- Infosys, HCLTech, Wipro, and TCS futures fell on April expiry day with lower open interest
- Decline in both price and open interest indicates long unwinding, not new short selling
- Infosys futures dropped 1.57%, with open interest down 1.39% to 38,828 contracts
India's information technology stocks saw long unwinding in the futures market on April expiry day, with key counters trading lower alongside a fall in open interest, pointing to traders cutting bullish positions and shifting exposure into the next series.
Infosys, HCLTech, Wipro and TCS were among the stocks in focus. The moves came as traders adjusted positions on monthly expiry, a session that often sees contracts closed or rolled over.
The pattern is significant because a fall in both price and open interest is widely read in derivatives markets as long unwinding rather than fresh short selling. That indicates existing buyers are exiting positions instead of new bearish bets entering the market.
Infosys Leads Declines
Infosys futures fell 1.57% to Rs 1,156.9, while open interest declined 1.39% to 38,828 contracts, according to the data provided.
HCLTech futures dropped 1.89% to Rs 1,210.1. Open interest was down 0.13% at 24,439 contracts.
Wipro futures slipped 0.16% to Rs 204.94, while open interest fell 5.67% to 13,902 contracts, showing a sharper reduction in positions than peers.
TCS was also part of the broader weak trend in the sector, based on the contracts data shared.
Expiry Focus
The data available on NSE points to broad position trimming in frontline IT names rather than aggressive fresh short build-up. Traders typically reassess near-term exposure on expiry day and move positions into the next monthly contract.
"The setup suggests traders were closing existing long positions in IT names instead of adding new short bets," the derivatives data analysis indicates.
Sector Watch
The combined move across Infosys, HCLTech, Wipro and TCS makes the trend relevant for the wider market, as the IT pack remains an important part of benchmark indices.
Market participants will now watch whether fresh positions emerge in the May series and whether the sector sees follow-through moves after expiry.
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