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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Cement, FMCG sectors. Nifty Sep Future closed at 17708. (down 40.20 points) at a discount of 3.30 pts to spot.

* FIIs were net sellers in Cash to the tune of 1896 Cr and were net sellers in index futures to the tune of 1572.11 Cr.

* India VIX increased by 1.63% to close at 18.84 touching an intraday high of 19.44.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Additions in OI were seen in 17700, 17600 strike Puts and at 18000, 17800, 17700 strike Calls indicating market is likely to remain range bound during the day.

* Highest OI build-up is seen at 18000 strike Call and 17000 strike Put, to the tune of 13.49mn and 11.00mn respectively.

Outlook on Nifty:

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

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