Turnover spurted in derivatives segment on account of weekly expiry of index options.
The Nifty January 2020 futures were at 12,338, a premium of 55.05 points compared with the Nifty's closing of 12,282.95 in the cash market.In the cash market, the Nifty 50 index surged 100.45 points or 0.82% to 12,282.95.
Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 28.98 lakh crore compared with Rs 11.24 lakh crore reported in the previous session.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.64% to 11.5225.
On the options front, the Nifty option chain for 30 January 2020 expiry showed maximum call open interest (OI) of 22.72 lakh contracts at the 12,500 strike price. Maximum put OI of 38.64 lakh contracts was seen at 12,000 strike price.
The option chain indicates that Nifty will hover between 12,000 and 12,500 in the January 2020 series.
State Bank of India (SBI), Reliance Industries (RIL), and Tata Steel were the top traded individual stock futures contracts in F&O segment of NSE for January expiry.
SBI January 2020 futures were at 341, compared with spot closing price of 335. RIL January 2020 futures were at 1,541.95 compared with spot closing price of 1534.10. Tata Steel January 2020 futures were at 488.40, compared with spot closing price of 487.80.
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