The Indian equity indices closed the previous week with gains of 0.65 percent, as investors await the monetary policy decisions from the U.S. Federal Reserve and the Bank of Japan on September 21.
The Nifty 50 index gained 0.4 percent on Friday to close at 8,780 but its futures saw only 0.25 percent open interest addition. The Nifty Bank index gained less than 0.2 percent but saw a decline of 2.3 percent in its September futures open interest, indicating more unwinding of positions.
Foreign Institutional Investors bought index futures worth Rs 427 crore on a net basis. The India Volatility index fell 0.7 percent to 14.58.
The Nifty 9,000 call saw unwinding of positions, as the Nifty gained with its open interest declining by 5.5 lakh shares. The 8,800 put saw writing as its open interest rose by 7.2 lakh shares. Maximum open interest remained in the 9,000 call and the 8,600 put.
FIIs bought 14,577 index call contracts on net basis against unwinding of only 3 index put contracts, indicating their expectations of near term gains.
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