Nifty futures rollover dips to 68%October 1, 2021
The Nifty 50 index saw a rollover of 68 per cent in open interest positions to October series. This is lower than the previous month’s figure of 74 per cent. As Nifty October futures closed at 17,611.80 at a discount to the spot price of 17,618.15, rollovers signal short positions; Nifty September futures closed at 17,619.10.
Bank Nifty also saw a slightly higher rollover of 77 per cent as against the previous month’s 75 per cent. However, Bank Nifty October futures closed at 37,596 at a premium, and September futures at 37,423 as against the spot close of 37,425.10. This indicates higher long rollovers.
According to analysts, Nifty is likely to move in a narrow range with a downward bias, during the initial period of the next series. As the corporate result season begins from the second week of October, the market direction will be dictated by the numbers. However, with volatility index still ruling above 18, the market is likely to remain under pressure, they said.
Mphasis, HDFC Bank, Metropolis, ICICI General Insurance and Adani Parts are some of the counters that saw high rollovers while they were lower in Cipla, Hindustan Unilever, Hindalco and Motherson Sumi Systems.
Meanwhile, the NSE will add eight more stocks to the futures & options (F&O) from October 1. The new entrants are Abbott India, Crompton Greaves Consumer Electricals, Dalmia Bharat, Delta Corp, India Cements, JK Cement, Oberoi Realty and Persistent Systems.