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Informist, Thursday, Jun. 11, 2026

 

By Simran Rede

 

MUMBAI – As the Nifty 50 moved in a tight range during a volatile session Thursday, traders added cautious bets in the derivatives chain of the index. Analysts expect the Nifty 50 to be range-bound on Friday unless a major development in West Asia affects sentiment. A fall in oil prices despite escalation in the West Asia war kept investor sentiment cautious, pushing traders to sell options across the board.

 

Earlier in the day, crude oil prices had risen after fresh attacks on Iran by the US overnight. A missile attack by the US on an oil tanker near Oman on Wednesday killed three Indian sailors, BBC reported. 

 

During the session Thursday, crude oil prices dropped, following which traders started buying call options and sold put contracts of the Nifty 50 derivatives. The index rose gradually during the session, paring its initial losses, but ended in the red. Analysts say there was sentimental selling in the index after sharp selling was seen in the broader market. 

 

A fall in information technology companies dragged down the benchmark index. However, gains in most index heavyweights such as ICICI Bank, Reliance Industries, Bharti Airtel, and Kotak Mahindra Bank limited the fall. The market saw a swing from losses to gains and again to losses Thursday due to expiry of the derivatives contract of the BSE Sensex, analysts said.

 

"Banking and pharma stocks attracted buying interest, supported by resilient earnings, favourable RBI measures, and a shift toward defensive sectors," Vinod Nair, head of research at Geojit Investments, said in a note. "In contrast, mid- and small-caps saw profit-booking after their recent outperformance, indicating signs of near-term consolidation. IT stocks also lagged amid concerns that stronger US inflation could delay interest rate cuts and keep global financial conditions tight," he added. 

 

Options data shows the Nifty 50 is likely to move in a 100-300-point range Friday, as stated by most technical and derivatives analysts. The highest number of contracts sold was at the 23600 call and 22300 put, indicating range-bound movement. Over 3 million contracts of both these strikes were sold. Premium on the 23600 call fell 46% while that on the 22300 put fell 39%.

 

The highest open interest concentration was at the 24000 strike call and on the put side, it was concentrated at the 21200 strike. Traders also added some shorts in the futures contract of the Nifty 50. Open interest in the June futures contract rose 0.2% to 19.18 million, with the contract closing 0.1% lower at 23227.90. It closed at a premium of 66.30 points.

 

--Nifty 50 June closed at 23227.90, down 12.20 points; 66.30-point premium to the spot index

--Nifty 50 July closed at 23320.00, down 24.90 points; 158.40-point premium to the spot index

--Nifty 50 August closed at 23439.10, down 8.30 points; 277.50-point premium to the spot index

 

ICICI Bank, HDFC Bank, Reliance Industries, Axis Bank, Infosys, State Bank of India, Vodafone Idea, Tata Consultancy Services, BSE, Bank of Baroda, Multi Commodity Exchange of India, and Mahindra & Mahindra were the most actively traded underlying stocks Wednesday.  End

 

Edited by Avishek Dutta

 

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