The Nifty Index Futures settled 0.17% higher at 24,472 on Wednesday with an open interest addition of 2,495 contracts, indicating a fresh long buildup of positions.

The benchmark NSE Nifty 50 has moved 0.69% in the May contract since last expiry. Open Interest position has been lower by 6.48% during the same period in Futures and higher by 3.67% across F&O.

The Nifty May Futures is trading at a premium of 58 points. The Nifty current Open Interest value is Rs 33,563 crore.

The Nifty Options saw call writing with maximum activity at 24,300 Put and 24,400 Call strike prices. The Nifty Option open interest distribution suggests a trading range between 24,300 and 24,500. The Nifty Open Interest Put Call Ratio is at 0.74.

The Nifty Bank Index Futures settled 0.66% higher at 54,720 with an OI addition of 713 contracts, indicating fresh long buildup of positions.

The Nifty Bank Futures has fallen by 1.07% since last expiry. The Open Interest has fallen by 42% in Futures and across F&O by 57% since last expiry.

Nifty Bank May Futures is trading at a premium of 110 points. The current Open Interest value is at Rs 11,318 crore.

FII Activity

Foreign institutional investors net added a short position worth Rs 152 crore in Nifty Futures, taking the total open interest of the FIIs in Nifty Futures to Rs 17,938 crore compared to the previous day’s OI of Rs 19,050 crore, suggesting the FPIs are short covering.

The FIIs net added a long position worth Rs 464 crore in Nifty Bank Futures, taking the total open interest of FIIs in Nifty Bank Futures to Rs 5,472 crore compared to the previous day’s OI of Rs 5,210 crore, suggesting fresh long positions.

The FII Index long position has risen to 0.50 from 0.49. The long-short ratio has climbed to 1.01 and the FII open interest put-call ratio stood at 1.01 compared to 0.95 on the previous day.

The FIIs net buy was worth Rs 2,585.86 crore in the cash market, as per exchange provisional NSE data.

. Read more on Markets by NDTV Profit.Foreign institutional investors net added a short position worth Rs 152 crore in Nifty Futures.  Read MoreMarkets, Business, Notifications 

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