Nifty Set to Start May F&O Series: Key Events to Watch in May 2025

On April 25, 2025, the May Futures & Options (F&O) series is poised to open on a cautious note. While the GIFT Nifty initially indicated a gap-up opening, it failed to hold onto early gains. As of 8:55 AM, the index had slipped 0.15% to 24,489.50, reflecting a mixed market sentiment.

The Nifty closed out the April series with its second straight monthly gain, posting an impressive rise of 655 points. Yet, the bigger headline is the market’s strong recovery, rebounding over 2,500 points from the lows seen earlier in the series. This sharp turnaround underscores a resilient bullish undertone despite intermittent volatility.

Rollover Trends

Nifty rollovers into the May series came in at 79%—just below the three-month average of 80.1%, yet marking an uptick from April’s 76.1%, signaling a modest pickup in trader confidence heading into the new series.

Open Interest Snapshot

At the onset of the May series, Nifty’s open interest stands at 1.15 crore shares—its lowest level since January—reflecting a noticeable decline from the past three months and indicating a more cautious buildup in positions.

Key Events to Watch in May 2025

The trajectory of the markets in May 2025 is expected to be shaped by a mix of domestic cues and global developments. Here are the key factors that could drive sentiment:

• Q4 Earnings Season: Corporate results for the March quarter will be in sharp focus. Investors will look for strong performance and forward-looking guidance to validate the recent market rebound and sustain momentum.

• FOMC Policy Decision (May 7): The U.S. Federal Reserve’s upcoming interest rate decision could act as a major global catalyst. Any shift in tone regarding inflation, rates, or economic growth may ripple across emerging markets, including India.

• Global & Geopolitical Developments: Broader macroeconomic signals and geopolitical headlines—particularly comments or actions from U.S. President Donald Trump—could inject volatility and influence risk appetite.

Also Read: NSE Revises F&O Expiry Days: Monthly, Quarterly, and Weekly Contracts Shift to Monday

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