Indian Markets closed down on Tuesday - Nirmal Bang

Indian markets lost over 2 % yesterday on intraday basis, but managed to cut 50 % of losses in last couple of hours of trade. Rate sensitive were hit quite badly with the BSE Realty and Bankex falling nearly 6 % and 5 %, respectively. Capital Goods and Metal indices declined around 2 %, but FMCG, power and oil & gas stocks outperformed.

The Nifty Future closed over a % in red at 5969.7 (down 62.9pts) deleting OI to the tune of 1.27mn.

FIIs were net sellers in cash as well as Index Futures to the tune of 357.4Cr and 264.8Cr respectively.

India VIX increased by 1.06% to close at 18.99 touching an intra-day high of 19.80.

Addition in put OI build up at 5800 level as well as Call addition at 6000, 6100 and 6200 suggests a range bound scenario in the markets.

Highest OI build-up is seen at 6000 Call and 5800 strike Put, to the tune of 8.42 and 10.76mn respectively.

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

Source : Equity Bulls

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