Put open interest divided by call open interest across the strikes on our option chain, for the nearest expiry, updated through the trading day.
NIFTY PCR through today
Bearish (below 0.7) Cautious (0.7–1) Confident (1–1.3) Very confident (1.3+)
NIFTY PCR at each close
Bearish (below 0.7) Cautious (0.7–1) Confident (1–1.3) Very confident (1.3+) Each day (the coloured line is the 5-day average) NIFTY 50
Date
PCR (all expiries)
5 Nov 2026
1.29
4 Nov 2026
1.15
3 Nov 2026
1.50
2 Nov 2026
1.40
30 Oct 2026
1.42
29 Oct 2026
1.31
28 Oct 2026
1.07
27 Oct 2026
1.05
26 Oct 2026
1.11
23 Oct 2026
0.81
All NIFTY option strikes and expiries, from NSE's end-of-day F&O file; history since 2015.
Has a high PCR meant anything?
Since 2015, on days when NIFTY's PCR was among the highest fifth of its year, NIFTY was +1.2% a month later on average (up 66% of the time). When it was among the lowest fifth: +0.3% (up 53%). In India a high PCR has usually meant traders selling puts with confidence, not fear. The link is weak: use it as context. See it alongside the other readings on the market mood page.
How to read the put-call ratio
PCR = open interest in puts ÷ open interest in calls. Most Indian index options are sold by writers, so a high PCR usually means many traders are selling puts, expecting the index to hold above those strikes; a low PCR means call writers expect a ceiling. Very high readings (above about 1.5) can mean the market is stretched; very low (below about 0.7) that traders are bearish. Compare it with its own recent range rather than a fixed number, and watch the strikes with the most open interest on the option chain.
From our live option chain recordings and NSE's daily F&O files. Information only, not investment advice.
What is the put-call ratio?
Open interest in put options divided by open interest in call options. Above 1 means more puts are open than calls.
Is a high PCR bullish or bearish?
In Indian index options a high PCR usually means traders are selling puts, expecting support, which is read as bullish; extremes above about 1.5 can mean the market is stretched.
How often does the PCR update?
Through the trading day from the live option chain; the all-expiry NIFTY PCR is added after each close from NSE's F&O file.