India VIX jumps 25% amid high volatility

Nifty Feb futures trade at discount

The Nifty February 2020 futures were at 11,832.80, a discount of 5.8 points compared with the Nifty's closing of 11,838.60 in the cash market.

Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 12.76 lakh crore compared with Rs 33.14 lakh crore reported in the previous session.

In the cash market, the Nifty 50 index slumped 242.25 points or 2.01% to 11,838.60.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, spurted 25.63% to 17.2125. A rise in volatility indicates instability in benchmark index.

On the options front, the Nifty option chain for 27 February 2020 expiry showed maximum call open interest (OI) of 48.83 lakh at the 12,000 strike price. Maximum put OI of 30.97 lakh contracts was seen at 11,800 strike price. The option chain indicates that the Nifty will trade between 11,800 to 12,000 levels in February.

Yes Bank (up 0.71%) was banned from trading in NSE's F&O segment for today after the security crossed 95% of market wide position limit.

State Bank of India (SBI), HDFC and ICICI Bank were the top traded individual stock futures contracts in F&O segment of NSE.

SBI February 2020 futures were at 322.60, compared with spot closing price of 322.80. HDFC February 2020 futures were at 2,303.25 compared with spot closing price of 2303.85. ICICI Bank February 2020 futures were at 530.55, compared with spot closing price of 530.55.

The F&O contracts for February expire on 27 February 2020.

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