NSE's derivatives segment traded a full five session week, after last week's four session week was shortened by a holiday. Futures turnover came to INR 823,936.9 crores and options premium turnover to INR 332,262.2 crores. The Nifty 50 rose 1.93%, from 22,661.3 to 23,098.9, and Bank Nifty rose 0.50%, from 54,552.2 to 54,823.4, a broadly positive week after last week's heavily short skewed one. Tuesday 27 October was the monthly derivatives expiry, rolling both the futures book and large parts of the options chain partway through the week. Here is the detail, based on insights from bhavcopydata.com.
Futures, the expiry rollover leaves only two buildup categories standing
Matching open interest and price from Friday 23 October to Friday 30 October only works for contracts that survived on both dates. Tuesday's monthly expiry rolled every October contract off the book partway through the week, so the only fair comparison left is between the November and December contracts, all of which were already trading as the far month on both dates. Every one of the 422 stock futures contracts that cleared INR 1 crore of turnover this week gained open interest over that window, a mechanical result of money rolling out of the expired October book and into the next two months rather than a change in conviction either way. With open interest rising almost everywhere, the usual four way split collapses to two categories this week, Long Buildup where price also rose and Short Buildup where it fell. 325 contracts landed in Long Buildup against 97 in Short Buildup, and not a single stock future recorded Short Covering or Long Unwinding.
Infosys Limited (INFY) led Long Buildup by turnover, its November contract up 3.58% on INR 13,064.1 crores as open interest rose 221.8%. ICICI Bank Limited (ICICIBANK) rose a flat 0.16% on INR 8,980.8 crores as open interest still climbed 35.2%, Bharti Airtel Limited (BHARTIARTL) rose 4.19% on INR 7,962.4 crores, Laurus Labs Limited (LAURUSLABS) rose 21.28% on INR 6,793.3 crores, the week's largest single stock move, State Bank of India (SBIN) rose 0.30% on INR 6,245.1 crores, Kotak Mahindra Bank Limited (KOTAKBANK) rose 6.70% on INR 6,074.0 crores, Larsen and Toubro Limited (LT) rose 5.43% on INR 5,518.7 crores, and BSE Limited (BSE) rose 8.23% on INR 5,036.4 crores.
On the other side, Reliance Industries Limited (RELIANCE) fell 1.90% on the week's largest single contract turnover, INR 16,440.1 crores, open interest still rising 55.6%. HDFC Bank Limited (HDFCBANK) fell 0.39% on INR 12,786.6 crores and Axis Bank Limited (AXISBANK) fell 0.19% on INR 4,915.1 crores, both banks staying close to flat after last week's sharp reversal, but open interest kept building on the short side in both, up 41.0% and 35.4%. Tata Consultancy Services Limited (TCS) fell 0.84% on INR 5,278.5 crores, Jio Financial Services Limited (JIOFIN) fell 0.08% on INR 3,322.4 crores, Varun Beverages Limited (VBL) fell 0.89% on INR 3,296.5 crores, Coal India Limited (COALINDIA) fell 2.00% on INR 2,933.8 crores, and Shriram Finance Limited (SHRIRAMFIN) fell 3.79% on INR 2,840.5 crores.
Away from the index heavyweights, a handful of smaller contracts showed the sharpest percentage buildup, backed by turnover large enough to trust. Ambuja Cements Limited (AMBUJACEM) fell 2.52% as open interest rose 1086.0% on INR 44.2 crores, Kaynes Technology India Ltd (KAYNES) fell 6.74% as open interest rose 962.4% on INR 183.7 crores, and Cholamandalam Investment and Finance Company Limited (CHOLAFIN) rose 8.56% as open interest rose 278.0% on INR 74.3 crores.
Options, the Nifty chain turns toward puts by the end of the week
Tuesday was also the weekly Nifty options expiry and the monthly Bank Nifty options expiry, so both chains rolled contracts the same day the futures book did. The expiring Nifty contract's put call ratio by open interest moved from 0.7374 on the prior Friday to 1.1256 on Monday and settled at 1.0288 at Tuesday's close, on a combined INR 111,880.5 crores of turnover across the two days. The following week's contract then took over for the rest of the week, opening at 1.0546 on Monday and climbing to 1.6238 by Friday's close, puts clearly outweighing calls by the end of the week, on INR 129,157.5 crores of turnover, the single busiest contract on the site this week.
Bank Nifty's expiring October contract carried INR 15,378.3 crores of turnover across Monday and Tuesday alone, more than its entire November contract managed across all five sessions, INR 11,230.8 crores. The ratio on the October contract fell from 0.798 to 0.558 into expiry, calls building relative to puts as the contract wound down, while the November contract's ratio drifted the other way through the week, 0.8775 on Monday to 0.9543 on Friday. The Nifty Financial Services index (FINNIFTY), the smallest of the three indices tracked here, saw a combined INR 619 crores of premium turnover across its two live contracts this week, a fraction of what either Nifty or Bank Nifty traded in a single session.
Among single stocks, Reliance Industries Limited (RELIANCE) options were the most active at INR 1,870.8 crores of premium turnover, followed by Laurus Labs Limited (LAURUSLABS) at INR 1,210.8 crores, consistent with its rally in the futures segment the same week, HDFC Bank Limited (HDFCBANK) at INR 842.9 crores, Infosys Limited (INFY) at INR 708.2 crores, and BSE Limited (BSE) at INR 606.4 crores.
Smart money crossover, two large exits meet fresh short buildup
We checked whether this week's largest block and bulk deal activity lined up with futures positioning in the same direction, and two names stood out, both on the short side. Sagility Limited (SAGILITY) saw a large shareholder sell a stake worth INR 2,394.6 crores in a single bulk deal on Friday, detailed in full in our main weekly wrap, and its November futures contract fell 4.52% the same week as open interest rose 52.5%, fresh shorts building alongside the stake sale rather than against it. Its December contract showed the same pattern, down 4.72% as open interest rose 106.2%.
Swiggy Limited (SWIGGY) showed a smaller version of the same pattern. A block trade exit worth INR 981.8 crores by a large shareholder on Friday came alongside a 0.70% fall and a 62.7% rise in open interest on its November futures contract, and a 0.39% fall with an 82.7% rise in open interest on its December contract. Short buildup in the derivatives market, in both names, moved the same week as a large holder reduced its stake in the cash market, a rare case in this series of block and bulk activity and futures positioning pointing the same direction.
Track the full daily breakdown on the Futures and Options pages. More insights are on bhavcopydata.com.
All figures are from NSE end of day futures and options data for 26 to 30 October 2026, as published on bhavcopydata.com. See the Futures and Options pages for the full daily breakdown, and follow the author at @psanivarapu or prashanthsanivarapu for more.