Friday 16 November 2018

Bank Nifty Ends Weekly Expiry 224 Points Higher Jet Airways Takes Off

Posted by suhani varma on Friday, November 16, 2018 with No comments

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Markets continued the positive momentum with Nifty and Bank Nifty gaining traction in the second half of the session. Nifty ended the day 40 points higher at 10,576 led by gains in financial and metal stocks.

Bank Nifty ended the weekly expiry 224 points higher on account of short covering in at-the-money strikes.

However, the real outperformer of the day's session was Jet Airways, which ended the day ~24% higher after reports emerged that Tata Group was considering the acquisition of the cash-strapped carrier.

Tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a surge in open interest to the tune of 1.7% and 16%, respectively.

On the options front, short covering was witnessed in Bank Nifty for major at-the-money strikes with 26000CE and 26100CE shedding ~8 lakh shares and ~5.4 lakh shares, respectively, which propelled the index higher.

India Vix ended the day 1.94% lower at 18.45.

Nifty +40 points @10,616
Bank Nifty+224 points @26,154
Top 2 F&O GainerJet Airways, Allahabad Bank
Top 2 F&O LoserVodafone Idea, PC Jeweller
Most Active Index Option Contract
Call Option10700CE, O.I: ~+2.62 lakh shares
Put Option10400PE, O.I:~+3.52lakh shares
Nifty Max O.I Strikes11000CE, 10000PE

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