Axis Bank adds about 2.8 lakh shares in Feb series

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Axis Bank adds about 2.8 lakh shares in Feb series

Turnover was an issue for the second day in a row. It was slightly higher than yesterday but it was still pretty subdued, slightly below Rs 40,000 crore mark. Axis Bank added about 2.8 lakh shares in February series.

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CNBC-TV18's research analyst, Anuj Singhal has given F&O highlights.

Turnover was an issue for the second day in a row. It was slightly higher than yesterday but it was still pretty subdued, slightly below Rs 40,000 crore mark. We however did see it pickup a bit from yesterday on account of the high bit of volatility that we saw. We did see some semblance of Put writing at that 4,700 level and some call writing at higher levels. IVs extremely high- they are between about 50-60% and it would difficult to ignore at these levels considering we are one-week away from expiry.

In Nifty clear short buildup was seen. 42% of the turnover came from your January and February Nifty futures. You can see that the next month is at a 45-points discount. So some semblance of short rollovers are beginning as well. Rollovers are at 21% there.

In individual stocks, the banking space saw some semblance of rollovers picking up. Axis Bank was strongest bank of the day. About 2.8-lakh shares being added in the February series and it is at a discount on account of some bit of cash selling and some bit of unwinding as well but we are seeing rollovers pickup here in Axis Bank and in SBI as well.

Now stocks like RPL and Power Grid- all these stocks after the initial opening gap, saw a fair bit of unwinding at higher levels and they are definitely seeing some OI addition in the February series but this is pretty muted considering the amount they have unwound in the recent past and they will be going into expiry week pretty light.