Wednesday 5 December 2018

Nifty Ends Flat Ahead Of RBI's Monetary Policy Meet

Posted by suhani varma on Wednesday, December 05, 2018 with No comments

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Indian stock markets witnessed yet another lackluster session on Tuesday as traders exercised caution ahead of the outcome of the RBI's monetary policy meeting. The minutes of the meeting will be announced at 2:30 pm on Wednesday.

For the day, the NSE Nifty ended the session 14 points lower at 10,869, ending its six-day winning streak, while the Bank Nifty relatively underperformed and closed 163 points lower at 26,693 due to a correction in frontline PSU Banking stocks.

Among the sectoral indices, Nifty IT was the best-performing index and managed to end the day 1.76% higher led by strong gains in Infosys and TCS.

Tracking the derivative data points, Nifty Futures witnessed a surge in open interest while Bank Nifty Futures continued to witnesses a decline in open interest, mainly long unwinding.

On the options front, short positions were built in out-of-the-money call and put options as indices remained range-bound throughout the day.

India Vix ended the day 0.62% lower at 18.10.

Nifty-14 points @10,869
Bank Nifty-163 points @26,663
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