Indian Equity Benchmarks Remain Range-Bound Amid Low Turnovers
Little Change In Indices; Traders Refrain From Taking Large Bets
In a quiet day of trade of low turnovers, the Indian equity markets continued to consolidate on Tuesday.
Indian equity benchmarks continued to consolidate on Tuesday, amid low turnovers. The Nifty 50 index declined 0.2 percent to close at 8,947.
The index’s futures open interest gained 1 percent reflecting selling. The Nifty Bank index too closed with little change. Its futures saw unwinding of positions with its open interest falling by 2.2 percent. Foreign institutional investors bought index futures worth Rs 66 crore on a net basis.
The India Volatility Index (VIX) advanced 1.7 percent to close at 13.87. This indicates further expansion in option premiums despite the indices remaining rangebound. The trend of writing the 9,100 calls and 8,600 puts continued on Tuesday.
Maximum open interest remained with the 9,000 call and the 8,800 put. FIIs bought 2,771 index call contracts and 1,185 index put contracts on a net basis.
