The Hindu Business Line : Refinery counters see open interest

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Refinery counters see open interest

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Chennai, Sept. 6 Despite the introduction of 13 new stocks into the F&O segment, turnover took a marginal dip on the National Stock Exchange.

Turnover on Thursday was Rs 40,927 crore against Wednesday’s figure of Rs 42,642.91 crore. The Nifty future closed at 4507 against Nifty spot close of 4518.8; the discount was about 11 points. This discount, which was as high as 35 points during intra-day, narrowed down considerably towards the close of the trading indicating that shorts were squared and a lot of fresh long positions were added in the later part of the day. That could partially account for the sharp up-move in the markets in the afternoon.

Out of 207 securities, options on 145 underlying securities got traded. and SBI was the next most active futures contracts with 32,757 contracts being traded.

Refinery counters — Chennai Petroleum and Bongaigaon Refinery & Petrochemicals Ltd saw accumulation in open interest, with an improvement in the share price.

Second-rung banking counters — Dena Bank, Andhra Bank, Karnataka Bank and Axis Bank also witnessed increase in open interest positions.

Among the open interest losers were Escorts, Cipla and Rolta India.

Securities in ban period

NSE has banned trading on derivative contracts of GMR Infrastructure, Escorts, IFCI and Tatatele Maharashtra, as open interest in these securities have crossed 95 per cent of the market-wide position limit

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