Nifty closed above its all-time high of 11761 supported by FII & PRO buying in Index Options. From the start of the April month, the market was trading in a narrow range of 160 points of 11550-11710. But, on Tuesday, Nifty not only breached its monthly range of 11710 but also closed above its all-time high of 11761, making a new high of 11810.
Sectoral Analysis:
Top 5 Major performing sectors were Cement & Cement Products, Power, Energy-Oil & Gas, Automobiles and Pharma. Top 5 Minor performing sectors were Gold & Jewellery, Services, Telecom, Packaging, and Films. From the past two days, IT, Metals and Mining sectors and Gold & Jewelry sectors are gaining prominence and have risen by 1%, 2.5%, and 5% respectively.
The top gainers in the Metals & Mining sector were Prakash Industries (NS:PRKI), Jindal Saw (NS:JIND) whereas in IT- 8K Miles, Take Solutions and Tata Elxsi (NS:TTEX) tops the list and the top gainers in Gold & Jewellery sector was PC Jewellers. Some strong fundamental stocks according to us from these sectors are Cerebra Integrated Technologies, Take Solutions, Tata Elxsi and Cyient Jindal Saw Srikalahasthi Pipes, APL Apollo Tubes and Tata Metaliks.
Open Interest Analysis:
FII & PRO are the major players in the Derivatives segment and have an upper hand in the market, with their positions giving direction to the market. In the current expiry, they have started with the positions of 67472 contracts in Index option (both FII & PRO combined) when Nifty spot was trading at 11570. On 16th April they have created a long position of 64711 contracts and had Net Open Interest position of 116627 contracts in the current expiry.
The US 10 Year T-Note is trading at 122.98. The Bond has broken its important low of 120.03 on 2nd Oct 2018. The US Dollar Index is trading at 96.688.\
Sector Performance as on 16th April
Small Cap Gainers as on 16th April:
Large Cap Gainers and Losers as on 16th April:
Mid cap Gainers and Losers as on 16th April:
FII+PRO in combined have bought 49155 contracts in the index options in the current expiry.
Cash Market Data:
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