European equity markets shrugged off the outcome of Italy's referendum, and their resilience gave strength to Asian peers, including Indian equities.
On Monday, the NSE Nifty 50 gained 0.5 percent to close at 8,128. The index's December futures open interest declined 1.4 percent, indicating short covering. The Nifty Bank Index gained 0.8 percent and its futures open interest rose 0.8 percent to show a small addition of long positions.
Foreign institutional investors sold index futures worth Rs 179 crore on a net basis.
The India Volatility Index (or VIX) declined by 3.6 percent to close at 17.3 as option premiums contracted following gains in the main indices.
The 8,100 call and the 8,100 put saw most activity with maximum open interest remaining with 8,300 call and the 8,000 put. This indicates the near-term range for the Nifty.
FIIs bought 6,488 index puts against 1,606 index calls on a net basis, showing near-term bearishness.
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