Informist, Wednesday, Sep 7, 2022
By Vidya Sreedhar
MUMBAI – Trading activity in the derivatives segment of Nifty 50 was muted as investors refrained from taking aggressive bets due to lack of positive global cues.
Today, Nifty 50 closed at 17624.40, down 31.20 points or 0.2%, after moving between 17484.30 points and 17650.75 points.
The trading range for Nifty 50 in the near term remains at 17400-17800 points, and most analysts said that a breakout on either side is necessary for a directional move.
While the market breadth has been positive, the index has been unable to give a breakout on the upside.
"This is primarily because of factors such as the rising dollar index, short formations by foreign instituional investors in index futures segment, and weak global markets," said Ruchit Jain, lead research analyst at 5paisa.com.
Until there is a breakout, traders are advised to be stock specific and avoid index directional trades, Jain said.
While action in the index was not significant, stock-specific momentum persisted and kept traders active in the mid-cap space.
Among the prominent gainers today was the cement sector, as it played catch-up with others after the recent downtrend. Long positions were built across major names, including Shree Cement, Ambuja Cements, ACC, and UltraTech Cement.
While shares of Shree Cement hit an over three-month high, UltraTech Cement rose to a one-month high, and Ambuja Cements scaled a lifetime high.
Container Corp of India was also one of the most-actively traded stocks, as traders built long positions after the stock hit a lifetime high of 766.70 rupees intraday. The stock ended nearly 9% higher at 726.55 rupees.
Positioning in the options of the stock indicates that it can test 800 rupees in the near term, as that call option has seen significant addition in open interest today.
--Nifty 50 Sep closed at 17655.00, down 27.95 points; 31-point premium to spot index
--Nifty 50 Oct closed at 17709.00, down 25.35 points; 85-point premium to spot index
--Nifty 50 Nov closed at 17772.00, down 30.00 points; 148-point premium to spot index
The total turnover in the futures and options segment of the National Stock Exchange was at 122 trln rupees today, largely unchanged from the previous close.
The turnover in index options at 119 trln rupees was also unchanged from Tuesday. The total premium turnover of the index and stock options was 452 bln rupees compared with 524 bln rupees in the previous session.
Reliance Industries, Adani Enterprises, Adani Ports and Special Economic Zone, Ambuja Cements, ACC, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, Tata Power, and UltraTech Cement were among the most-actively traded underlying stocks. End
Edited by Tanima Banerjee
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
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Informist, Wednesday, Sep 7, 2022
By Vidya Sreedhar
MUMBAI – Trading activity in the derivatives segment of Nifty 50 was muted as investors refrained from taking aggressive bets due to lack of positive global cues.
Today, Nifty 50 closed at 17624.40, down 31.20 points or 0.2%, after moving between 17484.30 points and 17650.75 points.
The trading range for Nifty 50 in the near term remains at 17400-17800 points, and most analysts said that a breakout on either side is necessary for a directional move.
While the market breadth has been positive, the index has been unable to give a breakout on the upside.
"This is primarily because of factors such as the rising dollar index, short formations by foreign instituional investors in index futures segment, and weak global markets," said Ruchit Jain, lead research analyst at 5paisa.com.
Until there is a breakout, traders are advised to be stock specific and avoid index directional trades, Jain said.
While action in the index was not significant, stock-specific momentum persisted and kept traders active in the mid-cap space.
Among the prominent gainers today was the cement sector, as it played catch-up with others after the recent downtrend. Long positions were built across major names, including Shree Cement, Ambuja Cements, ACC, and UltraTech Cement.
While shares of Shree Cement hit an over three-month high, UltraTech Cement rose to a one-month high, and Ambuja Cements scaled a lifetime high.
Container Corp of India was also one of the most-actively traded stocks, as traders built long positions after the stock hit a lifetime high of 766.70 rupees intraday. The stock ended nearly 9% higher at 726.55 rupees.
Positioning in the options of the stock indicates that it can test 800 rupees in the near term, as that call option has seen significant addition in open interest today.
--Nifty 50 Sep closed at 17655.00, down 27.95 points; 31-point premium to spot index
--Nifty 50 Oct closed at 17709.00, down 25.35 points; 85-point premium to spot index
--Nifty 50 Nov closed at 17772.00, down 30.00 points; 148-point premium to spot index
The total turnover in the futures and options segment of the National Stock Exchange was at 122 trln rupees today, largely unchanged from the previous close.
The turnover in index options at 119 trln rupees was also unchanged from Tuesday. The total premium turnover of the index and stock options was 452 bln rupees compared with 524 bln rupees in the previous session.
Reliance Industries, Adani Enterprises, Adani Ports and Special Economic Zone, Ambuja Cements, ACC, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, Tata Power, and UltraTech Cement were among the most-actively traded underlying stocks. End
Edited by Tanima Banerjee
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
