Derivatives summary for traders: IndusInd Bank, Hindalco, Mindtree, Tata Motors in focus

Nifty December futures closed at a premium of 1.35 points versus a premium of 13.50 points. The market added Rs 3637 cr in open interest, taking the total open interest in the F&O segment to Rs. 516659 cr. The Nifty call option added 177.83 lakh shares in open interest and the put option shed 82.03 lakh shares in open interest. AMBUJACEM (8%) INDIGO (7%), ACC (7%), PVR (6%) and IDFCFIRSTB (6%) were the top gainers in terms of open interest. M&MFIN (-29), COFORGE (-25%), MINDTREE (-21%) and MFSL (-17%) and SAIL (-15%) were the top losers in terms of open interest. Overall futures & options volumes currently stand at 378.82 lakh contracts, with a turnover of Rs 3311832 cr. Volumes in the F&O segment were higher as compared to the previous trading session

Market commentary:

On December 21, 2020 benchmark indices opened with a mild loss in line with negative cues from global markets. Thereafter, the Nifty turned positive in the early hours of trade and made a high around 13785 levels. However, in the afternoon, the Nifty declined sharply, due to profit booking in all sectoral indices that closed with loss of 4-5%. Stocks like TATAMOTORS, ONGC, GAIL, INDUSIND BANK, HINDALCO and IOC were top losers that fell by 7-9%. The Nifty closed around 13291 levels with a loss of 3.51%.

Daily view:

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About 13.87 lakh shares were shed in open interest with a decrease in prices this indicates that long unwinding was observed by market participants. On the options front, the volatility index increased by 24.52%.