More Stories

Informist, Friday, Jun. 27, 2025

By Anjana Therese Antony

MUMBAI – Long bets were added to the derivatives chain of Jio Financial Services, which closed as the top gainer in the Nifty 50, after the company said its subsidiary got the Indian stock market regulator's approval to act as a stockbroker or a clearing member. Some derivatives analysts said a near-term correction is likely for the stock, but it will bounce back soon, as the bias towards the stock looks bullish. It has extended gains for the fourth consecutive session, rising 10% during the period. 

The arm Jio BlackRock Broking is a wholly-owned subsidiary of JioBlackRock Investment Advisers, which is a joint venture between Jio Financial Services and BlackRock Investment Advisors. Jio Financial and US-based investment management company BlackRock had formed the joint venture in July 2023 to enter India's asset management industry. The Securities and Exchange Board of India had granted the certificate of registration to Jio BlackRock Mutual Fund, a mutual fund company under the joint venture, two weeks ago. 

Following the news, the stock closed almost 4% higher at INR 323.45 Friday on the National Stock Exchange. The stock had hit an over six-month high of INR 329.30 intraday. Support for Jio Financial is seen at 300-INR 295, 7-9% lower than the spot level, and resistance at 340-INR 360, 5-11% higher than the current market price. 

Premiums on INR 325-INR 340 call options expiring Jul. 30 rose 88-118% and those on INR 325-INR 290 put options declined 39-45%. The maximum open interest addition was at INR 330 call and INR 325 put contracts. Bullish bets were also added to the July and August futures contracts of Jio Financial, with the July series closing 3.8% higher at INR 326.45, with the open interest increasing almost 4% to 85.27 million. 

Gains in Jio Financial pushed the Nifty 50 index higher by more than 9 points Thursday. The index closed 0.4% higher at 25637.80 points, extending its rise for the fourth consecutive session. It hit a fresh nine-month high of 25654.20 points during the day amid ease in crude oil prices and hopes of no further escalation in the conflict between Iran and Israel.

In the options chain of the Nifty 50, premiums on 25700-26000 call options expiring Thursday increased 14-26% and those on 25500-25000 put contracts declined 52-60%, hinting at near-term optimism. The highest addition of open interest was at 26000-point call and 25500-point put strikes. 

Among other positive indicators for the market are the rise in foreign investors' bullish positions in index futures. On Thursday, their long positions in index futures increased to 38% from about 23% Tuesday, and short positions declined to about 62% from 77%, a derivatives analyst at a domestic broking firm said. Foreign investors also made the highest single-day net purchase in the domestic market Thursday since September 2024, net buying shares worth almost INR 126 billion. 
 

--Nifty 50 Jul closed at 25757.00, up 142.00 points; 119.20-point premium to the spot index

--Nifty 50 Aug closed at 25860.00, up 134.50 points; 222.20-point premium to the spot index

--Nifty 50 Sept closed at 26019.90, up 76.80 points; 382.10-point premium to the spot index

ICICI Bank, HDFC Bank, Dixon Technologies India, Bajaj Finance, State Bank of India, Jio Financial Services, Reliance Industries, IndusInd Bank, Multi Commodity Exchange of India, Bharat Electronics, Adani Enterprises, Bajaj Finserv, Infosys, Mahindra & Mahindra, InterGlobe Aviation, Bharti Airtel, Vedanta and SBI Cards and Payment Services were the most active underlying stocks Friday.  End

US$1 = INR 85.47

Edited by  Saji George Titus

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.