Asian Markets Update @ 7 am
The SGX Nifty is trading 37 points (-0.2%) lower compared to its last close, indicating a flat to negative start for the Nifty50 today. Major Asian markets are trading mixed. Japan’s Nikkei 225 rose 0.6%, while Hong Kong’s Hang Seng declined 0.7%.
Global Market Update
US stocks ended higher, led by banking and financial stocks nullifying a 2% fall in Alphabet, Google’s parent company. The Dow Jones advanced 0.3% to close at 33,987. The S&P 500 rose 0.3% to 4,151, while the Nasdaq Composite gained 0.2% to close at 12,123.
April Futures @ 17,751 ▼128 (-0.7%)
OI Contracts: 1,86,688 (-1.3%)
After nine straight sessions of gains, the Nifty50 ended lower on Monday. Weakness in IT stocks and HDFC twins dragged the index below the 17,600 level in the early hour of trade. The index pared some losses after the WPI eased to a 29-month low of 1.34% in March, and gains in banking and FMCG stocks pushed the index higher but could not cross over to the green territory.
Sectorally, PSU Bank (+3.1%) and FMCG (+1.0%) were the top gainers, whereas Pharma (-0.6%) and IT (-4.7%) were the biggest laggards.
The Nifty50 options expiring on 20 April have significant positions at 18,000 and 17,800 calls and 17,700 and 17,600 puts.
According to options data and OI analysis, the Nifty50’s long range for the 27th April expiry is between 17,400 and 18,000. On the other hand, 17,500 and 17,850 is the short-term range for this week.
April Futures @ 42,303 ▲113 (+0.2%)
OI Contracts: 90,868 (+1.6%)
The Bank Nifty ended a volatile day in the green, once again outperforming versus the Nifty50. It briefly breached the 41,800 level but rebounded with the help of PSU Banking stocks and ended higher.
Among banking stocks, Bank of Baroda (+2.8%) and Federal Bank (+2.5%) were the biggest gainers, while HDFC Bank (-1.5%) was the only laggard.
The Bank Nifty’s options expiring on 20 April have significant positions at the 42,500 and 43,000 calls and 42,000 and 41,000 puts.
According to options data and OI analysis, Bank Nifty’s range for the 27th April expiry is between 41,500 and 43,100. On the other hand, 41,700 and 42,800 is the short-term range for this week.
FII and DII Data💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹533 crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹269 crore in the cash market. In the derivatives market, FIIs sold index futures worth ₹747 crore and bought index options worth ₹2,533 crore. Further, they sold stock futures worth ₹662 crore and bought stock options worth ₹70 crore.
The fear gauge India VIX rose 3.0% to 12.27.
Long build-up was seen in Nestle, Havells, Aditya Birla Capital, Grasim and IDFC First Bank.
Short build-up was seen in Crompton Greaves, HCL Tech, LTI Mindtree, Coforge and Zee Entertainment.
Under F&O Ban: Balrampur Chini and Delta Corp.
*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.