Live share market update: Markets surge higher, Nifty up 40 points

Metal and PSU Banking stocks outperform.

Feb 21, 2019 08:02 IST India Infoline News Service

Analyzing Market Algorithms
Indian equity markets are gradually inching higher with benchmark indices trading near the high point of the day. The Nifty rose 40 points to 10,776, while Bank Nifty was up 77 points at 27,032.

Across-the-board buying was seen with all sectoral indices trading in the green, with Nifty Metal being the top performer up 1.11%. 

PSU Banking stocks also put up a strong show following the announcement by the Government to infuse Rs48,239cr in 12 PSU banks. Corporation bank, which was the top beneficiary, was up 17.46% in intraday trade.

The volatility in the market is expected to surge ahead of the weekly expiry in Nifty and Bank Nifty. 

On the options front, heavy put writing was witnessed in OTM strikes with 10700PE witnessing an addition of 31 lakh shares.

Top 2 F&O Gainers: SUZLON, RCOM
Most Active Index Option Contract: (21st  FEB)   
Call Option 10850CE, O.I: ↑~ 16.89 lakh shares
Put Option: 10700PE, O.I: ↑~ 31 lakh shares
O.I Spurt
CANFINHOME O.I↑20.7%   Price ↑8.2% (Fresh Long Positions)
TECHM O.I↑16.9%  Price↑2.1%  (Fresh Long Positions)

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