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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Metals, Banking, Pharma sectors. Nifty Sep Future closed at 17603.10 (down 8.10 points) at a premium of 8.10 pts to spot.

* FIIs were net buyers in Cash to the tune of 1552.59 Cr and were net buyers in index futures to the tune of 2067.06 Cr.

* India VIX increased by 5.68% to close at 15.23 touching an intraday high of 15.65.

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 18000, 17800, 17700 strike Puts and at 17800, 17900, 18000 strike Calls indicating market is likely to remain positive in the near term.

* Highest OI build-up is seen at 18000 strike Call and 17000 strike Put, to the tune of 7.89mn and 9.13mn 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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