The Hindu Business Line : Nifty future trails Nifty by 33 points

Chennai, Nov. 1 Trading activity picked up in the F&O segment on the NSE amidst volatile condition. Turnover at Rs 99,734 crore was much higher than Wednesday’s figure of Rs 71,090 crore. However, Nifty November future turned deep into discount. It now trails the Nifty spot by 33 points against Wednesday’s premium of seven points. This indicates that lot of short positions were added. Open interest positions for Nifty future moved up by seven per cent.

For most of the stock futures also, the premium either dipped sharply or narrowed down. Counters such as National Aluminium, Tata Chemicals and Federal Bank are ruling with huge discounts. However, quite a few such as CMC, Strides Arcolab, Sterling Bio, Kesoram Industries and Orchid Chemicals are ruling with considerable premium.

Counters such as Reliance Petroleum, Reliance Industries and Reliance Energy added open interest while RNRL, Reliance Communications, Reliance Energy, PowerGrid, L&T and GMR Infra witnessed drop in open interest.

Jindal Steel, which was star performer on Wednesday, maintained its bull run. After notching up 25 per cent or Rs 2425, it added another 2.15 per cent.

Securities under ban

The NSE has clamped a trading ban on Arvind Mills, JP Hydro, IFCI and Nagarjuna Fertilizers as open interest positions have crossed the 95-per cent of the market-wide position limit.

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