The Nifty 50 index retreated 0.3 percent Wednesday, continuing to consolidate above 8,700. Its October futures showed little activity with less than 0.5 percent addition to its open interest.
The Nifty Bank index which declined by 0.9 percent added 1.4 percent in its futures open interest to indicate fresh selling. Foreign institutional investors bought index futures worth Rs 154 crore on a net basis.
The India Volatility Index declined 0.5 percent at 14.92, which showed a lack of substantial movement in option premiums. The 9,000 call and the 8,600 put continued to hold maximum open interest. Besides that, a further writing was seen in the 8,800 call and the 8,700 put.
FIIs bought 3,781 index call contracts against buying of 8,694 index put contracts on a net basis.
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