9. Who bought and who sold: 23-Oct 13:38 burst and 13-Oct rally (added 25-Oct-2026 08:45 IST)
Short answer. NSE does not publish who traded in a given minute, only end-of-day positions by category (FII, DII, Pro = brokers' own trading, Client = retail and other clients). So the per-minute identities below are inference. The end-of-day positions are direct evidence.
23-Oct 13:38 (+137 futures pts in 5 min): the burst started with aggressive buying in Nifty futures. Nifty futures volume was 8.8x normal, against 3.1x in Bank Nifty futures. The futures premium widened from ~64 to ~85 points, and all heavyweights turned up in the same minute (13:38), which looks like a basket being bought, not stock-specific news. Call writers were the forced buyers: call OI at the 21,950–22,900 strikes fell by ~448k contracts between 13:37 and 13:47 while call premiums rose 38% (22,200) to 84% (22,800). Put writers were the sellers from 13:41: put OI rose by ~93k contracts, with fresh puts written at 22,500–22,600. Futures OI rose (fresh longs, not short covering), but the intraday OI feed is unreliable that day. End of day: Pro added the most index-futures longs (+8,833) and also +7,583 shorts. FIIs added both sides (+2,283 long / +2,166 short, net flat): net buyers of Nifty futures (+1,626 contracts, ₹224 cr) and net sellers of Bank Nifty futures (−2,257, −₹377 cr). Clients sold: they added +2,921 futures shorts and wrote puts (+246,800 short against +102,621 long). FIIs and Pros bought puts. The burst was fully reversed: the day closed −88 with short buildup in Nifty and Bank Nifty futures.
13-Oct (+359): buyers were FIIs and Pros, sellers were clients. FIIs bought 18,726 and sold 12,361 index futures, a net +6,365 made up of 3,217 shorts covered and 3,148 new longs. Pros were net +6,337 (3,052 shorts covered). Clients were net −13,072: they sold 11,981 longs and added 1,091 shorts. Most of the rise came at 09:15–10:00 (+245 spot, IT results; HCL Tech cash volume 10x) while Nifty futures OI fell by ~4,400 contracts, which is short covering. The afternoon leg (14:15–15:00, +98; FM remarks from 14:25) came with futures OI rising (+2,540), which is fresh longs, and call OI in the expiring weekly falling ~966k contracts (call writers covering on expiry day). In cash, FIIs were still net sellers (−₹1,305 cr) and DIIs net buyers (+₹2,439 cr).
Direct: NSE participant-wise index derivatives (contracts; change vs previous session)
| date |
who |
idx fut bought |
idx fut sold |
fut long OI chg |
fut short OI chg |
net fut chg |
call long chg |
call short chg |
put long chg |
put short chg |
net calls |
net puts |
| 2026-10-13 |
Client |
47110 |
60182 |
-11981 |
1091 |
-13072 |
-2656825 |
-2380246 |
-821652 |
-967974 |
-276579 |
146322 |
| 2026-10-13 |
DII |
519 |
149 |
321 |
-49 |
370 |
5546 |
-1659 |
5716 |
-1365 |
7205 |
7081 |
| 2026-10-13 |
FII |
18726 |
12361 |
3148 |
-3217 |
6365 |
-339611 |
-412402 |
-129774 |
-108689 |
72791 |
-21085 |
| 2026-10-13 |
Pro |
31967 |
25630 |
3285 |
-3052 |
6337 |
-646874 |
-843457 |
-275963 |
-143645 |
196583 |
-132318 |
| 2026-10-23 |
Client |
88427 |
91404 |
-56 |
2921 |
-2977 |
468886 |
525230 |
102621 |
246800 |
-56344 |
-144179 |
| 2026-10-23 |
DII |
21547 |
19937 |
-663 |
-2273 |
1610 |
1143 |
66 |
1083 |
166 |
1077 |
917 |
| 2026-10-23 |
FII |
83398 |
83281 |
2283 |
2166 |
117 |
153409 |
143003 |
115545 |
44774 |
10406 |
70771 |
| 2026-10-23 |
Pro |
44859 |
43609 |
8833 |
7583 |
1250 |
293650 |
248788 |
167352 |
94860 |
44862 |
72492 |
Source: NSE fao_participant_oi / fao_participant_vol archives. 'bought/sold' = that day's long/short-side volume. Index futures and options cover all indices (Nifty, Bank Nifty, etc.). 13-Oct was a weekly Nifty expiry, so its option OI changes are mostly expiry settlement.
23-Oct intraday: Nifty and Bank Nifty futures by phase (Upstox 1m)
| phase (IST) |
Nifty spot pts |
Nifty Oct fut pts |
Nifty fut vol (ctr, all exp) |
Nifty fut OI chg (all exp) |
Nifty fut OI chg (Oct) |
BN spot pts |
BN fut vol |
BN fut OI chg |
| 13:20->13:37 |
46 |
48 |
2524 |
1304 |
73 |
132 |
1225 |
1724 |
| 13:37->13:41 |
93 |
102 |
4929 |
1461 |
707 |
191 |
561 |
-494 |
| 13:41->13:47 |
31 |
45 |
7131 |
3568 |
1933 |
48 |
795 |
-136 |
| 13:47->13:54 |
-72 |
-83 |
2045 |
1680 |
405 |
-173 |
531 |
94 |
| 13:54->14:10 |
45 |
38 |
3308 |
-1525 |
-3578 |
111 |
1082 |
407 |
23-Oct intraday: Nifty 27-Oct options, strikes 21,950–22,900 (OI change and volume in contracts)
| phase (IST) |
CE OI chg (contracts) |
PE OI chg (contracts) |
CE volume (contracts) |
PE volume (contracts) |
| 13:20->13:37 |
-4,220 |
1,262 |
1,280,286 |
1,525,925 |
| 13:37->13:41 |
-235,949 |
-10,340 |
1,757,245 |
1,292,753 |
| 13:41->13:47 |
-212,064 |
93,024 |
1,854,387 |
1,662,216 |
| 13:47->13:54 |
-39,803 |
45,689 |
887,144 |
1,482,221 |
| 13:54->14:10 |
26,995 |
18,472 |
1,807,318 |
2,150,528 |
23-Oct burst: heavyweights (cash, 13:36→13:47)
| stock |
Nifty pts 13:36→13:47 |
% move |
cash vol vs 20d |
first +0.15% minute |
| ICICIBANK |
14 |
1 |
1 |
13:38 |
| RELIANCE |
13 |
1 |
2 |
13:38 |
| HDFCBANK |
9 |
0 |
1 |
13:38 |
| LT |
8 |
1 |
1 |
13:38 |
| INFY |
6 |
1 |
3 |
13:38 |
| ETERNAL |
6 |
1 |
3 |
13:37 |
| SBIN |
6 |
1 |
2 |
13:38 |
| AXISBANK |
5 |
1 |
1 |
13:38 |
| BHARTIARTL |
4 |
0 |
1 |
13:39 |
| KOTAKBANK |
3 |
0 |
1 |
13:38 |
All 50 stocks together: +136.8 pts. Banks (HDFCB, ICICI, Axis, Kotak, SBI) +36.7, Reliance +13.2, IT +11.8. Bank Nifty and Nifty turned in the same minute (BN spot +0.19%, Nifty +0.20% at 13:38), so there was no Bank Nifty lead this time. Bulk deals 23-Oct: no Nifty-50 stock appears. Block deals 23-Oct: none.
13-Oct intraday: Nifty futures by phase
| phase (IST) |
Nifty spot pts |
Nifty Oct fut pts |
Nifty fut vol (ctr) |
Nifty fut OI chg (all exp) |
BN spot pts |
BN fut OI chg |
| 09:15->09:30 |
144 |
148 |
8614 |
-2085 |
295 |
-656 |
| 09:30->10:00 |
101 |
106 |
11238 |
-2352 |
144 |
-1070 |
| 13:45->14:15 |
20 |
16 |
2585 |
8 |
49 |
-174 |
| 14:15->14:30 |
22 |
28 |
2746 |
372 |
72 |
212 |
| 14:30->14:45 |
60 |
65 |
5775 |
293 |
182 |
204 |
| 14:45->15:00 |
16 |
16 |
9336 |
1875 |
-8 |
286 |
| 15:00->15:14 |
26 |
34 |
5115 |
-412 |
29 |
780 |
Caveats. (1) Who traded in a given minute is not published; the per-minute identities above are inferred from end-of-day category positions plus OI, premium and options patterns. (2) On 23-Oct (rollover week) Upstox 1m Nifty Oct-futures OI ended at 13.39M against NSE's official 11.32M. Calendar-spread trades are missing from the 1m feed (1m volume = 72% of the day's total), and one bar (13:57) shows a −2,939-contract OI jump on 185 contracts of volume, which is impossible. So the 23-Oct futures 'fresh longs' reading is low confidence. Option 1m OI matched NSE end-of-day within 1–2%. 13-Oct futures 1m volume matched NSE exactly. (3) Spot 15:15–15:29 is not used. (4) 13-Oct bulk/block deals: not available free (NSE historical API returned 503; the archive keeps only the latest day). Data: whoflow/results/, scripts: whoflow/scripts/.