Short covering was the one reason behind today's rally. The Nifty April Futures shut shop at 5874 with 6% addition in open interest.Nifty futures ended with 22 points premium. Nifty 5800 Call was the most active call in today's trade on back of short covering. Strike prices from 5600 to 6000 call saw shedding of open interest. On the other hand, Nifty 5800 Put saw 43% addition in open interest. The volatility indicator, India VIX was down 5% at 20.99, a positive sign.
The Sensex, which had gained 31 points in the previous session, spurt 349.15 points to close the day at 19,470.98.
Major market supporters were HDFC Bank, ICICI Bank, Tata Power, Tata Steel, Bajaj Auto and BHRL on increased buying by investors at lower levels.
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