India’s stock indices are likely to scale record highs in the April derivatives series going by the trends in the March series expiry on Thursday. The Nifty posted the biggest series gain since November last year amid a preelection rally.
The Nifty gained 7.2 per cent in the March series and the Sensex was up 7.3 per cent, with the banking stocks contributing the most. The Nifty had gained 7.25 per cent in the November series. The Nifty gained 125 points, or 1.1 per cent, on Thursday to ..
Nifty rollovers at 68 per cent were higher than the last three months’ average of 65 per cent and the market wide rollover stood at 81 per cent. The cost to carry forward positions stood at 63-65 basis points. The open interest in Nifty futures stood at Rs 21,000 crore on expiry day compared to Rs 16,100 crore on the previous expiry day. Long positions were carried forward in banking and consumer stocks while auto stocks saw more of short positions being rolled over. The Nifty Bank surged 13.6 p ..
"High rollovers and higher roll cost indicate that the longs carried forward their bets and the market may surpass previous record highs to hit 12,000 in the new series," said Chandan Taparia, derivative analyst at Motilal Oswal.
The Nifty had touched a lifetime high of 11,760.20 on August 28 last year, while the Sensex had touched an all-time high of 38,989.65 on August 29. The Sensex is 1.1 per cent away from its lifetime high and Nifty is 1.6 per cent away from record high.
The Nifty gained 7.2 per cent in the March series and the Sensex was up 7.3 per cent, with the banking stocks contributing the most. The Nifty had gained 7.25 per cent in the November series. The Nifty gained 125 points, or 1.1 per cent, on Thursday to ..
Nifty rollovers at 68 per cent were higher than the last three months’ average of 65 per cent and the market wide rollover stood at 81 per cent. The cost to carry forward positions stood at 63-65 basis points. The open interest in Nifty futures stood at Rs 21,000 crore on expiry day compared to Rs 16,100 crore on the previous expiry day. Long positions were carried forward in banking and consumer stocks while auto stocks saw more of short positions being rolled over. The Nifty Bank surged 13.6 p ..
"High rollovers and higher roll cost indicate that the longs carried forward their bets and the market may surpass previous record highs to hit 12,000 in the new series," said Chandan Taparia, derivative analyst at Motilal Oswal.
The Nifty had touched a lifetime high of 11,760.20 on August 28 last year, while the Sensex had touched an all-time high of 38,989.65 on August 29. The Sensex is 1.1 per cent away from its lifetime high and Nifty is 1.6 per cent away from record high.
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