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Informist, Monday, Apr. 13, 2026

 

By Simran Rede

 

MUMBAI – Put option premiums across strike prices, expiring Apr. 21, rose Monday after the Nifty 50 fell below its immediate support of 24000 points. Fresh short bets were placed in 23000-22500 strike put contracts, indicating bearishness in the market. Traders also sold call options at 24000-25000 strikes. 

 

The 50-stock index opened sharply lower Monday as crude oil prices jumped above $100 per barrel after US-Iran peace talks held in Pakistan over the weekend broke down, and the US Navy moved to block the Strait of Hormuz. Eventually, the Nifty 50 ended 0.9% lower at 23842.65 points and the BSE Sensex closed 0.9% lower at 76847.57 points. 

 

The escalating global energy crisis and uncertainty about an end to the West Asia war has kept market sentiment subdued. Moreover, persistent selling by foreign portfolio investors has weighed on the overall market, according to analysts. Currently, FPIs have 25% short positions in the index, Jatin Gedia, vice-president of technical research at Teji Mandi Investment Technologies, said.

 

Despite the recent correction in the market, analysts and fund managers believe the Indian equity market still continues to be highly valued. Foreign investors are parking their money in comparatively cheaper markets such as China, Taiwan, and South Korea. "Midcaps are still trading at moderately rich valuations and are hence less preferred compared to large caps and small caps," Vinay Paharia, chief investment officer at PGIM India Mutual Fund, said in a note.

 

On the macroeconomic front, India's headline inflation, based on the Consumer Price Index, rose to a 12-month high of 3.40% in March from 3.21% in February due to higher food inflation, data released Monday by the statistics ministry showed. This was in line with expectations. Core inflation, which excludes food and fuel items, eased to 3.3% in March from 3.4% in February.

 

The 23000 strike price of put options, expiring next week, had the highest net change in open interest on Monday with 2.47 million new positions being added. The premium on the contract rose over 47% to INR 69. Additionally, some aggressive call options selling was seen at the 25000, 24500, and 24000 strike prices. The 25000 strike had the highest open interest addition among call contracts, with its premium falling nearly 68%.

 

The April futures contract of the Nifty 50 Monday closed at a premium of just 7.35 points to the spot index. Open interest in the contract rose 3% to 19.13 million, according to provisional data. The contract ended over 1% lower at 23850 points. Traders also added some fresh bearish positions in the next futures series expiring in May and June. 

 

Going forward, the Nifty 50's fall below 23500-23000 will derail any positive momentum, derivatives and technical analysts said. On the higher side, 24100 points will open further upside towards 24300-24700 points in the coming sessions, they added.

 

--Nifty 50 April closed at 23850.00, down 251.00 points; 7.35-point premium to the spot index

--Nifty 50 May closed at 23990.00, down 226.90 points; 147.35-point premium to the spot index

--Nifty 50 June closed at 24152.50, down 217.70 points; 309.85-point premium to the spot index

 

ICICI Bank, HDFC Bank, Reliance Industries, Multi Commodity Exchange of India, Infosys, State Bank of India, Maruti Suzuki India, Larsen & Toubro, Bharat Heavy Electricals, BSE, Axis Bank, Tata Power Co., Kotak Mahindra Bank, National Aluminium Co., Hindalco Industries, Adani Enterprises, and Bharti Airtel were the most actively traded underlying stocks Monday.  End

 

Edited by Avishek Dutta

 

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