Wednesday, 7 February 2018

Markets ends lower as RBI maintains status quo

Markets witnessed a sharp sell-off in last one hour of trade as RBI flagged concerns regarding rising inflation. Major heavyweights like L&T & HDFC Bank dragged the benchmark index lower, while Mid-cap index managed to close marginally higher.

Trading favourite Vakrangee Ltd. continued its southward journey, crashing ~60% in last 9 trading sessions. Market breadth finally ended in the favour of advance with advance-decline ratio closing at 3:1x.

Nifty/Bank Nifty Index February futures witnessed a surge in open interest to the tune of ~7.7 lakh/2.2 lakh shares, indicating a buildup of short positions.

Tracking the Bank Nifty options, short gamma and short vega strategies were the flavour of the day as both out of the money call and put options of 08 February 2018 expiry contract tumbled on account of lacklustre index movement and falling implied volatility.

India VIX witnessed a decline of ~2%, ending the session at 19.45 levels.

- 22 points @ 10477
Bank Nifty
-141 points @ 25670
Top 2 F&O Gainer:
Fortis & BEL
Top 2 F&O Loser:
Hexaware & Siemens
Most Active Index Option Contract:
Call Option
11000CE, O.I: +~30  lakh shares
Put Option:
10000PE, O.I: + ~9.05 lakh shares
Nifty Max O.I Strikes:
11500CE, 10500PE
Bank Nifty Max O.I Strikes:
27000CE, 25000PE (8TH Feb 2018 Expiry)

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