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Markets opened gap down and continued to trend lower right through the day with broad-based selling in the markets. Nifty witnessed heavy short covering in put options which accentuated the fall in the markets.
Reliance Industries was the main contributor towards the fall in the Index tanking 6.87%, the highest in nearly two years. Shares of oil marketing companies (OMCs) also slumped after Finance Minister Arun Jaitley announced a fuel price cut of Rs2.5/liter. HPCL, BPCL, and IOC ended the day 13.54%, 12.36%, and 11.43% lower, respectively. Bank Nifty relatively outperformed, ending the weekly expiry 1% lower.
Tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a huge surge in open interest mainly indicating short positions.
On the options front, heavy call writing was witnessed in out-of-the-money strikes with 10900CE and 11100CE adding ~13.09lakh shares and ~13.12lakh shares, respectively.
India Vix witnessed a spike ending the day 4.42% higher at 18.91
Reliance Industries was the main contributor towards the fall in the Index tanking 6.87%, the highest in nearly two years. Shares of oil marketing companies (OMCs) also slumped after Finance Minister Arun Jaitley announced a fuel price cut of Rs2.5/liter. HPCL, BPCL, and IOC ended the day 13.54%, 12.36%, and 11.43% lower, respectively. Bank Nifty relatively outperformed, ending the weekly expiry 1% lower.
Tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a huge surge in open interest mainly indicating short positions.
On the options front, heavy call writing was witnessed in out-of-the-money strikes with 10900CE and 11100CE adding ~13.09lakh shares and ~13.12lakh shares, respectively.
India Vix witnessed a spike ending the day 4.42% higher at 18.91
| Nifty | -259 points @10,599 |
| Bank Nifty | -250 points @24,819 |
| Top 2 F&O Gainer | INFIBEAM, HPCL |
| Top 2 F&O Loser | JET AIRWAYS, INDIGO |
| Most Active Index Option Contract | |
| Call Option | 11000CE, O.I: ~+13.12lakh shares |
| Put Option | 10400PE, O.I: ~+8.24 lakh shares |
| Nifty Max O.I Strikes | 11000CE, 10500PE |
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