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Bank Nifty trades flat; IDFC Bank top gainer

Bank Nifty index opened higher by 77 points at 24,351 level in the Monday’s trading session and is trading flat in morning trade. IDFC Bank is the top gainer in the index trading at Rs 55.65 per share, up by 0.82%. ICICI Bank, Federal Bank and Bank of Baroda were also among the top gainers in the index trading higher by over 0.5%.

Nifty PSU Bank index was trading flat at 3,324 level while Nifty Private Bank index was trading at 13,635 level, up by 36 points or 0.27%.

This is the expiry week wherein derivative contracts of August series are going to expire on August 31, 2017. On derivative front, Bank Nifty 24,500 strike of 31-August series witnessed maximum open positions with selling pressure.

Put call ratio stood at 1.13 signalling bearish undertone. Bank Nifty futures of August series was trading at premium of 13 points.

Meanwhile, Nifty was trading at 9,897 level, up by 39 points while Sensex was trading at 31,739 level, up by 143 points in morning hours on Monday. There were 1102 advances, 405 declines and 442 unchanged stocks on NSE reflecting strong positive sentiments floating in the market.