The rollover percentage in Nifty futures October series fell to 76% from an average 81% for the past three series, a report by Nuvama Alternative & Quantitative Research said on Wednesday. It was 82.6% in September, while the six-month average stood at 79.4%.

It noted that at the start of November series, meaningful open interest addition is seen in sectors like telecom, IT, and infrastructure. According to Nuvama, November has historically been a strong month for Indian equities, with the Nifty delivering an average gain of 1.6% over the past decade, though with a more modest 50% hit rate.

The Nifty Bank has shown a greater momentum, averaging 3.5% gains with an impressive 80% hit rate, a trend that could extend the banking sector’s strong performance witnessed in October. Nuvama note

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