NEW DELHI: November is turning out to be the best derivatives series for the Nifty index so far this year.
The Nifty barometer Nifty50 has jumped 7 per cent during the series.
This is even when four out of top five FO losers are Nifty50 constituents.
UPL, with a gain of 28.8 per cent, is the only Nifty stock among top 10 FO gainers this derivatives series.
Nifty Bank jumped by 6.6 per cent in November series, its best series since May this year.
Among the sectoral indices, Nifty PSU Bank has emerged as the top sectoral performer, rising almost 13 per cent during the ongoing series.
Nifty Metal and Pharma, however, lost lustre during the series, with the metal index plunging 5.7 per cent, emerging as the worst sectoral performers.
Rest all sectoral indices clocked gains.
The volatility index India VIX has eased 5.3 per cent this series, on track to snap the third consecutive monthly gain.
"The VIX has to cool down further below 17-16 zone to get the smooth ride, else multiple barriers could restrict Niftys upside," Chandan Taparia of Motilal Oswal Securities said.
Among stocks, Adani Power jumped 65 per cent this series, followed by BEML (42.7 per cent), PC Jeweller (up 40.6 per cent), Jet Airways (34.6 per cent) and Raymond (32 per cent).
NCC (32 per cent), Infibeam Avenues (30.5 per cent), Godfrey Phillips India (30.5 per cent) and Oriental Bank of Commerce (30.2 per cent) also gained in November series.
Losers were led by YES Bank (down 18.3 per cent), followed by Equitas Holdings India (down 16.2 per cent), Cipla (down 15.4 per cent) and Sun Pharma (down 13 per cent).
JSW Steel (down 12.6 per cent), Coal India (down 12.2 per cent), SAIL (down 11.9 per cent), Mangalore Refinery and Petrochemicals (down 11.8 per cent), NTPC (down 11.6 per cent) and NMDC (down 11.1 per cent) also lost big, featuring among the top 10 losers of the series.