For Traders: Derivatives summary, NSE Nifty takes a plunge

NSE Nifty November futures closed at a premium of 0.75 points versus premium of 7.30 points. The market added Rs 7460 cr in open interest, taking the total open interest in the F&O segment to Rs. 5,08,700 crore. The Nifty call option added 170.38 lakh shares in open interest and the put option shed 64.42 shares in open interest. IBULHSGFIN (35%), BANKBARODA (33%), BALKRISIND (14%) MUTHOOTFIN (10%) and CANBK (7%) were the top gainers in terms of open interest. AMRAJABAT (-24), CUMMISIND (-20%), SRTRANSFIN (-15%), GAIL (-14%) and IGL (-13%) were the top losers in terms of open interest. Overall futures & options volumes currently stand at 472.04 lakh contracts, with a turnover of Rs 3891690 cr. Volumes in the F&O segment were higher as compared to the previous trading session.

Market commentary:

On November 25, 2020, benchmark indices opened in the green in line with positive cues from global markets. However, the Nifty didn’t hold early gains and fell due to selling pressure in large-cap stocks. Almost all sectoral indices fell by 1-2%. Stocks like ONGC, GAIL, ADANI PORTS, SBI LIFE and COAL INDIA were top gainers that rose by 1-2%, while stocks like EICHER MOTORS, AXISBANK, KOTAKBANK, SUNPHARMA and BAJAJ FINANCE were top losers that fell by 2-3%. The Nifty closed at around 12857 levels with a loss of 1.58%.

Daily view:

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About 3.81 lakh shares were shed in open interest with a decrease in prices this indicates that long unwinding was observed by market participants. On the options front, the volatility index increased by 9.92%.