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Benchmark indices closed in the green for the sixth straight session. Rollovers on
D-2 have been on the higher side on both market wide as well as the Nifty front
compared to the previous expiry. On the market wide front, ~51% of the
positions have been rolled over to the April series (~41% on D-2 of February
series). Current market wide futures OI stands at ~INR 575 bn as against ~INR
560 bn on D-2 of February expiry. Roll cost levels in single stock futures stayed at
yesterday’s levels of ~75 bps (cost to the long rollers).
Around 50% of outstanding positions of Nifty have been rolled over to April series
as against the 34% positions that were rolled by D-2 of previous expiry. The
current Nifty OI stands at 675,794 contracts (INR 195 bn) compared to 616,355
contracts (INR 169 bn) on D-2 of February expiry. Around 23,827 Nifty contracts
got rolled today while ~36,843 contracts were added in the mid month. Nifty roll
cost to the long rollers averaged ~30 points during the day.
Sectors with strong rollovers were FMCG (61%), power (59%) and telecom (58% each). Prominent counters are Dabur
(61%), NTPC (66%) and Idea (59%). Counters where rolls have picked up are Jindal Saw (66%/31%), Bharti Airtel
(55%/31%) and HDIL (61%/37%). Pharmaceuticals (45%) and auto (41%) were the laggards on D-2.
Focus Stocks
Jindal Saw (JSAW): The counter witnessed a rise in the rollovers with overall 66% of the futures positions
getting rolled into the next series as against 31% yesterday. It currently holds a total OI of ~4.32mn shares.
Roll cost levels are at ~54-56 bps (profit to short rollers).
Bharti Airtel (BHARTI): Nearly 55% of the positions have got rolled into the next series as against 31%
yesterday. The open interest is currently ~14.68mn shares. Rollovers happened at a profit of ~54-56bps.
HDIL (HDIL): As compared to previous session’s rollover of 37%, the counter witnessed pick up in rollover
activity in today’s session. Around 61% positions have been rolled over to the April series and it holds an OI of
~15mn shares. Rolls are happening at around ~80-85bps (profit to short rollers).
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Benchmark indices closed in the green for the sixth straight session. Rollovers on
D-2 have been on the higher side on both market wide as well as the Nifty front
compared to the previous expiry. On the market wide front, ~51% of the
positions have been rolled over to the April series (~41% on D-2 of February
series). Current market wide futures OI stands at ~INR 575 bn as against ~INR
560 bn on D-2 of February expiry. Roll cost levels in single stock futures stayed at
yesterday’s levels of ~75 bps (cost to the long rollers).
Around 50% of outstanding positions of Nifty have been rolled over to April series
as against the 34% positions that were rolled by D-2 of previous expiry. The
current Nifty OI stands at 675,794 contracts (INR 195 bn) compared to 616,355
contracts (INR 169 bn) on D-2 of February expiry. Around 23,827 Nifty contracts
got rolled today while ~36,843 contracts were added in the mid month. Nifty roll
cost to the long rollers averaged ~30 points during the day.
Sectors with strong rollovers were FMCG (61%), power (59%) and telecom (58% each). Prominent counters are Dabur
(61%), NTPC (66%) and Idea (59%). Counters where rolls have picked up are Jindal Saw (66%/31%), Bharti Airtel
(55%/31%) and HDIL (61%/37%). Pharmaceuticals (45%) and auto (41%) were the laggards on D-2.
Focus Stocks
Jindal Saw (JSAW): The counter witnessed a rise in the rollovers with overall 66% of the futures positions
getting rolled into the next series as against 31% yesterday. It currently holds a total OI of ~4.32mn shares.
Roll cost levels are at ~54-56 bps (profit to short rollers).
Bharti Airtel (BHARTI): Nearly 55% of the positions have got rolled into the next series as against 31%
yesterday. The open interest is currently ~14.68mn shares. Rollovers happened at a profit of ~54-56bps.
HDIL (HDIL): As compared to previous session’s rollover of 37%, the counter witnessed pick up in rollover
activity in today’s session. Around 61% positions have been rolled over to the April series and it holds an OI of
~15mn shares. Rolls are happening at around ~80-85bps (profit to short rollers).
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