Indian Markets end up by more than 1% on expiry day - Nirmal Bang

Indian markets ended up more than 1% on last day of expiry yesterday. The markets maintained the positive momentum in the April series expiry on account of optimism regarding monetary policy rate cut by RBI. The RBI is going to announce annual monetary policy on 3rd May. The markets gained around 4% in the April series with Bank Nifty being the star performer with 12% gains.

Overseas, Dow closed marginally positive at 14,700.80 (up 24.50pts). The European markets closed positive with FTSE & DAX up 0.17%& 0.94% respectively.

FIIs were net buyers in cash as well as in Index Future to the tune of Rs 1449.7Cr & 3716.2Cr respectively.

India VIX decreased by 5.77% to close at days high 14.20 touching an intra-day high of 15.07.

Additions in put OI build up at 5900 & 5800 level suggest continuation of bullish undertone in the markets.

Highest OI build-up is seen at 5900 Call and 5700 strike Put, to the tune of 4.78 mn and 5.52 mn respectively.

Markets are likely to open marginally positive following the mix global cues and are likely to remain range bound during the day.

Source : Equity Bulls

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