The Nifty 50 ended the October futures and options series with gains, defying massive volatility in the last week.
The benchmark ended the series with gains of 8%. Of the 50 constituents, 38 advanced during the period. This was the fifth F&O series gain for the benchmark index this year. It has declined in the other five.
Top Gainers
Financials, cement and steel stocks were the top performers in the October series. Five of the top 10 Nifty gainers this series were financials.
Top Laggards
Only 12 Nifty stocks posted losses in the October series, with majority coming from PSU units.
UPL Ltd., Bharat Petroleum Corp. and Reliance Industries Ltd. were the top three laggards during the series.
Financials Dominate
The Nifty gained 865 points in the October series, of which 57% was contributed by four stocks — the HDFC twins, Kotak Mahindra Bank and ICICI Bank.
Heavyweight Underperforms
Reliance Industries fell 7% to become the third-worst performer on the Nifty 50 during the October series. The stock, however, contributed the most to the benchmark's decline in absolute terms. This is the first F&O series decline for the stock since March, when the index fell to its low of 7,511, dragged by the coronavirus outbreak.
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