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Second-rung IT counters see accumulation

Nifty future turns into premium

Our Bureau

Chennai, Sept. 13 Trading volume remained around the 41K-mark on the NSE in F&O segment on Wednesday. After remaining in discount for quite a long period, the Nifty future moved into premium albeit marginally; it now commands a premium of 1.4 points. This is mainly due to addition of fresh open positions by traders. Open interest positions improved 0.69 per cent to 3.80 crore. Index futures saw a trading volume of Rs 10,072.38 crore and stock futures witnessed a volume of Rs 26,555.69 crore.

The top 10 contracts contributed to around 38 per cent of the total traded volume in futures on individual securities. Reliance Capital was the most active future contracts on individual securities followed by Reliance. Power majors — PFC and Neyveli Lignite — also turned into active trading zones.

Second-rung tech counters such as CMC, Tech Mahindra, Nucleas Software and Aptech Training have seen accumulation in open interest positions. On the other hand, Triveni Engg, Nagarjuna Fert and Deccan Aviation saw some shedding.

Futures of Sterlite Optical, Shipping Corporation and GMR Infrastructure command premium with respect to their underlying equities while National Aluminium, Alok Industries and Hinduja TMT were trading in discount to the spot prices.

Securities under ban

NSE has imposed trading ban on Bindal Agro, Tata Teleservices Maharashtra, Escorts, Bongaigaon Refineries, Nagarjuna Fertilizers, IDBI and IFCI as open interest positions have crossed 95 per cent of the market-wide position limit.

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