F&O: Nifty February futures index close broadly flat against Nifty 50 on expiry
Nifty February futures index on the day of its expiry ended broadly flat compared to the Nifty 50. On Thursday, the 50-scrip benchmark of NSE extended its five consecutive days drop as worries for more rate hikes escalate after the central bank’s minutes revealed that inflation is still high and it needs to be brought down.
The February month futures index on NSE expired on Thursday.
As per NSE, the Nifty February futures index closed at 17,511.90 compared to the previous reading of 17,566.90. The traded volume on Thursday in the February futures was to the tune of 1,69,247.
The latest closing of Nifty February futures is on the similar lines of Nifty 50.
The 50-scrip benchmark closed at 17,511.25 down by 43.05 points or 0.25%.
However, counterparts Nifty March futures which will expire on March 29, closed at a premium of 117.65 at 17,628.90 — compared to Nifty 50. Also, the April futures index climbed by 222.75 against the Nifty 50 to close at 17,734.00.
The total F&O turnover on NSE jumped sharply on Thursday to over ₹403.97 lakh crore — compared to the previous day’s turnover of more than ₹190.08 lakh crore.
On Nifty 50, Rupak De, Senior Technical Analyst at LKP Securities said, “the benchmark Nifty remained volatile on the last day of February’s F&O expiry. During the day, Nifty managed to hold above the morning low of 17455.”
Going ahead, he added, “the low of 17455 is likely to act as immediate support for the falling Nifty. A decisive fall below 17450 may trigger the resumption of the fall. In that case, it may fall down towards 17200–17150. However, failure to break down may induce a recovery towards 17750–17850, where the upper band of the falling channel lies.”
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