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Informist, Thursday, Dec. 11, 2025

By Anjana Therese Antony

MUMBAI – Though the benchmark Nifty 50 index snapped a three-day winning run Thursday, derivatives traders added some short positions to deep out-of-the-money call options of the index expiring next week. The depreciation of the rupee against the dollar to its record low in Thursday's session, high valuations, and persistent selling pressure from foreign investors have been weighing on investors' sentiment in the near term. Premiums on out-of-the-money call strikes of the Nifty 50, which are up to 2% higher than the spot level, rose and those on the remaining contracts declined, indicating that only a limited rise in the index is expected. 

On Thursday, the Nifty 50 closed 0.6% higher at 25898.55 points. The immediate support for the index is seen at 25700 points and resistance is seen in the range of 25950-26000 points, according to a technical analyst at a top domestic broking firm. 

Premiums on 26100-26450 call strikes, which are up to 2% higher than the spot level, rose 4-10%, while those on strikes above these levels declined. Premiums across out-of-the-money put contracts more than halved. The maximum addition of open interest was at 26350 call and 25700 put contracts. Traders also exited some long positions from the December futures series, which closed 0.6% higher at 26014 level, and open interest fell over 3% to more than 16 million. 

After over a year of muted returns from the domestic market, the undertone in the market has turned bullish, driven by optimism around the goods and services tax cuts, reduction in interest rates, anticipation of better earnings growth, and a pick up in the government's capital expenditure. "Significant initiatives by the government to revive consumption and a likely more favourable regulatory regime should help India deliver a double-digit return in 2026," HSBC said in its report. 

--Nifty 50 December closed at 26014.00, up 150.10 points; 115.45-point premium to the spot index
--Nifty 50 January closed at 26170.00, up 137.60 points; 271.45-point premium to the spot index
--Nifty 50 February closed at 26308.20, up 126.50 points; 409.65-point premium to the spot index

InterGlobe Aviation, Dixon Technologies (India), Kotak Mahindra Bank, Vodafone Idea, Infosys, BSE, Kaynes Technology India, Reliance Industries, HDFC Bank, ICICI Bank, Multi Commodity Exchange of India, Bharti Airtel, Adani Enterprises, Hindustan Zinc, Adani Green Energy, and State Bank of India were the most actively traded underlying stocks Thursday.  End

Edited by Tanima Banerjee

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