Business Daily from THE HINDU group of publications
Tuesday, Nov 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Nov 20, 2007 ePaper | Mobile/PDA Version |
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Markets
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Derivatives Markets Columns - On the hedge
Our Bureau Chennai, Nov. 19 Amid volatile trading pattern, Nifty future ended on a flat note. It closed the day at 5925.05, a premium of about 17.4 points over the spot close. Open interest positions also remained flat indicating lot of intra-day dealings. Roll-over of positions is yet to pick up in a big way. About 8 per cent of positions seen rolled over to next December series. Nifty December future saw additions of 17 per cent open interest position. The future, which was in discount to the spot close on Friday, also moved into premium zone indicating additions of fresh long positions. Quite a few momentum counters entered the active list. Among them are Triveni Engineering, IDBI, IDFC and Jaiprakash Associates. Most of these counters not only gained in value but also saw sharp surge in open interest positions. This means traders are betting on new counters rather than the pivotals. However, Reliance counters continued to be in the active radar. Reliance Capital, RNRL, Reliance Energy and Reliance remained active, while Reliance Energy saw a dip in open interest positions. Securities banThe derivative contracts of Neyveli Lignite, Bindal Agro, Nagarjuna Fert, Essar Oil, JP Hydro, Arvind Mills, Adlabs Films and & Reliance Petroleum remained under NSE trading ban as open interest positions have crossed the 95 per cent of the market-wide position limit More Stories on : Derivatives Markets | On the hedge
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