Sun Pharma lost 2 percent post-AGM. Divis Labs fell 7 percent on USFDA observations for unit 2. Dr. Reddy’s Labs was also under pressure.
Nifty rollovers were at 31.13 percent on Tuesday, lower than the 3-month average of 37.67 percent, ICICIdirect said.
The market-wide rollover was at 37.65 percent versus a 3-month average of 35.5 percent. Get Indian stock market free recommendations just on one phone call on 9644405056- SUBSCRIBE NOW AND GRAB YOUR LATEST OFFERS FOR YOU!
The highest rollover was observed in Dewan Housing Finance (62 percent), Dabur (59 percent), Glenmark Pharma (55 percent), Biocon (55 percent) and Muthoot Finance (49 percent).
With just two days to the settlement, rollover activity was significantly low in stocks like OFSS, Divis Lab, Colgate, NIIT Tech and Repco Home Finance.
Rollover in the Nifty picked up momentum due to fresh addition in the next series while roll spread declined further. Nifty September series witnessed the closure of 1.9 million shares while the October series added more than 3 million shares, which prompted an increase in a Nifty rollover. The current open interest in Nifty is close to 17 million shares, which is marginally high compared to the last couple of series, ICICIdirect said.
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