Indian equity markets are witnessing sideways consolidation after trending lower in early morning trade. The Nifty was trading 46 points lower at 10,748, near its 200 DEMA which is currently at 10,744.
Bank Nifty relatively outperformed and was up 37 points at 26,920, mainly driven by strong gains in Yes Bank which was up 22.8% at Rs208/share after the company announced no divergence on asset classification and provisioning for FY18.
Among sectoral indices, Nifty Metal is the worst performing index, down 1.79% led by a sharp correction in Coal India and NALCO.
On the options front, short positions were seen in OTM strikes with 10700PE and 10800CE witnessing an addition of ~13 lakh shares and ~23 lakh shares, respectively, as traders tried to benefit from the sideways consolidation in the index. (14th Feb Expiry)
Some of the prominent companies that would be announcing their results today are HDIL, India Bulls Real Estate, Jet Airways, MMTC, NSECO, Nestle, United Breweries, and Voltas.