The 50-share NSE Nifty has extended gains at 14:35 hours, with the trading above the 5900 level on the back support from all major sectors like oil & gas, capital goods, financial, technology and auto. The Sensex too gained nearly 300 points.
Volume was low for the second consecutive day in the April series but the put-call ratio went up to 1.45 from 1.33. The Nifty April futures were trading at 37 points premium.
Nifty 5900 Put has added 15 lakh shares in open interest, suggests put writing which was positive indicator. Nifty 6100 call added 2.5 lakh shares in open interest.
The rally was despite rising crude oil prices in international market and quiet European markets. London Brent crude was trading at USD 119.7 a barrel.
About eight shares advanced as against one share declined on the National Stock Exchange. The Nifty rallied 59 points to 5,915 and theSensex surged 296 points to 19,717.
Largecaps like TCS, Infosys, HDFC Bank, BHEL and L&T moved up 2-3%. Reliance Industries, ONGC, SBI, ICICI Bank, ITC, Wipro and Bharti Airtel gained 1-1.5%.
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