Indian Markets end with 1.66% gains on Thursday - Nirmal Bang

The Indian markets ended the week on firm note with 1.66% gains on Thursday. Improvement in India's March trade deficit on account of decrease in crude oil & Gold prices provided positive impetus to the markets. According to the government data India's March trade deficit touched a two-year low of USD 10.3 billion.

Overseas, Dow closed marginally positive at 14,547.51 (up 10.37pts). The European markets closed mix with FTSE & DAX up 0.68% & 1.44% and CAC down 0.18% respectively.

FIIs were net buyers in cash as well as in Index Future to the tune of Rs 940.1Cr & 784.4Cr respectively.

India VIX decreased by 6.11% to close at days high 15.35 touching an intra-day high of 16.41.

Heavy additions in put OI build up at 5800 level suggest continuation of bullish undertone in the markets. The upward movement for the Nifty Future is also indicated by shifting of call OI build up from 5700 to upper strike prices.

Highest OI build-up is seen at 5800 Call and 5600 strike Put, to the tune of 11.27 mn and 14.23 mn respectively.

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

Source : Equity Bulls

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