Rollover of Nifty jumps to 74%

The premium on the Nifty January futures with respect to the Nifty spot close widened sharply to 33.35 points on Wednesday, the penultimate day for December futures, due to short covering and also on creation of fresh long positions. The premium of 12.45 points for Nifty December future is quite high considering that it is expiring on Thursday. Nifty January series saw a rollover of about 74 per cent.

The overall rollover of derivatives contracts gained momentum with about 70 per cent of positions being carried forward to the next month. However, CNX Nifty Junior saw sharp rollover of about 93 per cent indicating lot of interest in Nifty Junior stocks. Trading volume also picked up sharply to Rs 91,144 crore, which is the highest so far in this month. Stock future accounted for Rs 67,695 crore while index futures witnessed a turnover of Rs 18,538 crore. e activity was mainly centred around on R-pack counters, thanks to the sharp rally in the last couple of days. Reliance was the most active among them, followed by Reliance Energy, Reliance Capital, Reliance Natural Resources and Reliance Communications.

However, the star performer among them was Reliance Capital, which gained 7.35 per cent. It saw rollover of about 68 per cent to January month contracts.

After remaining on the sell side for quite sometime, foreign institutional investors turned net buyers in the last couple of days. They were net buyers to the tune of Rs 1,986 crore. They were net buyers of Rs 1,760.76 crore in index futures and Rs 275.6 crore on stock futures though they offloaded about Rs 50 crore in index options.
Securities under ban

The NSE has banned six securities – Adlabs Films, Aptech, Arvind Mills, Gitanjali Gems, JP Hydro and Tata Tele Maharashtra – as open interest positions have crossed the maximum 95 per cent of the market wide position limit.