Market Out Look
The BSE Sensex lost 56.77 points or 0.27% to settle at 20,875.71 while the S&P CNX Nifty declined 26.10 points or 0.41% to end at 6,275.45 The BSE Sensex touched a high and a low of 20,970.91 and 20,849.92 respectively. There were 12 advances against 18 declines on the index.
The 50-share S&P CNX Nifty settled at 6,275.70, after losing 25.85 points or 0.41%. Nifty November futures saw an addition of 8.76% or 2.19 million (mn) units, taking the total outstanding open interest (OI) to 27.25 mn units. For Nifty calls, 6300 strike price (SP) from the November series was the most active call with an addition of 0.61 mn or 12.01%. Among Nifty puts, 6300 SP from the November month expiry was the most active put with an addition of 0.85 mn or 18.50%.
The maximum Call OI outstanding was at 6300 SP (5.75 mn) and that for Puts at 6300 SP (5.50 mn).The respective Support and Resistance levels are: Resistance 6,299.15 Pivot Point 6,284.20 Support 6,260.75.The Nifty Put Call Ratio (PCR) OI wise stood at 1.48 for November-month contracts.
M&M up 3.25%, Tata Motors up 2.25%, Wipro up 0.88%, Infosys up 0.82%, and ONGC up 0.62% were the major gainers on the Sensex. On the other hand, Bharti Airtel down 1.96%, SBI down 1.89%, Cipla down 1.80%, Hindalco down 1.66% and BHEL down 1.46% were the major laggards on the index.