Rollover Report :The Nifty August series rollover stood at 83.6% on Thursday, reflecting an increase from the previous expiry’s 75.7%, surpassing both the three-month average of 78.1% and the six-month average of 78.8%, suggesting a stronger-than-expected rollover, indicating continued investor interest in index positioning.
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In comparison, the Bank Nifty August series rollover reached 80.9%, up from 78.0% in the prior expiry, also exceeding both the three-month average of 77.7% and the six-month average of 68.0%, indicating growing interest in the sector and strong conviction in the current trend.
The market-wide rollover for the August series registered at 95.33% on Thursday, up from 93.38% at the same point last expiry, surpassing both the three-month average of 92.8% and the six-month average of 92.7%. This strong rollover indicates a broad-based confidence in the market and suggests investors are maintaining positions.
For the September series, Nifty Futures opened with 1,69,15,950 shares in open interest, a 4.62 lakh increase from the prior series, alongside a price decline of 1.1%. This indicates that while interest in Nifty remains robust, a mild correction may be underway, reflecting cautious sentiment amid rollover activity.
Meanwhile, Bank Nifty Futures saw a significant rise in open interest, increasing by 9.61 lakh shares to 29,16,760, coupled with a price drop of 3.8%. This surge in open interest may signal an increasing focus on banking stocks despite the price correction, possibly driven by stock-specific developments.
The rollover cost for Nifty in the September series stands at 0.63%, higher than the 0.40% from the prior expiry, reflecting greater demand for long positions but at an elevated cost, indicating bullish sentiment with a slight cautionary bias. Bank Nifty’s rollover cost has also risen significantly to 0.83% from 0.37%, pointing to heightened interest and slightly more expensive hedging strategies within the banking sector.
Stocks such as Jindal Steel, Laurus Labs, IOC, Oil India, and CG Power saw higher rollover on Thursday, signaling stronger investor commitment to these stocks, likely due to favorable outlooks or solid performance trends.
On the other hand, RBL Bank, Maruti Suzuki, Dalal Bharat, HDFC AMC, and Amber witnessed lower rollover activity, suggesting waning interest or cautious sentiment among investors, potentially due to sector-specific concerns or recent performance trends.
The highest rollover in the current expiry was seen in Grasim, Crompton, JSW Steel, Marico, and Torrent Pharmaceuticals, indicating investor preference for these stocks and sectors, likely driven by positive fundamentals or technical setups.
Conversely, the lowest rollover was recorded in RBL Bank, Dalal Bharat, Maruti Suzuki, 360One, and Muthoot Finance, implying reduced confidence or less conviction in these names, which could point to underlying market pressures or sector challenges.
Sector-wise, Chemicals, Telecom, Cement, Technology, and Metals experienced stronger rollovers, indicating sustained positive sentiment in these areas, whereas Textile, Power, Infrastructure, Pharma, and FMCG saw lower rollovers, suggesting potential caution or consolidation within these sectors.