Tuesday 27 November 2018

Frontline Stocks Propel Indices Higher Bank Nifty Outperforms

Posted by suhani varma on Tuesday, November 27, 2018 with No comments


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Markets witnessed a volatile trading session, with the Nifty posting a smart recovery in the second half of the session and managing to close near the high point of the day. The Nifty ended the day 101 points higher at 10,628 led by broad-based buying, especially in FMCG stocks which was the best performing sectoral index ending the day 2.36% higher.

However, the star performer in today's trade was Bank Nifty, which ended the session 366 points higher at 26,365 driven by strong gains in HDFC Bank, Axis Bank, and Indusind Bank. Yes Bank, too, witnessed a strong recovery closing at 191.5 levels after hitting an intraday low of 182.2.

Tracking the derivative data points, Nifty and Bank Nifty Futures witnessed a surge in open interest to the tune of 4.78% and 21.48%, respectively, mainly fresh long positions.

On the options front, put writing was witnessed in all the major out-of-the money strikes, with 10500PE adding ~ 13 lakh shares in open interest resulting in the highest open interest base shifting from 10000PE to 10500PE in the Nov series. 

India Vix ended the day 6.4% lower at 20.4
Nifty +101 points @10,628
Bank Nifty+366 points @26,365
Top 2 F&O GainerAdani Power, Hero MotoCorp
Top 2 F&O LoserJindal Steel, DHFL
Most Active Index Option Contract
Call Option10600CE, O.I: ~-6 lakh shares
Put Option10500PE, O.I: ~+13 lakh shares
Nifty Max O.I Strikes10700CE, 10500PE

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