Nifty futures opened positive with gap, traded in the narrow range of 40 points in the first half of trading but rally in last hour of trading dragged up it above 5200 level.

Nifty spot closed at 5199.25 up by 111.95 points.

Bank Nifty closed at 9919.45 up by 382.35 points.

CNX IT closed at 6193.85 up by 90.05 points.

Nifty Feb futures closed at 24.10 points premium.    

Nifty heavyweight stocks such as ICICIBANK, TATASTEEL, TATAMOTORS and SBIN   witnessed long build-up.

Volatility India index VIX closed at 22.66 down by 3.41%; PCR (Volume) is at 0.89

Nifty Feb 5000 - 5200 Put strikes witnessed short build-up; Nifty Feb 5300 – 5500 Call strikes witnessed long build-up.

Banking sector witnessed long build-up as stocks AXISBANK, HDFCBANK, ICICIBANK, KOTAKBANK, BANKBARODA, SYNDIBANK and SBIN were up by 5.7%, 3.1%, 5.9%, 4%, 3.2%, 3.9% and 3.8% respectively.

Finance sector was up by 3.7% as stocks IDFC, IFCI, INDIAINFO, PFC, RELCAPITAL and SREINFRA were up in the range of 3% of 6.5%.

Infrastructure sector led by GMRINFRA, GVKPIL, HCC, IRB, IVRCLINFRA, LITL, NCC and PATELENG was up by 5.6%.

Banking, Capital Goods, Cement, FMCG and Realty sectors witnessed maximum OI activity.