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Our Bureau

Chennai, Nov 14 After trailing the Nifty spot for most part of the day, the Nifty November future widened its premium.

It now commands a premium of 21.5 points against Tuesday’s premium of 13 points. The discount is as big as 35 points during intra-day. However, open interest positions declined further for Nifty November contracts. It dipped by 6.6 per cent on Wednesday.

The Nifty December commands a premium of about 10 points with respect to the spot close while open interest position accumulation was just modest by 6 per cent. This indicates that not many are willing to rollover positions as the index jumped too sharply.

Despite strong gains, volume remained just modest at Rs 68,270 crore against average daily figure on October Rs 83,350 crore.

Among options, Nifty November 5900 calls and Nifty November 5700 puts remained active indicating the range for Nifty movement.

Among stock futures, Reliance Industries, RNRL, Reliance Energy, Neyveli Lignite, SAIL, MRPL, L&T, SBI, NTPC and Reliance Capital remained active.

While Reliance, RNRL, SAIL, L&T, SBI, NTPC and Reliance Capital witnessed saw decline in open interest positions, momentum counters Mangalore Refinery and Petrochemicals and NLC witnessed accumulation.

Counters such as Balrampur Chini, Omaxe, PowerGrid, Adlabs Film, Reliance Petroluem, Tata Tele Maharashtra and IFCI have attracted NSE ban as open interest positions have crossed 95 per cent of the market-wide position limit.

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