The Hindu Business Line : FIIs pumped in Rs 4,255 cr on Wednesday

Chennai, Sept. 20 The day after the big move witnessed heightened volatility in the Nifty futures. It finally ended on par with Nifty spot to close at 4747.25 thus wiping out the premium of over 10 points that it commanded at Wednesday’s close.

Trading volumes remained robust at Rs 58,327 crore against Wednesday’s Rs 68,643 crore, of which, stock futures accounted for Rs 40,067 crore.

The top 10 contracts contributed to around 29 per cent of the total traded volume in futures on individual securities.

Among the options, Nifty 4700 put and Nifty 4800 call were the most active (in October series), indicating a strong support around 4700 and a resistance at 4800 levels. DLF was the most active futures contracts with 49,412 contracts and Reliance was the next most active futures contracts with 40,325 contracts being traded.

Arbitrage opportunities

The futures contracts on Rajesh Export, United Phosphorus and Biocon are trading in premium to their respective spot prices, thus providing arbitrage opportunities.

FII net buyers

FII bought a net Rs 4,255 crore of Indian equity derivatives on Wednesday. Open interest rose 3.06 per cent to Rs 64,107 crore. Overseas funds bought a net Rs 2,458 crore on Wednesday in the cash segment, according to provisional figures provided by the NSE.

Securities under ban

The NSE has banned trading in the contracts of IFCI, Rajesh Expo, Bindal Agro, Tata Tele (Maharashtra), Bongaigaon Refineries, GMR Infrastructure, Arvind Mills, Neyveli Lignite Corp, Essar Oil and Nagarjuna Fert as open interest positions in these stocks have crossed the 95 per cent mark.