Bank Nifty ends weekly expiry on a flat note

Markets traded in a narrow range before witnessing buying interest in the final hour of trade helping Nifty and Bank Nifty end near the high point of the day in an otherwise lackluster trading session.

Metal stocks were the major gainers in today’s trade with all the frontline metal stocks gaining ~4-6%.

Oil marketing companies continued to face selling pressure with BPCL, HPCL, and IOC correcting 7.18%, 5.62%, and 3.94% respectively.

Market breadth ended in the favor of the advances with Advance/Decline ratio closing at 1:1x.

Tracking the derivative data points, Nifty Futures and Bank Nifty Futures added open interest to the tune of ~3.74 lakh shares and ~82 thousand shares respectively mainly long positions.

Tracking the Bank Nifty Index Options, option writing was the flavor of the day as the Index traded in a narrow range. Bank Nifty 25200CE and 25300Ce witnessed a surge in open interest to the tune of ~14 lakh shares and ~13.84 lakh shares respectively while 25000PE witnessed a surge in open interest to the tune of ~11.79 lakh shares.

India Vix index ended the session 2.57% lower at 13.74.

Nifty+39 points @ 10,565
Bank Nifty+23 points @ 25,126
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Call Option10600CE, O.I: +4.71 lakh shares
Put Option10500PE, O.I: +~6.70 lakh shares
Nifty Max O.I Strikes10700CE, 10500PE
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