Some Hope As Nifty Closes Above The 7800 Mark

Post Market Commentary
 
Indian Benchmark index gave a gap down opening on  back of negative cues of Asian peers and the Nifty Index made a low of  7714 levels in the early trading session. After registering low levels the market recovered on a back of short-covering and buying was seen in Index heavy weights such as Gail, SBI, Tata steel, ICICI Banks and  in the last hour of trading Nifty trimmed some gains and closed above levels of 7800.  

The breadth for the Nifty index turned negative to positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 33 stocks closed in the green, whereas 17 stocks closed in the red. 
 
Top 5 Nifty Gainers: TATASTEEL was the top gainer gaining with 4.15% followed by GAIL, VEDL, SBIN and DRREDDY.
 
Top 5 Nifty Losers: COALINDIA was the top loser with a loss of 5.46% followed by HINDUNILVR, TATAPOWER, HEROMOTOCO and POWERGRID.
 
In today’s trading session, the PSU Bank sector was the top gainer gain with 2.81% where as IT sector was top loser lose with 0.89%.  
 
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.73% today, Hong Kong's Hang-Seng was down by 1.75% , while Japan's Nikkei was down by 1.05% today.
 
The European indices traded in green, London’s FTSE 100 index was up by 0.22% and the German DAX up by 0.26% and France CAC up by 0.15%. 


Derivative Analysis

The Nifty November futures open interest has increases by 1.25%. Bank Nifty November futures open interest has increases by 3.73%. Nifty market closed at 7,806.60 levels & Bank Nifty closed at 17,184.90 levels.

The Nifty November future closed at a premium of 19.55 point.

The December series closed at a premium of 64.25 points.

The Implied Volatility of at the money options has increased by 1.27%.  

Nifty PCR-OI has sustain at 0.68 levels.