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Informist, Thursday, Mar. 12, 2026

By Gopika Balasubramanium

MUMBAI – Keeping in mind the volatility in equity markets across the globe due to high crude oil prices induced by the military hostilities between the US and Iran, domestic traders continued to sell call contracts across board and bought immediate out-of-the-money put contracts during day's session. Some derivatives analysts pointed out traders buying puts options near the spot and selling deep out-of-the-money put contracts as a hedge against volatility. 

The Nifty 50 closed at 23639.15 points, down 227.70 points, or 1%. The index currently is down over 10% from the record high hit in early January. Technical analysts expect the 50-stock index to find support at 23400-23200 points and face resistance at 23850 points. 

Traders sold immediate out-of-the-money call contracts at 23700-23800 strikes and their premiums fell 43-47%. This indicates heightened selling pressure near the spot and levels immediately above it. The highest concentration of call contracts was at 25000. The maximum addition of open interest in call was seen at 23700, followed by strike prices 24800 and 23800.  

Meanwhile, traders bought immediate out-of-the-money put contracts and sold far out-of-the-money put options likely hedging. Traders buy put options near the spot to take advantage of immediate fall in the market and sell far options to take advantage of the fall in value of options contracts as it nears expiry, said Vipin Kumaar, assistant vice-president – technical and derivatives at Global Capital Market. 

Options traders bought put contracts at strikes such as 23300-23750 while they sold put options of strikes 21500, 21450, and 22000 put. The highest concentration and maximum addition of open interest was at 21500 put.               

--Nifty 50 March closed at 23718.00, down 221.10 points; 78.85-point premium to the spot index

--Nifty 50 April closed at 23884.40, down 218.10 points; 244.85-point premium to the spot index

--Nifty 50 May closed at 24010.00, down 221.20 points; 370.85-point premium to the spot index

Reliance Industries, ICICI Bank, HDFC Bank, State Bank of India, Coal India, National Aluminium Co., Infosys, Tata Power, Eternal, Dixon Technologies (India), Larsen & Toubro, Axis Bank, IndusInd Bank, Bharti Airtel, NTPC, Mahindra & Mahindra, and Bajaj Finance were the most actively traded underlying stocks Thursday.  End

US$1 = INR 92.19

Edited by Deepshikha Bhardwaj

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