In today’s trade markets witnessed a gap up opening after Mood’s raised India’s credit rating from Baa3 to Baa2.
Banking stocks were the star performs with ICICI Bank taking the lead, helping Bank Nifty end the session at an all-time high.
Profit booking was witnessed towards the latter half of the day ahead of the weekend but Nifty and Bank Nifty Index still ended firmly in the green.
Nifty Bank futures witnessed a huge spike in open interest to the tune of 7.82 % mainly on the long side. Nifty futures too witnessed fresh long positions to the tune of 1.39%.
Tracking the options front, Nifty ATM 10200CE & 10300CE witnessed unwinding of short positions with a reduction in open interest to the tune of ~11 lakh and ~2.3 lakh respectively. Heavy put writing was witnessed in 10300PE which added ~ 18 lakh contracts. Bank Nifty too witnessed put writing in strikes from 25400- 25700 as the index moved higher. India Vix ended the day 13.71 up 1.88%.
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