Nifty Roll Overs at 63%, Total Roll Overs at 82% - Motilal Oswal

The month of February started off with a fall, which did reverse mid month. However, the topsy-turvy moves led the index once again to one of its lowest levels of the month on the day of expiry.

February series saw Stock Rollovers of 82% (6-m avg. 85%) and Nifty Rollovers of 63% (6-m avg. 68%). The participation in stock futures remained light as the aggregate open interest never crossed the 2bn shares mark convincingly.

Lower rollovers on a lower base has left us with just over 1.67bn shares in stock futures open interest indicating a fall of almost 6% in participation expiry over expiry. Nifty futures open interest has been around the average levels of 30mn shares towards the end of the expiry.

The rollovers however did see a boost due to fresh built up in the March series on the day of expiry leading Nifty opening participation to over 23mn shares.

Source : Equity Bulls

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