Indian Markets end up 0.72% - Nirmal Bang

Indian markets ended up 0.72% yesterday on account of better than expected March WPI data. The Indian markets ended in green in spite of negative global cues as the optimism for rate cut increases with March WPI at 5.96%. This is the 40 month law figure for the wholesale price index. The Core inflation was also below 4% for the month of March.

Overseas, Dow closed 1.82% lower at 14,599.2 (down 265.86pts). The European markets also closed lower with FTSE, CAC & DAX down 0.65%, 0.51% & 0.42% respectively.

FIIs were net sellers in cash as well as in Index Future to the tune of Rs 418.4Cr & 110.5Cr respectively.

India VIX increased by 0.97% to close at days high 16.61 touching an intra-day high of 17.07.

Significant additions in put OI build up at 5500 & 5600 level suggest bullish undertone for the markets. Buy the upside for the Nifty Future is expected to be limited.

Highest OI build-up is seen at 5700 Call and 5500 strike Put, to the tune of 10.38 mn and 11.62 mn respectively.

Markets are likely to open on a negative note following the weak global cues and are likely to remain range bound during the day.

Source : Equity Bulls

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