Nifty rollovers at 66 per cent

The January series started with an open interest of Rs 22,000 crore with 79 per cent of market-wide positions getting rolled over. The market-wide rollover cost hovered around 60-65 basis points, at around the same level as seen in the last three trading sessions of the expiry.

Nearly 66 per cent of the Nifty positions got rolled over to the January series, in line with the previous expiries in percentage terms. The rollover cost expanded through the expiry day, with the cost rising from 45 basis points to 60 basis points by the end of the session.

The Nifty January series began with an open interest (OI) of 624,794 contracts as against an OI of 611,110 at the beginning of the December series. In value terms, the

Nifty OI stands at Rs 9,183 crore as against an OI of Rs 8,468 crore seen at the beginning of the December series.

Sectors in focus
The cement, banking and textile sectors witnessed a strong rollover on the long side as there were increase in prices and open interest. Information technology, auto, metals and realty witnessed a strong rollover on the short side as prices came down along with increase in open interest.

While sectors such as metals & mining (86 per cent), sugar (86 per cent) and textile (85 per cent) saw strong rollovers, oil & gas (70 per cent), telecom (75 per cent) and power (75 per cent) witnessed weak rollovers. Stocks such as Syndicate Bank (98.8 per cent), GTL (98.3 per cent), India Cements (97.5 per cent) and Voltas (97 per cent) saw strong rollovers, HDIL (60.8 per cent), HDFC Bank (61.5 per cent), GNFC (64.8 per cent) and BPCL (65.5 per cent) saw weak rollovers.