Ahead of its results on Friday, Infosys was in great demand on Thursday in the derivative and cash segments. Over 10 lakh shares were added in open interest in January futures contract that helped the IT bellwether close above the ₹1,000-mark at ₹1,003.95. The underlying stock gained 3.20 per cent at ₹1,000.05 with 59.27 lakh shares changing hands. Of that, almost 75 per cent were deliverable quantity.

In fact, the counter has been witnessing value buying in the last few days. The deliverable quantity with respect to the total shares increased 75-80 per cent in the last few days as against around 60-70 per cent in December.

Higher per cent of deliverable quantity along with rise in share price generally indicates bullishness.

On the BSE, 2.62 lakh shares were traded , which is lower than the two-week average of 3.34 lakh shares. Deliverable quantity on the BSE stood at 51.27 per cent.

Options trading trend suggests that Infosys could move in the ₹900-1,100 range. Call options saw heavy build up in the 1,020 and 1,080 strikes while among the puts 940-strike saw heavy accumulation on Thursday.

Analysts expect Infosys to report a marginal decline sequentially in consolidated net profit while sales are expected to remain flat on seasonal weakness and RBS’ contract cancellation.

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