The Nifty Index futures saw fall in open interest by 3.28% for the October series. There was a rise in open interest by 43% and 227% for the November and December series respectively. Implied volatility(IV) fell for put and call Options in the last week. Fell in Nifty put and call option shows unsteady marginal support for Nifty at current levels.
Tata Steel has witnessed rise in turnover and open interest in the stock futures segment. The Stock price of Tata Steel rose by 7.5% in the last week. Tata Steel management has announced that the sales rose by 12% (Y-o-Y) for the Q2FY17. For the first six months of FY17 sales grew by 6%(Y-o-Y).
On 5th October 2015 Tata Steel has allotted 8.15%, unsecured, redeemable non-convertible debentures (NCDs) having face value of Rs.1 million each and total aggregating to Rs.10 billion on a private placement basis.
A rise in turnover and open interest for the stock futures for the October series along with rise in the stock price and stock futures of Tata Steel gives a positive outlook for the steel manufacturer.
Foreign Institutional Investors (FIIs) Derivative Statistics have shown rise in the open interest across Index Futures, Index Options, Stock Options and Stock Futures on a week on week basis.