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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Chemical, FMCG, Textile sectors. Nifty June Future closed at 16364.8 (down 64.45 points) at a premium of 8.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 2484 Cr and were net sellers in index futures to the tune of 734.90 Cr.

* India VIX decreased by 2.87% to close at 19.84 touching an intraday high of 20.69.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 16600, 16500, 16400 strike Calls and at 16300, 16200, 16000 strike Puts indicating that the market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17000 strike Calls and 16000 strike Puts, to the tune of 13.15mn and 12.76mn respectively.

Outlook on Nifty:

* Index is likely to open on a negative note today and is likely to remain range-bound during the day.

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