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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Metals, FMCG, Finance sectors. Nifty Aug Future closed at 16559.40 (up 42.10 points) at a discount of 3.60 pts to spot.

* FIIs were net sellers in Cash to the tune of 1088.32 Cr and were net sellers in index futures to the tune of 332.33 Cr.

* India VIX increased by 3.59% to close at 13.46 touching an intraday high of 13.66.

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 16800, 16600, 16500 strike Puts and at 16600, 16700, 16900, 17000 strike Calls indicating bullish undertone in the market in the near term.

* Highest OI build-up is seen at 17000 strike Call and 16500 strike Put, to the tune of 7.94mn and 10.44mn respectively.

Outlook on Nifty:

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

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