Nifty Jan 2020 futures trade at premium

Turnover spurts in NSE F&O segment on account of F&O expiry

The Nifty January 2020 futures were at 12,196.05, a premium of 69.5 points compared with the Nifty's closing of 12,126.55 in the cash market.

In the cash market, the Nifty 50 index declined 88 points or 0.72% to 12,126.55.

Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 25.46 lakh crore compared with Rs 10.80 lakh crore reported in the previous session.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 6.15% to 10.91. A decline in volatility indicates stability in benchmark index. India VIX has tanked 11.52% in three sessions.

On the options front, the Nifty option chain for 30 January 2020 expiry showed maximum call open interest (OI) of 16.56 lakh contracts at the 12,200 strike price. Significant call writing was witnessed at 12,200 strike price, which added 4.68 lakh contracts.

Maximum put OI of 26.84 lakh contracts was seen at 12,000 strike price. Maximum put writing was seen at the 12,200 strike price, which added 3.49 lakh contracts. Put unwinding was seen at 12,300 strike price, which shed 80,850 contracts.

The option chain indicates that Nifty will expire between 12,000 and 12,200 in the January 2020 series, which expires on 30 January 2020.

Hexaware Technologies (down 3.15%), Tata Elxsi (down 3.55%) and Union Bank of India (down 6.94%) will be excluded from F&O trading from 27 December 2019. However, the existing unexpired contracts of expiry months October, November and December would continue to be available for trading till their respective expiry and, new strikes would also be introduced in the existing contract months.

Dish TV India fell 1.12% to end at Rs 13.19 in the cash market. The stock was banned from trading in NSE's F&O segment today after the security crossed 95% of market wide position limit.

Reliance Industries (RIL), State Bank of India (SBI) and HDFC Bank were the top traded individual stock futures contracts in F&O segment of NSE for December expiry.

RIL January 2020 futures were at 1,528.95, compared with spot closing price of 1515.80. SBI January 2020 futures were at 332.20 compared with spot closing price of 330.20. HDFC Bank January 2020 futures were at 1,279.45, compared with spot closing price of 1269.85.

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