Derivatives summary for Traders: Bajaj Finance, Bajaj Finserv, ICICI Bank, BPCL in focus

Nifty December futures closed at a premium of 17.10 points versus a premium of 13.45 points. The market added Rs 18663 cr in open interest, taking the total open interest in the F&O segment to Rs 536900 cr. The Nifty call option added 12.33 lakh shares in open interest and the put option added 60.78 lakh shares in open interest. SGX Nifty is trading at 13645 up by 60 points today morning.

GMRINFRA (15%) POWERGRID (13%), IGL (11%), SIEMENS (10%) CADILAHC (10%) and NTPC (9%) were the top gainers in terms of open interest. CANBK (-18), TORNTPHARM (-10%), GODREJPROP (-8%) and SBILIFE (-6%) and M&MFIN (-6%) were the top losers in terms of open interest. Overall futures & options volumes currently stand at 242.99 lakh contracts, with a turnover of Rs 2105350 cr. Volumes in the F&O segment were higher as compared to the previous trading session.

Market commentary:

In Yesterday’s trade, the benchmark indices opened in negative territory in line with negative cues from global markets. The Nifty continued its negative trend and made a low at around 13454 levels. In the afternoon session, the Nifty made a smart recovery due to buying in Financial Services and Auto stocks. Stocks like BAJAJ FINANCE, BAJAJFINSV, EICHERMOT, JSWSTEEL and SHREECEM were top gainers that rose by 2-3%, while stocks like HINDUNILVR, NESTLE INDIA, BPCL and ICICIBANK were top losers that fell by 1-2%. The Nifty closed at around 13585 levels with a gain of 0.10%.

Daily view:

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About 0.36 lakh shares were shed in open interest with an increase in prices this indicates that short covering was observed by market participants. On the options front, the volatility index decreased by 0.29%.