Nifty below 11,600; IndusInd Bank slips 2% - Share Market News 29.03.2019
Indices at day's low with Nifty below 11,600; IndusInd Bank slips 2%
All the sectoral indices are trading in green led by metal, energy, infra, IT, pharma and auto.
L&T announces new strategic initiative
Larsen and Toubro has announced a new strategic initiative, L&T-Nxt, to define the future of the organization from a fresh perspective. It has been identified as a select initiative in L&T's five-year strategic plan.
Market Update:
Benchmark indices erased all its early gains and trading at day's low point. At 11:03 hrs IST, the Sensex is up 39.32 points at 38585.04, while Nifty is up 15.30 points at 11585.30. About 1153 shares have advanced, 861 shares declined, and 130 shares are unchanged.
Highest Roll Spread
The Nifty is starting the new series with 16.9 million shares, which is relatively higher than the open interest seen at the inception of the last series. Continued positive momentum in the Nifty may be the reason behind fresh build up of open interest in the next series. However,
the roll spread in the Nifty inched further high and ended around 100 points. The current roll spread is one of the highest ever seen in the Nifty in points terms.
Data indicates continued rollover of long positions in the index The Bank Nifty is also starting the new series with significantly higher open interest compared to the last series. OI at inception is highest since August 2018 for Bank Nifty. The roll spread in banking index also remained high around 130 points during settlement. (Source: ICICIDirect).
All the sectoral indices are trading in green led by metal, energy, infra, IT, pharma and auto.
L&T announces new strategic initiative
Larsen and Toubro has announced a new strategic initiative, L&T-Nxt, to define the future of the organization from a fresh perspective. It has been identified as a select initiative in L&T's five-year strategic plan.
Market Update:
Benchmark indices erased all its early gains and trading at day's low point. At 11:03 hrs IST, the Sensex is up 39.32 points at 38585.04, while Nifty is up 15.30 points at 11585.30. About 1153 shares have advanced, 861 shares declined, and 130 shares are unchanged.
Highest Roll Spread
The Nifty is starting the new series with 16.9 million shares, which is relatively higher than the open interest seen at the inception of the last series. Continued positive momentum in the Nifty may be the reason behind fresh build up of open interest in the next series. However,
the roll spread in the Nifty inched further high and ended around 100 points. The current roll spread is one of the highest ever seen in the Nifty in points terms.
Data indicates continued rollover of long positions in the index The Bank Nifty is also starting the new series with significantly higher open interest compared to the last series. OI at inception is highest since August 2018 for Bank Nifty. The roll spread in banking index also remained high around 130 points during settlement. (Source: ICICIDirect).
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