Friday, 25 November 2016

November is worst F&O series in 15 months

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Stocks suffered their worst setback in 15 months in the November future and option (F&O) series that concluded on Thursday. The benchmark Nifty fell 7.5 per cent, most since the August 2015 derivatives series. The derivatives contracts expire on last Thursday of every month. Traders rolled over 59.5 per cent November Nifty index futures with next month's series. Nifty rollovers were lowest in four months. Bank Nifty rollover stood at 60.5 per cent, lowest since July 2015. The overall market rollover rate stood at 81.6 per cent, in line with last three months. 

 

The lower than average Nifty and Bank Nifty rollovers come amid weakness in the market due to the economic uncertainty created by demonetisation, said analysts. 

 

The India VIX index, a gauge for market volatility, soared 5 per cent to 17.2 on Thursday. The Nifty index closed at 7,965.5, down 68 points, or 0.84 per cent.

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