Tuesday 20 November 2018

Markets Close On A Strong Note All Eyes On RBI Meeting Outcome

Posted by suhani varma on Tuesday, November 20, 2018 with No comments

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Markets opened gap up and traded with a positive bias right through the day on Monday with the NSE Nifty managing to close near its high point of the day. Strong buying was witnessed in pharma and metal stocks, which propelled the index higher.

Bank Nifty too managed to end in the green with a gain of 55 points at 26,300. Yes Bank was the top performer and closed 7.23% higher. Investors are cautious ahead of the outcome of the RBI board meeting. The meeting had commenced at 10:30 am on Monday and the outcome is expected sometime in the evening.

Meanwhile, tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a surge in open interest to the tune of ~5% and 8.85%, respectively, consisting mainly of long positions.

On the options front, heavy put writing was witnessed in at-the-money and out-of-the-money strikes with Nifty 10700PE and 10600PE adding ~11.63 lakh shares and ~6 lakh shares, respectively.

India Vix ended the day 4.93% lower at 19.25.

Nifty+81 points @10,763
Bank Nifty+55 points @26,300
Top 2 F&O GainerYes Bank, Reliance Infra
Top 2 F&O LoserJet Airways, Suzlon
Most Active Index Option Contract
Call Option11000CE, O.I: ~+2.87 lakh shares
Put Option10700PE, O.I: ~+11.63 lakh shares
Nifty Max O.I. Strikes10800CE, 10000PE

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