Indian equity markets remained calm and positive after the Reserve Bank of India reduced key interest rates on Tuesday. The Nifty 50 Index gained 0.4 percent with a premium of over 30 points between the spot price and the price of October futures, indicating positive sentiment. Its futures saw fresh long positions with an addition of 1 percent in open interest.
The Nifty Bank index gained 0.6 percent and also saw fresh buying with open interest in the October contracts also gaining 1.3 percent. Foreign institutional investors bought index futures worth Rs 347 crores on a net basis. They continue to hold 86 percent long positions in index futures.
The India Volatility Index fell 4 percent to 14.99. Large amounts of writing were noticed in the 8,800 put (+7.3 lakh shares) and the 8,700 put (+6.7 lakh shares).
The 9,000 call and the 8,600 put continued to hold maximum open interest. FIIs bought 8,522 index call contracts against buying of 7,201 index call contracts on net basis
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