DERIVATIVES MARKET
•India VIX (volatility index based on the Nifty 50 Index Option prices) rose to 21.22% on March 29 from 21.02% on March 28.
• Nifty March futures (near future) closed up against the spot index with over 15 point premium; it however witnessed 1.19 mn decrease in open interest.
• Put Call Ratio (open interest) rose to 1.63 on March 29 from 1.58 on March 28.
• Nifty 5800 March Call strike witnessed the highest open interest.
• Nifty 5400 March Put strike continued to witness the highest open interest.
INDIAN EQUITY MARKET
• Domestic benchmark indices gained around 1% on Tuesday ahead of the expiry of the March futures contracts.
• Hero Honda ended up 3% following news that the government has approved a proposal by the company’s promoter Hero Investments to receive FDI of about Rs.4500 cr from Bain Capital and Lathe Investments.
• Telecom companies gained on bargain buying with Bharti Airtel, up nearly 4%, getting an additional boost from a ratings upgrade.
• Sesa Goa, RCom and BPCL closed over 4% and were among the top Nifty gainers.
• Financial shares too ended higher with LIC Housing Finance rising around 1%.
• Among banks, Axis Bank rose 2.7%, and PNB ended up over 1%.
• Shares of large-cap as well as mid-cap companies in the IT space rose with MphasiS gaining 5% and TCS climbing nearly 2%.