The Hindu Business Line : Neyveli Lignite Corp star performer

Chennai, Nov. 12 Amidst low volumes, Nifty November futures ended in premium of about 29 points to the Nifty spot close thanks to short covering, particularly during the later part of the day. Open interest positions declined 5.17 per cent for Nifty November futures.

The NSE F&O segment witnessed a trading volume of Rs 56,771 crore against November average daily figure of about Rs 70,000 crore.

Trading will continue to be moderate as there are a few domestic triggers and overseas markets are weak at the moment on worries over the US sub-prime mortgage market.

Today’s star performers are Neyveli Lignite Corporation and SBI. The NLC November future gained 17.65 per cent while open interest surged 17.7 per cent.

Though SBI November future gained four per cent, open interest positions declined by 1.17 per cent indicating additions of short positions towards the later part of the day.

Reliance Natural Resources, Reliance Energy, Neyveli Lignite, Reliance Capital, Reliance Industries, Power Grid, State Bank of India, Mangalore Refinery and Petrochemicals and Larsen & Toubro were the most active contracts; most of the counters command premium over the spot close.

Among the counters that commanded higher premium are LMW, Matrix Lab, BHEL, Amtek Auto and Hinduja TMT while contracts on Reliance Petroleum, Tata Chemicals, Adlabs Films, Tulip IT and HCL Technologies trail their respective spots.

Securities under ban

The NSE has banned the trading on Nagarjuna Fert, Reliance Petroleum, SRF, GMR Infra, Tata Tele Maharashtra, Essar Oil, IFCI, Bongaigaon Refinery and JP Hydro, as open interest positions have crossed 95 per cent of the market-wide position limit.

More Stories on : Derivatives Markets | On the hedge

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page