Like other global central banks, our FM made some announcements today regarding relaxation on regulatory rules and hinted for a stimulus package to combat against the deadly virus, which helped Indian benchmark indices to recover at the end of the closing session. At close, the Sensex was up 692.79 points or 2.67% at 26,674.03, while Nifty was up 190.80 points or 2.51% at 7,801.05. Overall market breadth was negative as 799 shares are advanced only and 987 shares are declines and 324 shares remained unchanged. Among sectoral indices all are ended in green except Nifty Realty shares. India VIX, which measures the implied volatility of Nifty 50 options, was up by 13.82% at 81.94.
According to weekly option derivative diaries, maximum Call Unwinding open interest of 11.54 lakh contracts was seen at the 8,000 strike price, which will act as a crucial resistance level for next trading session. However, Put Writing open interest seen at 7,800 strike price with 5.42 lakh contracts, which will act as a strong support.