh and SBI.
Under F&O Ban: Delta Corp, GNFC, Indiabulls Housing Finance, L&T Finance and Manappuram 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.
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