Action ahead of F&O expiry

After rising about seven per cent in March, the market has gained about three per cent so far this month. Derivatives analysts expect the rollovers, or transfer of positions from one series to the next, to be in line with those in the previous month. Open interest, however, was on the decline, as foreign investors had begun to unwind some of their long positions following strong gains, they said. The May series is expected to be highly volatile in the run-up to the election results. A look at the stocks that were in the limelight ahead of the expiry of the April series derivative contracts: