Nifty 5500 Put adds 12.6 lakh shares in OI

By Varinder Bansal, Research Analyst at CNBC-TV18

FIIs were net sellers of Rs 421 crore in Index Futures; which open interest (OI) was up by 42283 contracts. Total Nifty Futures' open interest was up by Rs 1447 crore while total Nifty Options' open interest was up by Rs 1337 crore.

Stock Futures added 3 crore shares in OI. Nifty Open Interest PCR was up at 1.25 versus 1.15. Nifty 5500 Put added 12.6 lakh shares in OI while Nifty 5700 Call added 1.8 lakh shares in OI.

Long buildup and cash based buying were seen in DLF and Hindalco. DLF rallied 6.7%; its OI was up by 3% and delivery volume increased at 58.5 lakh equity shares as against 34.5 lakh shares.

Hindalco jumped 4.8%; its OI was up by 20% and delivery volume went up at 54.4 lakh shares versus 43.6 lakh.

Speculative buying was seen in Shree Renuka Sugars and Tata Motors. Shree Renuka shot up 5.9%; its OI was up by 4.5% and delivery volume declined at 21 lakh shares versus 31 lakh shares.

Tata Motors rose 4.5%; its OI was up by 6% and delivery volume fell at 4.7 lakh shares versus 17.8 lakh shares.

Short covering was seen in India Cement. The stock rallied 4.7%; its OI was down by 9% and delivery volume slipped at 9 lakh shares versus 31.2 lakh shares.