Nifty, Bank Nifty rollovers dip as markets slump

Rollovers of Nifty and Bank Nifty contracts were sharply below their one-year average on Thursday, the expiry for September series derivatives contracts. The drop in rollovers was indicative of weak investor sentiment, said analysts. Nifty declined six per cent during the September series, its worst weekly performance since February 2018. Bank Nifty declined 11 per cent during September series, most since February 2016. Nifty rollovers stood at 60 per cent for September compared to a one-year average of 66 per cent, while Bank Nifty rollovers stood at 64 per cent compared to one-year average 69 per cent. Rollover is a term used for carrying forward of derivatives positions from a series, which is expiring, to a next-month series. Thursday was the expiry day for August series derivative contracts. Overall, market rollovers were in line with recent months at 86 per cent.