Nifty Futures Indicate Long Buildup With FIIs Plugging Rs 859-Crore Positions
The Nifty Index Futures settled 0.63% higher at 24,553.7 on Monday with an open interest addition of 7,806 contracts, indicating a fresh long buildup of positions.
The benchmark NSE Nifty 50 has moved 0.88% in the April contract since last expiry. Open Interest position has bee lower by 5.15% during the same period in Futures and across F&O by 12.7%.
The Nifty April Futures is trading at a premium of 106 points. The Nifty current Open Interest value is Rs 33,197 crore.
The Nifty Options saw call writing with maximum activity at 24,400 Put and 24,500, 24,800 and 25,000 Call strike prices. The Nifty Option open interest distribution suggests a trading range between 24,000 and 25,000. The Nifty Open Interest Put Call Ratio is at 0.77.
The Nifty Bank Index Futures settled 0.23% lower at 55,080.6 with an OI reduction of 2,478 contracts, indicating long unwinding.
The Nifty Bank Futures has fallen by 0.5% since last expiry. The Open Interest has fallen by 34.4% in Futures and across F&O by 58.85% since last expiry.
Nifty Bank April Futures is trading at a premium of 161 points. The current Open Interest value is at Rs 11,995 crore.
FII Activity
Foreign institutional investors net added a long position worth Rs 859 crore in Nifty Futures, taking the total open interest of the FIIs in Nifty Futures to Rs 18,287 crore compared to the previous day's open interest of Rs 16,951 crore, suggesting the FPIs have taken fresh long positions.
The FIIs net added a short position worth Rs 319 crore in Nifty Bank Futures, taking the total open interest of FIIs in Nifty Bank Futures to Rs 5,313 crore compared to the previous day's open interest of Rs 5,872.55 crore, suggesting unwinding of positions.
The FII Index long position has risen to 0.49 from 0.47. The long-short ratio has climbed to 0.94 and the FII open interest put-call ratio stood at 0.91 compared to 0.95 on the previous day.
The FIIs net buy was worth Rs 498 crore in the cash market as total volumes remained tepid due to close of Asian Markets, as per exchange provisional NSE data.
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