The Hindu Business Line : Nifty Nov future sheds open interest

Chennai, Nov. 13 Braving intra-day volatility, Nifty November future closed on Tuesday with sharp gains. However, its premium dipped sharply to about 13 points against Monday’s premium of 29 points, mainly on account fresh short positions. Open interest declined by 4.74 per cent. Nifty December future, however, closed on par with the spot close; open interest, however, improved by 16 per cent indicating rollover of positions.

Among the options, Nifty 5800 call and Nifty 5500 put remained indicating that the Nifty may move in that range.

Stock futures

Neyveli Lignite Corporate, which is witnessing sharp run-up on price front, also saw a decline of about five per cent in open interest positions.

However, Reliance, Power Grid, SBI and Reliance Capital saw accumulation of open interest positions. Contracts such as Rolta India, Matrix Lab, Hindustan Construction, Adlabs Films and Syndicate Bank also witnessed accumulation of open interest positions.

Momentum counters

Bongaigaon Refinery, JP Hydro, Ansal Properties, MRPL, Essar Oil and Nagarjuna Constructions, however, saw sharp decline in open interest positions. Among actively traded counters, L&T shed about 10 per cent open interest.

F&O under ban

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