Informist, Thursday, Sep 8, 2022
By Vidya Sreedhar
MUMBAI – The banking pack has been in action in the recent past, much more than the benchmark Nifty 50.
Shares of State Bank of India rose to a one-month high of 546.30 rupees in the cash market, which triggered bullish bets in the derivatives segment. The stock ended 2.2% higher at 544.65 rupees.
Premiums of out-of-the-money call options 550 rupees and 560 rupees surged and were among the most actively traded contracts today. This suggests the traders do see chances for the stock to test those levels in the near term.
Meanwhile in Nifty Bank, most out-of-the-money call options, expiring on Sep 15, have seen an addition in open interest. This indicates that traders are more bullish on the banking index than on Nifty 50.
In the spot market, Nifty 50 ended nearly 1% higher at 17798.75 points, whereas Nifty Bank ended nearly 2% higher at 40208.95 points. Intraday, Nifty Bank hit a 11-month high of 40265.75 points.
For Nifty 50, the options data currently suggests that 17500 will be a major support level for the index, as this strike price put option, expiring on Sep 15, saw the maximum addition in open interest and also holds the highest open interest.
On the upside, 18000 remains a pivot level for the Nifty 50 and a decisive crossover of this level only will decide the next trajectory for the market, analysts said. The 18000 strike price call option, expiring on Sep 15, saw the maximum addition in open interest and also holds the highest open interest.
--Nifty 50 Sep closed at 17832.10, up 181.10 points; 33.4-point premium to spot index
--Nifty 50 Oct closed at 17882.00, up 181.55 points; 83.3-point premium to spot index
--Nifty 50 Nov closed at 17946.00, up 180.40 points; 147.3-point premium to spot index
The total turnover in the futures and options segment of the National Stock Exchange more than doubled from the previous session to 260 trln rupees, due to the expiry of the weekly index options.
The turnover in index options surged to 257 trln rupees from 119 trln rupees Wednesday. The total premium turnover of the index and stock options was over 531 bln rupees compared with 452 bln rupees in the previous session.
ICICI Bank, Axis Bank, InterGlobe Aviation, HDFC Bank, Bharti Airtel, Adani Ports and Special Economic Zone, State Bank of India, Tata Motors, Reliance Industries, Ambuja Cements, Adani Enterprises, and Infosys were among the most-actively traded underlying stocks today. End
Edited by Michael Correya
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, Thursday, Sep 8, 2022
By Vidya Sreedhar
MUMBAI – The banking pack has been in action in the recent past, much more than the benchmark Nifty 50.
Shares of State Bank of India rose to a one-month high of 546.30 rupees in the cash market, which triggered bullish bets in the derivatives segment. The stock ended 2.2% higher at 544.65 rupees.
Premiums of out-of-the-money call options 550 rupees and 560 rupees surged and were among the most actively traded contracts today. This suggests the traders do see chances for the stock to test those levels in the near term.
Meanwhile in Nifty Bank, most out-of-the-money call options, expiring on Sep 15, have seen an addition in open interest. This indicates that traders are more bullish on the banking index than on Nifty 50.
In the spot market, Nifty 50 ended nearly 1% higher at 17798.75 points, whereas Nifty Bank ended nearly 2% higher at 40208.95 points. Intraday, Nifty Bank hit a 11-month high of 40265.75 points.
For Nifty 50, the options data currently suggests that 17500 will be a major support level for the index, as this strike price put option, expiring on Sep 15, saw the maximum addition in open interest and also holds the highest open interest.
On the upside, 18000 remains a pivot level for the Nifty 50 and a decisive crossover of this level only will decide the next trajectory for the market, analysts said. The 18000 strike price call option, expiring on Sep 15, saw the maximum addition in open interest and also holds the highest open interest.
--Nifty 50 Sep closed at 17832.10, up 181.10 points; 33.4-point premium to spot index
--Nifty 50 Oct closed at 17882.00, up 181.55 points; 83.3-point premium to spot index
--Nifty 50 Nov closed at 17946.00, up 180.40 points; 147.3-point premium to spot index
The total turnover in the futures and options segment of the National Stock Exchange more than doubled from the previous session to 260 trln rupees, due to the expiry of the weekly index options.
The turnover in index options surged to 257 trln rupees from 119 trln rupees Wednesday. The total premium turnover of the index and stock options was over 531 bln rupees compared with 452 bln rupees in the previous session.
ICICI Bank, Axis Bank, InterGlobe Aviation, HDFC Bank, Bharti Airtel, Adani Ports and Special Economic Zone, State Bank of India, Tata Motors, Reliance Industries, Ambuja Cements, Adani Enterprises, and Infosys were among the most-actively traded underlying stocks today. End
Edited by Michael Correya
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.
