NSE Nifty 50 index was down over 50 points in the afternoon trade on Wednesday a day ahead of the expiry of monthly derivatives contracts.
NSE Nifty 50 index was down over 50 points in the afternoon trade on Wednesday a day ahead of the expiry of monthly derivatives contracts. Traders rolled over 42 per cent of the Nifty futures contracts to the March series that starts Friday, data shows.
Market wide rollover stood at 50 per cent. “Sector wise, technology, FMCG, pharma and auto counters have seen better rollover, whereas the banking space have seen built-up of short positions,” says Chandan Taparia, derivatives & technical analyst at Anand Rathi.
“Concerns over inflows remain, as overseas investors remain net seller in the futures market,” said, Taparia .
FIIs sold a net $41.10 mln of Indian stocks on Feb 22, taking this year’s outflow to $2.43 bln
The India Volatility Index, which measures implied volatility of stock options and is often seen as a gauge of investor fear, is down 0.8 per cent at 23.64.