For Trades: Derivatives Summary Analysis, Bulls bounce back

Nifty December futures closed at a premium of 35.55 points versus premium of 0.75 points. The market added Rs 78380 cr in open interest, taking the total open interest in the F&O segment to Rs 319656 crore. The Nifty call option added 119.63 lakh shares in open interest and the put option added 125.86 shares in open interest.

BATAINDIA (62%), SBILIFE (55%), IGL (54%) HDFCLIFE (47%) and SHREECEM (43%) were the top gainers in terms of open interest. CANBK (-11), SAIL(-6%), RBLBANK (-2%) and IBULHSGFIN (-1%) were top losers in terms of open interest. Overall futures & options volumes currently stand at 902.89 lakh contracts with a turnover of Rs.7257499 cr. Volumes in the F&O segment were higher as compared to the previous trading session.

Market commentary:

On November 26, 2020, the benchmark indices opened on a flat to positive zone in line with positive cues from global markets. Further, the Nifty was unable to hold early gain and declined. However, in the afternoon, taking positive cues from the European market it bounced back quite sharply. Almost all sectoral indices closed in the positive zone ranging from 1-2%.

Large cap Stocks like JSWSTEEL, TATASTEEL, GRASIM, HINDALCO and SHREECEM were top gainers that rose by 3-6% while bluechip stocks like EICHER MOTORS, BPCL, MARUTI, ONGC and HDFCLIFE were top losers that fell by 1-2%. Finally with all the whipsaw Nifty ended the last trading session of November series on a positive note at around 12987 levels, with a significant gain of 1%.

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Daily view:

About 28.90 lakh shares were shed in open interest with an increase in prices this indicates that long build-up was observed by market participants. On the options front, the volatility index decreased by 14%.