Most Indian equity benchmarks advanced on Thursday, with the Nifty 50 index edging further towards life-time highs. While there was little change in Nifty's July futures open interest, the Nifty Bank's futures saw an increase of 5 percent towards fresh longs. Foreign investors sold index futures worth Rs 544 crore on a net basis.
With major indices advancing, the India VIX fell 1.5 percent to close at 11, indicating further contraction in option premiums.
The Nifty put-call ratio, which is the total open interest in Nifty put options to that of call options, increased to 1.3 from 1.26. This measure reflects the number of calls written in comparison to puts in the Nifty.
Among the most active options, the 9,600 call and 9,700 put contracts saw most writing whereas the 9,500 put saw most unwinding. Maximum open interest remains with 9,500 put and the 8,700 call options, which broadly reflect the range within which traders expect the Nifty to trade in the near-term.
Active Stock Futures
- Top gainer: State Bank of India saw short covering as OI fell 4 percent
- Top loser: Bajaj Auto saw long unwinding with OI falling 1 percent
- JSW Energy was top midcap loser saw long unwinding where OI down 5 percent (still in ban)
- Page Industries added 22 percent in OI witnessing fresh shorts (also with highest change in OI)
- HDIL added 2 percent in OI but also saw fresh long positions
- Punjab National Bank added 5 percent in OI, seeing fresh longs
F&O Ban
- HDIL joins Indiabulls Real Estate, JP Associates, JSW Energy and Ujjivan in the ban list.
Being in the F&O ban list means that no new positions will be allowed to taken in the futures contracts of these securities until earlier positions are unwound below the threshold limit.
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