Nifty bounces back from days low; Tata Chemicals CE strikes witness unusual activity

Indian markets inched higher from their worst levels of the day but continued to trade in red on Thursday. Nifty and Sensex registered a loss of nearly half a per cent. Besides, the broader indices displayed a mixed trend with Nifty Small-cap adding 0.31 per cent whereas Nifty Mid-cap shedding 0.27 per cent.   

Barring Nifty PSU Bank, Nifty Media and Nifty FMCG, all other Nifty sectoral indices were in red with Nifty Metal and Nifty Auto being the top losers.   

Going forward, the level of 15,000 is a key level for the index as the highest put open interest accumulation remains at 15,000. Today, around noon, the maximum addition of open interest was spotted at 15,000 put options with over 20 lakh open interest being added. So, all eyes would be on the 15,000 levels.   

Talking about the stock-specific action, in Nifty 500, almost ten stocks have touched their all-time high level in today’s session including CGCL, CDSL, Poly Medicure, Carborundum Universal, and Jubilant FoodWorks. Meanwhile, the stock of Unichem Laboratories has surged nearly 7 per cent today and recorded more than 30-day average volumes. The company has released a press release pertaining to the receipt of ANDA approval from United States Food & Drug Administration (USFDA) for Unichem’s Apremilast tablets, 10 mg, 20 mg & 30 mg.  

Stocks from the consumer food industry were also seen buzzing as Hindustan Foods jumped nearly 10 per cent while Tasty Bite Eatables soared 2.5 per cent.   

On the stock options’ front, unusual activity was seen in Tata Chemicals CE strikes. The 660-call option price has increased a staggering 170 per cent along with a four-fold change in the open interest. Further, multiple strikes between 600 and 640 call options have more than doubled.