Nifty Open Interest PCR up at 1.35 versus 1.22

By Varinder Bansal, Research Analyst at CNBC-TV18

FIIs were net buyers of Rs 1,606 crore in Index Futures on Tuesday, which open interest (OI) was up by 2522 contracts. They were net buyers of Rs 1,301 crore in Index Options; which OI was up by 61683 contracts.

Stock Futures added 3 crore shares in open interest. Nifty Futures shed 8.2 lakh crore shares in open interest and its premium increased at 22 points versus 5 points.

Nifty Open Interest PCR was up at 1.35 versus 1.22. Highest OI outstanding was seen at 5300 Put and 5700 Call.

Nifty 5400 Put added 24.4 lakh shares in OI while Nifty 5800 call added 11.6 lakh shares in OI and Nifty 5700 Call added 10.6 lakh shares in OI.

Long buildup & cash buying were seen in Suzlon Energy. The stock rallied 6.5%; its OI was up by 11% and delivery volume increased at 76 lakh shares versus 30 lakh shares.

Jaiprakash Associates jumped 7.7%; its OI was up by 4% and delivery volume declined at 40 lakh shares versus 82 lakh. Speculative buying was seen in stock.

Long buildup & speculative buying were seen in JSW Steel. The stock shot up 9%; its OI was up by 11.5% and delivery volume went up at 4.1 lakh shares versus 1.7 lakh.

Short covering & speculative buying were seen in L&T. The stock rallied 5.5%; its OI was down by 6% and delivery volume declined at 10.5 lakh shares versus 13.2 lakh.

Short covering and cash buying were seen in Ashok Leyland. The stock surged 11%; its OI was down by 9% and delivery volume shot up at 44.5 lakh shares (40%) versus 20.4 lakh (31%).

M&M witnessed short covering and marginal cash buying on Tuesday. The stock was up 7.5%; its OI was down by 20% and delivery volume went up at 30.6 lakh shares (48%) as against 24.7 lakh (43%).