Nifty Tips
Key equity benchmark indices closed with hefty gains on expiry day. The Nifty closed at one-month high led by index heavyweights like GAIL, Tata Motors, Dr. Reddys, Axis Bank and NTPC.
The Nifty gained close to 4 percent in the April series. Midcap and smallcap stocks also performed well. Bank Nifty was the star performer with massive 12 percent gains in this series. The hopes of rate cut picked up pace after March inflation data which were announced on April 15 touched 40-month low.
However, volatility played its part in the last one hour of trade. Nifty was languishing around 5860 mark and it suddenly shot up 60 points in two minutes of the last one hour of trade. Traders who had written out of the money 5900 calls, rushed in to cover the losses.
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