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Monday, 12 February 2018

Nifty reclaims 10,500, as global equities bounce back | Trade Nivesh investment

Markets opened gap up and witnessed a sideways consolidation through the day before witnessing further buying interest in the final hour of trade, helping Nifty close above the physiological level of 10,500. All the major indices managed to record nearly 1% gains with the Nifty Midcap Index being the star performer, gaining 1.36%. HDFC, HDFC Bank, and Reliance were the major contributors to the index in today’s trade. Market breadth ended in the favor of advance with the advance-decline ratio closing at 4:1x.
Nifty February futures witnessed a surge in open interest to the tune of ~14.96 lakh shares, while Bank Nifty Futures witnessed a marginal surge in open interest to the tune of 12,000 shares, mainly long positions. 
Tracking the Nifty options, 10500PE and 10400PE saw an addition in open interest to the tune of ~5.4 lakh shares and ~4.3 lakh shares, respectively, indicating fresh short positions, while at the money call options witnessed a marginal decline in open interest.

India VIX index closed 7% lower ending at 17.88.

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