For Traders: Derivatives summary - Smart Recovery in the end yesterday

Nifty December futures closed yesterday at a premium of 48.70 points versus a premium of 34.35. The market added Rs 21166 cr in open interest, taking the total open interest in the F&O segment to Rs 460246 cr. The Nifty call option added 411.80 lakh shares in open interest and the put option added 23.81 shares in open interest. INFRATEL (35%) HDFCLIFE (22%), NATIONALUM (21%), CANKBK (18%) SUNTV (18%) and TATACHEM (17%) were the top gainers in terms of open interest. GAIL (-19), BANKBARODA (-9%), LICHSGFIN (-8%) and PAGEIND (-6%) and ICICIPRULI (-6%) were the top losers in terms of open interest. Overall futures & options volumes currently stand at 346.87 lakh contracts, with a turnover of Rs 2898440 cr. Volumes in F&O were higher as compared to the previous trading session.

Market commentary:

Yesterday, Benchmark indices opened on a muted note in line with the global markets. Thereafter, the Nifty made a high around 13177 levels in early hours of trade. Benchmark indices went in negative zone due to selling in banking and financial stocks. Nifty metal and reality stocks closed in the green zone while Nifty banking and financial indices were the top losers. Post lunch, the Nifty recovered around 150 points from day’s low points due to buying at lower levels. Stocks like GAIL, ONGC, ASIANPAINT, COALINDIA and TITAN were top gainers gaining around 3-4% while stocks like KOTAKBANK, HDFCBANK, HDFC, SHREECEM and ICICIBANK were the top losers losing around 1-2%. Nifty closed yesterday around 13148 levels with gain of 0.04%.

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Daily view:

About 2.04 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 increased by 0.30%.