Bank Nifty retains a flat position

During Monday’s trading session, the Bank Nifty index opened higher by 77 points at the 24,351 level and is trading flat. IDFC Bank is the top gainer in the index, trading at Rs 55.65 per share, up by 0.82%. ICICI Bank, Federal Bank and Bank of Baroda were also among the top gainers in the index, trading higher by over 0.5%.
 
The Nifty PSU Bank index was trading flat at 3,324 while the Nifty Private Bank index was trading at the 13,635 level, up by 36 points or 0.27%.
 
This is the expiry week wherein derivative contracts of August series are going to expire on August 31, 2017. On derivative front, Bank Nifty 24,500 strike of August 31 series witnessed maximum open positions with selling pressure.
 
The put call ratio stood at 1.13, signalling a bearish undertone. The Bank Nifty futures of August series was trading at a premium of 13 points. Meanwhile, Nifty was trading at 9,897, up by 39 points while Sensex was trading at 31,739, up by 143 points during the morning hours on Monday. There were 1,102 advances, 405 declines and 442 unchanged stocks on the NSE, reflecting strong positive sentiments in the market.