Nifty Experiences Rebound but Ends with Significant Loss

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Nifty experiences rebound but ends with significant loss

The Nifty started the trading day with a rebound, but as the session progressed, intensified selling pressure caused a decline in the latter half. As a result, the Nifty settled near its daily low, registering a significant loss of 1.10 percent.

Nifty Midcap 100 index underperforms compared to Nifty 50

Today, the Nifty Midcap 100 index demonstrated weaker performance compared to the Nifty 50 index, closing with a substantial loss of 1.57 percent.

Sector performance and market sentiment

Among a range of sectors, energy and metals stood out as top performers, exhibiting strength. On the other hand, media and PSU banks lagged behind, facing hurdles and displaying weaker performance throughout the trading session.

The options market indicates that the highest open interest on the call side is at the 22700 level, while on the put side, it’s at 22000. Looking at today’s option chain, we observe a greater amount of call writing activity compared to put writing, signaling a bearish sentiment in the market.

The volume weighted average price (VWAP) suggests a trading range for the next day between 22215 and 22460. The max pain is seen at the 22400 spot with the combined residual premium/pain value of 346.54 crores.

In the cash market, foreign institutional investors (FIIs) were net sellers with an activity totaling 3268.00 crore, while domestic institutional investors (DIIs) exhibited a net buying activity of 4762.93 crore.

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