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Informist, Friday, Jun. 13, 2025

By Anshul Choudhary

MUMBAI – Sentiments in the derivative market turned negative Friday as crude oil prices surged after Israel attacked Iran. Traders rushed to add short positions and cut long positions as the Nifty 50 slumped as soon as the market opened.

Global markets saw a sell-off after Israel attacked several regions in Iran, targeting nuclear facilities. Crude oil August futures surged over 13% in the morning to an over four-month high of $78.50 per barrel. "This surge (in crude oil) raises concerns about inflation and increased input costs for businesses, particularly in energy-intensive sectors," Vinit Bolinjkar, head of research at Ventura Securities, said in a note.

Crude oil prices have come off highs and were up 4% at $74.43 per barrel at 1534 IST. As crude oil prices came off their highs, selling in Indian markets also eased slightly. The Nifty 50 closed 0.7% lower at 24718.60 points, partially recovering from a fall of 1.7% at open.

However, the sharp fall in the Nifty 50 still pushed traders to sell call option contracts expiring next week. The highest open interest addition was at 25000 call options, which suggests the Nifty 50 is expected to face resistance at 25000 points. Significant open interest addition was also seen 25500-25700 strike prices. At the same time, some buying was seen at deep out-of-the-money call options above 26250 strike prices.

Traders also bought put options across the board, with the highest open interest addition at 22800 strike prices. Significant open interest addition was seen at 23000, 23500, and 24500 strike prices, indicating bearish sentiment. Options data show the Nifty 50 may find support at 24500 points.

Futures data also shows traders added short positions with June contracts down nearly 1% and open interest up over 8% to 12.33 million. Nifty 50 June contract closed at a premium of 17.60 points to the spot index.

--Nifty 50 Jun closed at 24736.20, down 201.20 points; 17.60-point premium to the spot index

--Nifty 50 Jul closed at 24871.70, down 197.00 points; 153.10-point premium to the spot index

--Nifty 50 Aug closed at 24993.90, down 175.70 points; 275.30-point premium to the spot index

HDFC Bank, Reliance Industries, InterGlobe Aviation, Bharat Electronics, ICICI Bank, Hindustan Aeronautics, BSE, Bajaj Finance, Infosys, State Bank of India, Oil and Natural Gas Corp., Bharti Airtel, Larsen & Toubro, Kotak Mahindra Bank, and Tata Motors were the most active underlying stocks Friday.  End

Edited by Saji George Titus

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