Nifty adds 85 lakh shares in net open interest

CNBC-TV18’s research analyst, Anichya Shah has given F&O highlights: We have a lot of catching up to do, rollovers were extremely weak yesterday but we seem to be doing that at a very rapid pace today with the markets holding up above that 4,850 level a lot of stocks were initially driven by fair bit of short covering but most of these stocks are seeing huge open interest build up in the April series as well.

Yesterday market wide rollovers were about 20%, both market wide and the Nifty, Nifty has gone all the way up to about 31% still two hours of trade left and market wide has also picked up pretty smartly specially in the last hour of trade to close to about 30%.

Some stocks, which have been buzzing and the cost of carry of a lot of stocks in the April series shoot up as well signifying that there would be a whole lot of long positions being built up especially in the last hour. If you look at the Nifty long rollovers, which started yesterday have continued in today’s trade that is why the April series go into about 4-5 point premium from the March series. It is overall at about 20-point premium so good long rollover and a net addition of about 85 lakh shares.

ICICI Bank, which is in rollovers pick up over the last few days has seen its next month go into a slight premium, it was pretty flat for the last few days so some bit of long build up pressure, net addition of about 7.5 lakh and pretty strong rollovers at about 45%.

The entire Reliance pack seems to be having pretty strong rollovers. Reliance Capital is one stock that has picked up in the last hour or so up about 12% in the spot market, net addition of about 6 lakh shares. Rollovers look low on account of that low rollovers, which have taken place over the last few days but it is picking up as we speak.

JP Hydro and IFCI these are two liquid stocks that have seen rollovers pick up in today’s trade. JP Hydro has added 12 lakh shares in the April series and it has gone into about a 0.9% premium.

Even IFCI has seen fair bit of open interest build up of about 64 lakh shares in April series, net addition of about 40 lakh shares, next month has gone into 0.9% premium. So even the liquid midcap space has seen a good open interest build up and NIIT Tech is another stock that has been buzzing in the last hour or so has seen a good open interest build up with a strong cost of carry.