Markets witness a volatile trading session, FMCG stocks outperform

HUL manages to close at fresh 52 week high.

May 16, 2018 10:05 IST India Infoline News Service

Stock Market Uncertainty
Markets observed yet another volatile trading session with Nifty witnessing wild swings right through the day before finally ending the session in the red. Volatility persisted as traders awaited clarity on government formation in Karnataka after BJP fell short of the halfway mark. The correction could have been much steeper had it not been for strong gains in FMCG stocks with HUL and ITC gaining 3.87% and 1.42%, respectively. Market breadth ended in favor of declines with advance-decline ratio closing at 1:2x.

Tracking the derivative data points, Nifty futures witnessed a marginal addition in open interest to the tune of ~52,000 shares, while Bank Nifty Futures witnessed a  decline in open interest to the tune of ~1.37 lakh shares.

Tracking the Nifty Index Options, call writing was witnessed in major out of the money strikes with 10800CE and 10900CE adding ~7.07 lakh shares and ~3.84 lakh shares, respectively while 10800PE witnessed short covering to the tune of ~7.31 lakh shares.

India VIX index ended the session 7.55% lower at 13.16.

Nifty   -60 points @ 10741
Bank Nifty -291 points @ 26182
Top 2 F&O Gainer Karnataka Bank, HUL
Top 2 F&O Loser Syndicate Bank, Reliance Communication
Most Active Index Option Contract
Call Option 10700CE, O.I: + 7.07 lakh shares
Put Option 10800PE, O.I: -7.31 lakh shares
Nifty Max O.I Strikes 11000CE, 10500PE

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