PSU Bank stocks zooms ahead of recapitalization news

India Infoline News Service | Mumbai | October 24, 2017 16:24 IST

Nifty PSU Bank index gave a stellar show, gaining ~4% during the day with all its constituents’ closing at weekly highs

Stock-market-bull
In today’s trade, Nifty continued to trade higher on account of better than expected earnings report by index heavyweights like HDFC Bank, Zeel and Asian Paints.

Nifty PSU Bank index gave a stellar show, gaining ~4% during the day with all its constituents’ closing at weekly highs.

Nifty Bank futures closed around its 50day EMA at 24235, up 0.5%, with no major activity in open interest terms.

Tracking the options front, interestingly 24500PE which is ~300 points out of money saw unwinding of ~30% in open interest to the tune of ~3.2 lakh shares with a reduction of ~25% in premium value, hinting an unwinding of long positions.

India Vix index closed at 11.59, tumbling ~6%.
Nifty: +22points @ 10207
Bank Nifty +133 points @ 24222
Top 2 F&O Gainer:  JET AIRWAYS, ANDHRA BANK
Top 2 F&O Loser: HAVELLS, RELIANCE COMM
Most Active Index Option Contract:
Call Option 10200CE, O.I: ↓ ~8 lakh shares
Put Option: 10200PE, O.I: ↑~12 lakh shares
Nifty Max O.I Strikes: 10300CE, 10000PE
Bank Nifty Max O.I Strikes: 25000CE, 24000PE (26th Oct 2017 Expiry).

 

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