Optimism returned on Dalal Street after the benchmark Sensex registered its second biggest gain. Short-covering ahead of F&O expiry on Thursday also aided the indices to rebound. Rally in the global markets and buying by FIIs lifted the benchmark Sensex over 5%. As per the provisional figures, FIIs bought over Rs1,200cr yesterday.
The Nifty futures for April series have added a good chunk of shares in open interest and are trading at a premium to the spot Nifty. The put-call ratio seems to have improved in favour of the bulls with strong build up in 4800 puts and 5000 calls.
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