Stock market on September 23: Here are 5 things to know before opening bell

The Indian equity markets are set to open on a weak note as indicated by NIFTY futures traded at Gift City in Ahmedabad. NIFTY futures at Gift City fell 0.11% or 28 points to 25,260 signalling a soft start for the benchmark NIFTY50 index amid mixed cues from other Asian markets.

In Monday's session, SENSEX and NIFTY50 indices fell for the second straight session dragged down by IT shares after US President announced sharp hike in H-1B visa fees.

Asian market update

Asian markets were trading mixed South Korea's KOSPI rose 0.26% and Australia's S&P/ASX 200 advanced 0.07%. On the other hand, Hong Kong's Hang Seng fell 0.34%, the country was facing its worst Typhoon since 2018.

China's Shanghai Composite declined 0.2% and Japan's Nikkei was closed for a public holiday.

Wall Street update

Overnight, US stocks rallied to record high boosted by renewed optimism in big-tech shares.

The S&P500 rose 0.44% to hit all-closing high of 6,693.75, Nasdaq advanced 0.7% to record high of 22,789 and Dow Jones advanced 0.14%. The up move in US stocks came after chip giant Nvidia rose 4% after it said that it will invest up to $100 billion in OpenAI.

US equities have risen for three straight weeks, buoyed by the Federal Reserve’s first rate cut of the year..

FII/DII activity

Foreign institutional investors sold shares worth ₹2,910 crore on Monday while domestic bought shares worth ₹2,583 crore, data from the National Stock Exchange showed.

Foreign investors have so far this month sold shares worth ₹6,816 crore taking the total quantum of selling to ₹1,37,451 crore so far this year, according to data from National Securities Depository Limited (NSDL).

Stocks in news:

The current commercial capacity of NTPC Green Energy Limited Group stands at 7372.575 MW. With the addition of this capacity, the total installed capacity of the NGEL Group will increase to 7382.475 MW, the company said.

The project will be spread over 7.5 acres with a gross development value (GDV) of approximately ₹1,200 crore, Brigade Enterprises said.

Trade setup

On the options data front, the 25,500 calls hold the highest open interest for today’s expiry, indicating a crucial resistance. On the downside, 25,200 puts hold the highest open interest, indicating a strong support for the expiry.

Bullish outlook Traders with bullish sentiment can execute a long call strategy by buying 25,200 calls. The strategy would turn profitable after the index moves above 25,267.

Bearish outlook Traders with a bearish outlook can execute a long put strategy by buying a put strike of 25,300. The strategy would turn profitable after the index moves below the 25,210 level.