Published on 1/06/2019 2:30:02 PM | Source: HDFC Securities Ltd

Stock Future`s Open Interest At Three Month Low - HDFC Securities

Posted in Expert Views| #Expert Views #HDFC Securities

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BJP led by Shri Narendra Modi got a massive mandate for the 17th loksabha. Stable government and continuity in policy for next 5 years has enthused market participants. Nifty and Sensex surged to all time highs on back of conducive election results. The May series ended with a flourish with the Nifty gaining 2.61% and the Bank Nifty surging 6.7 %, redeeming our confidence in the markets.

In absolute terms, we are starting June series with overall Open interest of Rs 2.54 lakh Cr as against 2.53 lakh Cr last series.

In the Stock futures’ segment, Open interest in terms of number of shares at the beginning of the June series stood at three series low at 431 Cr though Nifty and Bank Nifty closed at all time high.

The OI in terms of number shares in stock futures is 18% lower than the 523 Cr shares, the all time high OI seen in February last year. Rollovers of Nifty and Bank Nifty Futures stood at 72% and 83% (1.92 cr/18.8 lakh shares) as against 81% and 75% respectively in the last series. (2 cr/ 17.6 lakh shares).

Maximum Open interest in Nifty June Put options is at 11,500 strike (22.98 Lakh shares) and maximum open interest in Call option is at 12,500 strike (15.43 Lakh shares). FIIs’ were net sellers in the Index Futures’ segment where they net sold worth Rs 8831 Cr while In the Index Futures’ segment they net bought worth Rs 522 Cr.

Stocks with Positive Bias: Cipla, HPCL, Kajaria Ceramics, Manappuram Finance, Marico, MCX, Muthoot Finance.


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HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475


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