The week gone by brought a lot of joy and cheer to overall market as well as the beaten down names. After first three gaining sessions this week there was a bit of hiccup but Nifty maintained the gains and ended the week with over 5% gains.
Bank Nifty on the other hand, went through rather sharper moves than Nifty. The digestive dip towards the weekend was a bit to deeper than Nifty. However, the sharper moves contributed to better returns for the week for Bank Nifty than Nifty rising close to 10% for the week.
Story on the Open Interest (OI) front kind of explains the reasons for the difference in magnitude of the moves in both the indices. Nifty where the OI remained fairly low for last few weeks. Hence, coming out of consolidation it got filled with fresh additions. A series of longs and long winding kept the move a bit humble.