Nifty Feb futures trade at premium

India VIX cools off 3%

The Nifty February 2020 futures were at 12,148, a premium of 17.70 points compared with the Nifty's closing of 12,130.30 in the cash market.

Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 17.38 lakh crore compared with Rs 14.89 lakh crore reported in the previous session.

In the cash market, the Nifty 50 index gained 137.8 points or 1.15% to 12,130.30.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.96% to 14.08. A fall in volatility indicates stability in benchmark index.

On the options front, the Nifty option chain for 27 February 2020 expiry showed maximum call open interest (OI) of 24.19 lakh at the 12,300 strike price. Maximum put OI of 42.46 lakh contracts was seen at 12,000 strike price. The option chain suggests that the Nifty will trade between 12,000 to 12,300 levels in February.

NCC (up 4.71%) and Yes Bank (up 0.86%) were banned from trading in NSE's F&O segment for today after the securities crossed 95% of market wide position limit.

Shares of Oil India rose 5.01% at Rs 138.35. Oil India will be stopped from trading in NSE's F&O segment with effect from 4 May 2020 after failing to meet the enhanced eligibility criteria of derivatives segment. NSE in a circular released yesterday said that the existing unexpired contracts of Oil India for expiry months of February 2020, March 2020 and April 2020 would continue to be available for trading till their respective expires. Accordingly, no contracts shall be available for trading in the above mentioned security with effect from May 04, 2020.

State Bank of India, Aurobindo Pharma and Reliance Industries were the top traded individual stock futures contracts in F&O segment of NSE.

State Bank of India February 2020 futures were at 321.10, compared with spot closing price of 320.20. Aurobindo Pharma February 2020 futures were at 605.05 compared with spot closing price of 604.40. Reliance Industries February 2020 futures were at 1,506.80, compared with spot closing price of 1504.50.

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

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