Negative sentiments seems washed off after fiscal announcements from FM on previous trading sessions. On the other hand, global equity markets are in rebound mode after after the Fed announcement of a massive asset purchase program provided cushion to investor's sentiments. At close, the Sensex was up 1,861.75 points or 6.98% at 28,535.78, and the Nifty was up 516.80 points or 6.62% at 8,317.85. Overall market breadth was in favour of buyers as 1063 shares are advanced only and 703 shares are declines and 349 shares remained unchanged. All the sectoral indices ended in the green. India VIX, which measures the implied volatility of Nifty 50 options, was down by 7.94% at 76.96.
According to weekly option derivative diaries, maximum Call writing open interest of 14.32 lakh contracts was seen at the 8,500 strike price, which will act as a crucial resistance level for next trading session. However, Put Writing open interest seen at 8,100 strike price with 11.49 lakh contracts, which will act as a strong support.