The NSE Nifty index closed little changed at 8,667 level on Friday. The 50-share benchmark has been locked in a narrow range, failing to make a decisive move either way in the last five trading sessions. Its August futures shed 2.7 percent in open interest.
The Nifty Bank index gained 0.3 percent, while its August futures open interest declined by 1 percent. Both indices' August futures indicated partial unwinding of positions.
Foreign institutional investors (FII) bought index futures worth Rs 233 crore, where open interest increased by 7821 contracts on net basis.
Nifty Range Firms Up for Expiry
Maximum distribution of call open interest continues to remain in the 8,800 Call. However, the put open interest has shifted back to 8,500 Put. It had writing of 6.1 lakh shares from 8,600 Put, which had unwinding of 5.4 lakh shares in open interest, according to data released by the National Stock Exchange. The range may have broadened but consolidation continued.
FIIs were quiet in their buying of options on Friday. Index options worth Rs 115 crore were bought even as open interest increased by 21,430 contracts on net basis. India volatility Index (VIX) remained flat at 14.5.
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