EXTENSION

The markets opened on a flat note after Thursday’s muted close and entered the negative zone within the first fifteen minutes of trade and traded rangebound for greater part of the session, but within the last half an hour of the trading session, the markets made an almost vertical ascent and touched their intraday highs before closing near the highest point of the day. The Nifty and the Sensex closed up by 17 & 34 points respectively. The market breadth was negative with 630 advances to 739 declines. On the sectoral front, the Banking sector was the biggest gainer, followed by the Midcap, Infra & IT sectors. On the individual stocks front, BHEL, JP Associate, DLF, Reliance Infra & NTPC were the top five Nifty gainers, while HCL Tech IndusInd Bank, Dr. Reddy, Bharti Airtel & NMDC were the top five Nifty losers for the day. On the institutional side, FIIs were net buyers to the tune of 868 crores, while DIIs were net sellers to the tune of 717 crores in the cash market.

On the derivatives side, FIIs were net sellers in Index futures to the tune of 310 crores and net buyers in Index options to the tune of mere 26 crores, similarly they were net sellers in Stock futures to the tune of 108 crores and net buyers in Stock options to the tune of 34 crores. Nifty future settled at 6196 with just nine points premium to the spot along with marginal increase in open interest. On the Options side, PCR stood at 1.08, along with a marginal decline in the India VIX by 0.96%. On the Call options side, except the 6300 & 6200 call there was uniform loss of open interest from the 5000 to 6100 calls. On the Put options side, the 6200 put added the maximum open interest, followed by the 6100 & 6000 puts, while there was uniform loss of open interest, from the 5500 to 5900 puts. The entire activity in F&O space indicates, profit booking on the call options side along with option writing on the higher side of the market in the put options side.

On the technical side, Nifty continued to scale new highs, and is well on its way to scaling new peaks, as indicated by the various indicators on the daily and weekly charts. The levels to watch out for Nifty, will be 6209,6231 on the upside and 6155, 6123 on the downside. On the currency front, the partially convertible Rupee managed to close at 54..88, while the near month USD-INR future settled at 54.95 for the week.

On the international markets front, the Asian, European and the U.S. markets have all closed on a very positive note for the week. On the Energy futures front, both the Brent and the WTI crude oil future have closed up by 0.12 & 0.90 % at 103.80 & 96.02 $/bbl respectively, while the Natural gas future has closed up by 3.13% at 4.06 $/MMBtu.