Staying with winners! Nearly 20 F&O stocks rose 10-44 percent in August series

The Nifty50 slipped a little over 1 percent so far in August series but there were plenty of stocks which recorded double-digit returns of up to 40 percent in the same period, F&O data showed.

As many as 18 stocks rose to 10-44 percent in August series which include names like PC Jeweller, HPCL, IOC, JSW Steel, Bata India, Torrent Power, Tata Global Beverages, Tata Steel, CESC, Tech Mahindra, Bajaj Finserv, and Petronet LNG etc. among others.

There was plenty of stock-specific action but rollovers were less than averages. The Nifty rolls at 37.26 percent were lower than the 3M average of 57.92 percent, according to data collated on August 30 by ICICIdirect.

The market wide rollover was at 55.72 percent which was also lower than the 3M average of 57.94 percent. Sectorally, pharma, textile, and technology stocks are witnessing high rollover of positions while capital goods, power and banking space are witnessing relatively low rolls into the September series

The highest rollover was observed in Strides Shasun (84 percent), followed by DHFL (81 percent), Glenmark Pharma (80 percent), Castrol India (80 percent), JSW Energy (79 percent) etc., among others.

With just one day for settlement, rollover activity is still low among Just Dial (37 percent), NTPC (39 percent), Titan Ltd (45 percent), Power Grid (45 percent) and PVR (46 percent).

Roll activities have found some momentum in the last session due to the high closure of positions in the August series futures. September series has added close to 25 lakh shares against the closure of 29 lakh shares in the August series, said the report.

The report further added that the roll spread declined further to 28 points (excluding dividend of almost 5 points in the September series) from 35 points seen in the penultimate week. Data suggests short positions are getting rolled into the next series.