Sept F&O: Nifty futures rollover falls below 6-month avg; RBL, PPL, Federal Bank, Tata Power top movers

The Nifty futures rollover for September contracts fell to 52.3%, dipping below the six-month average of 54.5%, signalling a cautious stance among traders, with participants selectively carrying forward positions amid mixed market sentiment.

The Nifty futures rollover was lower than the 63.5% observed on the same day of the previous expiry, and also below the three-month average of 60.2%, according to Axis Securities.

“This indicates a subdued rollover trend and possibly a cautious undertone among traders regarding positions,” the domestic brokerage said in a report.

RBL Bank, Federal Bank, and Tata Power among top rollovers

At the stock level, counters such as RBL Bank , Piramal Pharma , Federal Bank , and Tata Power were among the top rollovers in the F&O segment to the September contracts, suggesting renewed interest or strong positional carry-forward bias in these counters, the report noted.

On the other hand, counters such as Tata Chemicals , Britannia , Apollo Hospitals , Tata Steel , and Tube Investments of India witnessed lower rollovers, reflecting a dip in near-term investor commitment or potential unwinding of positions, as per the report.

Among sectors, textiles emerged as the only segment exhibiting higher rollover activity, pointing to positive sentiment or sector-specific momentum. Meanwhile, sectors such as chemicals, new age, telecom, cement, and technology experienced notably lower rollovers, suggesting cautious positioning or rotational shifts ahead of the new expiry.

Market-wide rollover slips below the 3-month average

Overall, market-wide rollover for September was 64.6%, down from 77.4% a month ago and slightly below the three-month average of 67.4%, though still just above the six-month average of 64.4%. This indicates broad-based caution, albeit with stable medium-term rollover behavior, the report noted.

The Bank Nifty rollover stood at 48%, below last expiry’s 53.2% and the three- and six-month averages of 51.8% and 53.8%, respectively. “This reflects a modest decline in rollover interest and hinting at reduced conviction in the banking sector heading into the new series,” Axis Securities said in its report.

The rollover cost for September contracts stood at 0.49%, marginally lower than the 0.51% recorded during the corresponding period in the previous expiry, indicating relatively steady sentiment, with no significant risk premium being priced in by market participants, it said.