The Hindu Business Line : Nifty Oct future premium dips

Chennai, Oct. 16 Amidst volatile condition, trading activity picked up in the F&O segment on the NSE on Tuesday. Turnover stood at Rs 91,752 crore against Monday’s figure of Rs 76,830 crore.

However, the premium of Nifty future, which stood at 34.5 points on Monday, wiped out entirely as Nifty future closed at 5668, a drop of 21 points from the previous day’s close.

Bullish signal

Despite the fall, open interest positions surged by 8.75 per cent for the Nifty future, while the cost of carry stood at 5.8, indicating underlying bullishness. There was smooth accumulation on Nifty November future too, indicating sharp rollovers. Nifty November future also commands a premium of about 5.9 points.

Sharp Surge

All the actively contracts – Reliance Energy, Reliance Capital, Reliance Communication, PowerGrid, Reliance Industries, Reliance Petroleum and NTPC – saw sharp surge in open interest positions.

On the other hand, Satyam Computer and MphasiS BFL witnessed drop in open interest positions.

Securities under ban

The NSE has imposed trading ban on IFCI, Triveni Engineering, Tata Tele Maharashtra, Nagarjuna Fertilizers, Arvind Mills, IDBI, JP Hydro & Adlabs Films, as open interest positions have crossed the 95 per cent of the market-wide position limit.

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