Markets close higher; Tata Group stocks outperform

TCS & Tata Motors added heavy long positions throughout the day as the underlying price surged ~8% & 5% higher respectively

Apr 15, 2019 10:04 IST India Infoline News Service

Stock Market Chart
Indian equity markets traded with a positive bias as across the board buying was seen in Tata Group companies. TCS & Tata Motors added heavy long positions throughout the day as the underlying price surged ~8% and 5% higher respectively.

Nifty IT index was among the top outperformers, gaining 1.3%, while Nifty PSU Bank index was among the laggards, shedding 0.4% at close.  Both Nifty & Bank Nifty indices managed to close in the green.

IGL, Page Industries & CESC were among the top midcap index gainers, adding fresh long positions along with a rise in underlying price of ~3% each. Market breadth ended in the favour of the advances with advance/decline ratio closing at 1:1x.
 
Nifty and Bank Nifty futures added fresh open interest, consisting of mainly long positions.
 
On the options front (April 11, 2019 expiry), across the board short selling was seen in out of the money Nifty Put option strikes for the third day in a row. Nifty 11600PE is the maximum open interest strike, consisting of mainly short positions, making 11600 level as an immediate floor level for the weekly contract.

India VIX closed at 21.4, up ~1.85%.
 
Top 2 F&O Gainers: PCJEWELL & INFIBEAM
Top 2 F&O Losers: JETAIRWAYS & TV18
Nifty +47 @11,691
Bank Nifty +166 @30,104

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