Nifty Futures Show No Sign of Slowing Down as FIIs Maintain Bullish Stance

The NSE Nifty index extended gains for a third straight session on Wednesday, climbing 0.5 percent to close at 8,786. During the day, the 50-share benchmark went all the way up to 8,819, its highest level since April 2015.

The Nifty September futures added more long positions with an open interest rise of 8.4 percent. The Nifty Bank index outperformed the broader index as it gained 1.1 percent. Its September futures added 8 percent in open interest, indicating fresh long positions.

Foreign institutional investors remained bullish. They bought index futures worth Rs 2,886 crore on net basis.

An expansion in option premiums led to an increase of 1.7 percent in the India Volatility Index (VIX) to 13.2.

The Nifty 9,000 Call further cemented itself as the one with maximum open interest by seeing addition of 5.6 lakh shares. Maximum open interest in puts remained at the 8,500 strike but the 8,700 put saw the most writing with an addition of 10.9 lakh shares.

FIIs bought 19,487 index call contracts against buying of 6,854 index put contracts.