New Delhi, Feb. 26 -- The Nifty 50 February 2026 futures contract settled 1% higher on Tuesday, February 24, while the Bank Nifty outperformed, rallying 3.1% during the expiry month.

Nifty's February series rollover stood at 68.2%, falling below the previous expiry's 70.8% and the three- and six-month averages of 70.6% and 75.6%, as the March series commenced with 142.73 lakh shares in open interest (OI), reflecting a decline of 31.54 lakh shares despite a 1% rise in prices.

According to Axis Direct, the contraction in open interest alongside rising prices indicates a cautious undertone, suggesting that the move was largely driven by short-covering rather than aggressive fresh long positions.

In contrast, Bank Nifty rollovers came in a...