Markets stage smart rally at fag-end; Bank Nifty ends 396 points higher

Bank Nifty edged higher on the back of heavy volumes in the stock of private lender Kotak Mahindra Bank.

Dec 07, 2018 10:12 IST India Infoline News Service

Bull Market
The Indian stock market staged a smart rally at the fag-end of the day on Friday after witnessing heavy selling pressure right through the week.  The indices had opened gap up and traded with a positive bias through the day.

The Nifty ended 92 points higher at 10,693, while Bank Nifty rallied 396 points to 26,594.

Nifty Pvt Bank was the best-performing sectoral index, which saw strong gains led by heavy volumes in Kotak Mahindra Bank, which ended the day 8.4% higher.

All eyes would now be on the exit polls at five Indian states, which would be published later in the day and the results of the elections will be declared on December 11.

Tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a surge in open interest mainly fresh long positions.

On the Options front, put writing was witnessed in out-of-the-money strikes with 10600PE and 10500PE adding ~5.2 lakh shares and ~5.8 lakh shares, respectively.

India Vix ended the day 3.68% lower at 18.59%.

Nifty +92 points @10,693
Bank Nifty +396 points @ 26,594
Top 2 F&O Gainers Muthoot Fin, Kotak Mahindra Bank
Top 2 F&O Losers HCL Tech, Jubilant Food
Most Active Index Option Contract
Call Option 11200CE, O.I:~ +6.28 lakh shares
Put Option 10000PE, O.I:~+7  lakh shares
Nifty Max O.I Strikes 11000CE, 10000PE

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