The Hindu Business Line : United Phosphorus sees accumulation in open interest

Trading activity picked up in the NSE derivative segment amidst volatile condition. A higher turnover of Rs 41,739 was witnessed on Tuesday against Monday’s figure of Rs 37,333 crore.

Nifty future, which was able to narrow its discount vis-À-vis Nifty spot on the back of squaring of short positions as well as a few additions of long positions, maintained its gap around the previous day’s level.

As against Monday’s discount of 8.5 points, Nifty future now trails the Nifty spot by 11.5 points, indicating heightened day-trading activity.

For the second consecutive day, United Phosphorus and Rolta India saw accumulation in open interest.

Neyveli Lignite and Vijaya Bank were the other two counters that witnessed accumulation of open interest.

On the other hand, unwinding of open interest was seen in Arvind Mills, Indian Bank and Corporation Bank.

Securities under ban

The NSE has banned the trading in the derivative contracts of Arvind Mills and JP Hydro as open interest in these stocks have crossed 95 per cent of the market-wide position limit. However, the ban was lifted on GMR Infrastructure, Bongaigaon Refineries and Tata Teleservices (Maharashtra) as they have shed some open positions from the ceiling.

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