Panic buying takes indices upward; Nifty ends the week ~1% higher

India Infoline News Service | Mumbai | October 12, 2018 16:03 IST

Nifty & Bank Nifty posted the biggest percentage gains since May 2016.

Bull Market
Indian equities saw a stellar trading session backed by across-the-board buying seen in major large- and mid-cap stocks. Nifty & Bank Nifty posted the biggest percentage gains since May 2016, ending the day with 2% gains. Market breadth ended in the favor of advances with an advance/decline ratio of 4:1x.

Tracking the derivative data points, Nifty & Bank Nifty futures added fresh long positions with a rise in open interest to the tune of 5%/22%.

On the options front, heavy short covering was seen in Nifty 10500CE as option writers ran for cover. Across the board, short selling was seen in at-the-money & out-the-money put option strikes, indicating a formation of a base for the index around the 10,200 level. 

India Vix ending the day 6% lower at 18.6.

Nifty  238 points @10,473
Bank Nifty 612 points @25,396
Top 2 F&O Gainer INDOCOUNT, TATAPOWER
Top 2 F&O Loser TCS, MINDTREE
Most Active Index Option Contract
Call Option 10500CE, O.I: ~- 9.12 lakh shares
Put Option 10400PE, O.I: ~+8.62lakh shares
Nifty Max O.I Strikes 11000CE, 10000PE

 

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