Market update … smart recovery in the market …India Vix below 50
· Stocks rose in a volatile trading session, as investors mulled the outlook for company earnings after software services provider Wipro Ltd. declined to provide guidance for the first time since 2009.
· The S&P BSE Sensex advanced 0.8% to 30,618 after swinging between a loss of as much as 1.2% and a gain of as much as 1%. Auto, Banking, NBFC, Metal recovered smartly from the intra-day low.
· The rupee weakened 0.4% to 76.7825 per U.S. dollar after touching 76.82, an all-time low. The 10-year bond yield rose two basis points to 6.44%.
· Wipro options volume 8.9x the 20-day average, with 3,742 calls changing hands vs 5,230 puts, Stock down 0.4%, volume 1.9x the 20-day average for this time of day.
· UPL options volume 2.4x the average, with 3,001 calls vs 408 puts, Stock up 3.7%, volume 1.3x the average.
· HCL Tech options volume 1.9x the average, with 656 calls vs 712 puts, Stock down 2.7%, volume 0.8x the average.
· Tata Consultancy options volume 1.8x the average, with 10,116 calls vs 12,052 puts, Stock up 0.7%, volume 0.6x the average.
· Titan Co options volume 1.8x the average, with 1,709 calls vs 2,644 puts, Stock up 1.4%, volume 0.9x the average.
· Nifty 50 options volume 3.4x the average, with 3.64 million calls vs 3.4 million puts; gauge up 1%, Cost of hedging as measured by the 90/110, one-month skew ranks in the 91st percentile over the past year
Nifty Bank index options volume 9x the average, with 8.09 million calls vs 6.46 million puts; gauge up 0.8%. 90/110, one-month skew in the 52nd percentile.
· India VIX Index down 4.6% at 47.8
