Informist, Friday, Feb 3, 2023
By Anjana Therese Antony
MUMBAI – Some bullish expectations were seen taking shape as the premium for major call options above 17850 strike price of Nifty 50 rose today. This comes as the index managed to cross its immediate resistance of 17800 points in the spot market. At 17900 strike price, traders added long positions and the premium increased by more than 50% for call options.
Short covering seen in the derivatives segment may propel Nifty 50 towards 18200 points, said ICICI Direct Research in its report. Nifty 50 February futures contracts extended gains for the second consecutive session and closed 1% higher. However, the contract closed at a premium of only 22.95 points to the spot index as per provisional data. This was sharply lower than the 74.85-point premium seen on Thursday.
Foreign institutional investors' net short positions are more than 110,000 contracts, said ICICI Direct Research. Hence, there is high chance of a short covering, the brokerage added.
Indian markets fell due to the weakness in stocks of Adani group companies since last week. However, credit rating agency Fitch's report released today drove the sentiment and cemented ground for some stocks such as Adani Enterprises, and Adani Ports and Special Economic Zone that went through significant volatility for about seven sessions. This consequently gave some momentum to the market and helped indices end more than 1% higher.
The premiums on major put options fell due to a rebound in the market. The maximum open interest build-up on the put side was seen at 17600 points with its premium declining over 69%.
--Nifty 50 Feb closed at 17877.00, up 191.75 points; 22.95-point premium to spot index
--Nifty 50 Mar closed at 17974.00, up 189.95 points; 119.95-point premium to spot index
--Nifty 50 Apr closed at 18045.00, up 190.00 points; 190.95-point premium to spot index
The total turnover in the futures and options segment of the National Stock Exchange was 119.89 trln rupees as against 405.97 trln rupees on Thursday.
The turnover in index options was 115.86 trln rupees compared with 402.17 trln rupees in the previous session. The total premium turnover of the index and stock options was 661.18 bln rupees compared with 901.19 bln rupees on Thursday.
Adani Enterprises, State Bank of India, Reliance Industries, HDFC Bank, Titan Co, Bajaj Finance, and Divi's Laboratories were among the most actively traded underlying stocks today. End
Edited by Akul Nishant Akhoury
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Informist, Friday, Feb 3, 2023
By Anjana Therese Antony
MUMBAI – Some bullish expectations were seen taking shape as the premium for major call options above 17850 strike price of Nifty 50 rose today. This comes as the index managed to cross its immediate resistance of 17800 points in the spot market. At 17900 strike price, traders added long positions and the premium increased by more than 50% for call options.
Short covering seen in the derivatives segment may propel Nifty 50 towards 18200 points, said ICICI Direct Research in its report. Nifty 50 February futures contracts extended gains for the second consecutive session and closed 1% higher. However, the contract closed at a premium of only 22.95 points to the spot index as per provisional data. This was sharply lower than the 74.85-point premium seen on Thursday.
Foreign institutional investors' net short positions are more than 110,000 contracts, said ICICI Direct Research. Hence, there is high chance of a short covering, the brokerage added.
Indian markets fell due to the weakness in stocks of Adani group companies since last week. However, credit rating agency Fitch's report released today drove the sentiment and cemented ground for some stocks such as Adani Enterprises, and Adani Ports and Special Economic Zone that went through significant volatility for about seven sessions. This consequently gave some momentum to the market and helped indices end more than 1% higher.
The premiums on major put options fell due to a rebound in the market. The maximum open interest build-up on the put side was seen at 17600 points with its premium declining over 69%.
--Nifty 50 Feb closed at 17877.00, up 191.75 points; 22.95-point premium to spot index
--Nifty 50 Mar closed at 17974.00, up 189.95 points; 119.95-point premium to spot index
--Nifty 50 Apr closed at 18045.00, up 190.00 points; 190.95-point premium to spot index
The total turnover in the futures and options segment of the National Stock Exchange was 119.89 trln rupees as against 405.97 trln rupees on Thursday.
The turnover in index options was 115.86 trln rupees compared with 402.17 trln rupees in the previous session. The total premium turnover of the index and stock options was 661.18 bln rupees compared with 901.19 bln rupees on Thursday.
Adani Enterprises, State Bank of India, Reliance Industries, HDFC Bank, Titan Co, Bajaj Finance, and Divi's Laboratories were among the most actively traded underlying stocks today. End
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2023. All rights reserved.
