Nifty put-call ratio remains high

Nifty July futures on Monday closed at 4302.30, a discount of 11.45 points to the spot index and up 8.9 points from the previous close. The Nifty closed at 4313.75, down 4.55 points from Friday's close.

According to an Edelweiss report, the marketwide put-call ratio was marginally up to 1.21% from 1.14%. The put-call ratio on Nifty futures Open interest dipped to 1.51 from 1.61. The implied volatility of Nifty was also high at 20-23% levels. Put call ratio refers to the ratio of trading volumes of put options to that of call options. A high put-call ratio is perceived as an indication of bearish sentiments and vice-versa. A high PCR on Nifty was a reason for worry, said traders.

The number of contracts traded on the near month series was 2,79,883 and turnover was Rs 6,030.97 crore. Open interest in the near month contract was up 7.61% at 3.44 crore.

The Nifty August contract ended at 4292, discount of 21.75 points to the underlying. Number of contracts traded was 9,174 and turnover Rs 197.17 crore. Open interest in the next month futures was up 38.25% at 9,05,200.

The top traded July stocks futures were GMR Infrastructure, Reliance Capital, Reliance Communications, State Bank of India, IFCI, Divis Laboratories, Reliance Industries, Punj Lloyd, IDBI, and Reliance Petroleum.