Business Daily from THE HINDU group of publications
Thursday, Oct 25, 2007
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Business Daily from THE HINDU group of publications Thursday, Oct 25, 2007 ePaper | Mobile/PDA Version |
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Stock Markets Markets - Derivatives Markets Columns - On the hedge
Our Bureau Chennai, Oct. 24 Despite only one day left for the expiry of October contract, the Nifty Oct future on Wednesday ended with a steep discount of about 18 points mainly on account of unwinding long positions. The discount was even bigger in the case of Nifty Nov futures at about 40 points, as lot of fresh short positions were added. Turnover at Rs 1.07 lakh crore is the second highest for the F&O segment at the NSE. The all-time high figure is Rs 1.10 lakh crore RolloversNifty future saw a rollover of about 60 per cent to November series, while counters from Reliance pack – Reliance Industries (60 per cent), Reliance Communications (67 per cent) and Reliance Petroleum (65 per cent) — saw healthy rollovers. Apart from Reliance pack, counters such as Arvind Mills, Balrampur Chini, Cairn India, IFCI and PowerGrid saw smart rollovers. Foreign institutional investors turned net buyers in F&O segment to the tune of Rs 2,130 crore on October 23, according to NSE data. Their net buying stood at Rs 1,719 crore for index futures and Rs 610.35 crore for index options. However, they were net sellers to the tune of Rs 205 crore in stock futures. The buying of index options heavily by FIIs indicates that they are expecting the market to be volatile. Securities under banThe NSE has imposed trading ban on counters such as Arvind Mills, Tata Tele Maharashtra and SRF as open interest positions have crossed the stipulated 95 per cent of the market-wide position limit. More Stories on : Stock Markets | Derivatives Markets | On the hedge
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