Nifty Manages to Hold 8500. Banks Fall on Asset Quality Concerns!

Nifty opened negatively and consolidated till 12 noon and then closed lower at 8510 with a loss of 56 points.

In the cash segment Foreign institutional investors (FIIs) were buyers to the tune of Rs 420 crores and Domestic institutional investors (DIIs) were net sellers to the tune of Rs 372 crores.

In FNO segment, FIIs bought 8,435 contracts of Index Futures and 9,136 contracts of Index calls.
They also bought 6,324 contracts of Index puts.
DIIs are net short by 16,653 in Index Futures contracts.

Nifty Put Call Ratio (PCR) data shows support at 8500, 8400 and Resistance at 8600.