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Informist, Tuesday, Aug. 11, 2026

 

MUMBAI – Traders added fresh short positions on the options chain of the Nifty 50 index after new conditions set by the US and Iran lowered the prospects of a deal to reopen the Strait of Hormuz, sending crude oil prices soaring. As premiums on out-of-the-money put contracts marked for expiry Aug. 18 rose significantly, some sellers rolled their positions down and out. Despite Tuesday's session being tilted in favour of the bears, heavy open interest near Nifty 50's closing level suggests the headline index is likely to consolidate in the near term.

 

On Tuesday, the Nifty 50 ended 0.5% lower from Monday at 24471.70 points. Stocks of fast-moving consumer goods companies, hospitals, and metal and mining companies ended sharply lower. Hospital stocks such as Apollo Hospitals Enterprise and Max Healthcare Institute ended lower after the parliamentary committee on health and family welfare recommended capping hospital room rents and formulating fixed package rates for standard medical and surgical procedures across public and private-sector healthcare institutions. Most stocks sensitive to crude oil prices and interest rate changes also ended the session lower.

 

At 1611 IST, the October futures contract of Brent Crude oil was up over 1.8% at $89.27 a barrel. The contract's value had fallen last week on hopes that Iran and Oman were close to reaching a deal that would result in a reopening of the Strait of Hormuz. While Iranian leaders have said the country is close to reaching a deal with Oman, they have maintained that for shipping lanes to open, the US must compensate Iran for the war and end its sanctions. US President Donald Trump, in response, said Iran must pay compensation for "all of the people that they have killed and gravely wounded", according to several media reports.

 

Traders closed out their positions on out-of-the-money contracts expiring Tuesday, particularly on the call side, to avoid assignment. For contracts expiring Aug. 18, premiums across 24500–25000 strike prices declined sharply. Additionally, a fall in open interest in call options across strike prices indicates that traders have unwound their long positions. A high build-up of open interest around the 24500 strike price indicates that this level will act as the immediate resistance for the headline index.

 

Traders purchased put options across 24200-24000 strike prices, resulting in a sharp jump in premiums for such contracts. Moreover, they bought put contracts expiring Aug. 25 for up to the 23500 strike price. However, call writers were also active, selling deep-out-of-the-money contracts. The maximum open interest for put options was built at 24000 points, which will act as a strong support for the Nifty 50.

 

"Going forward... 24390-24350 (points) will be a key support area for the Nifty (50) index," Sudeep Shah, head of technical and derivatives research at SBI Securities, said. "A decisive break below the 24350 mark could accelerate the correction and drag the index towards the 24200 level in the near term." On the upside, 24600–24630 points are expected to act as the immediate resistance.

 

Traders have built fresh short positions on the options chain of Apollo Hospitals Enterprise. Premiums across INR 8,200-INR 8,500 strike prices increased sharply. However, this rise could have also been driven by traders rushing to hedge against downside risk after facing selling pressure Tuesday. The hospital operator will release its June quarter earnings Wednesday. Improved occupancy in the hospitals business and steady growth in the pharmacy and clinics segments are likely to help Apollo Hospitals report healthy earnings growth. The company is expected to report a consolidated net profit of about INR 5.6 billion for the June quarter, up 29% on year and 5% on quarter. Its hospitals segment is expected to report an on-year sales growth in the range of 16% to 19%.

 

Grasim Industries will also release its earnings Wednesday. Brokerages are divided on the company's bottom line for the June quarter. Of the three brokerages whose estimates are available with Informist, Motilal Oswal Financial Services expects the company to report a net profit of INR 700 million for the quarter and Kotak Institutional Equities anticipates a net profit of INR 1.30 billion. On the other hand, Nuvama Wealth Management Ltd. expects the company to post a net loss of INR 712 million. Traders expect a limited fall in the stock in the near term, with maximum short positions built around INR 3,300-INR 3,200 strike prices. 

 

--Nifty 50 August closed at 24525.10, down 134.60 points; 53.40-point premium to the spot index
--Nifty 50 September closed at 24670.10, down 120.80 points; 198.40-point premium to the spot index
--Nifty 50 October closed at 24803.10, down 123.90 points; 331.40-point premium to the spot index

 

Life Insurance Corp. of India, Zydus Lifesciences, Multi Commodity Exchange of India, BSE, One 97 Communications, Siemens, Bharat Forge, HDFC Bank, Info Edge (India), and State Bank of India were the most actively traded underlying stocks Tuesday.  End

 

US$1 = INR 95.43

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Rajeev Pai

 

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