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Our Bureau

Chennai, Dec. 5 Thanks to a sudden pick up in the later part of the trading, Nifty futures registered handsome gains. The Nifty December future closed with a widened premium of about 38 points with respect to the spot close due to the additions of fresh long positions. The premium on Tuesday was 19 points.

However, trading volumes remained moderate at Rs 57,522 crore, indicating cautious mood of market participants. The top 10 contracts contributed to around 32 per cent of the total traded volume in futures on individual securities.

As has been the trend in the recent past, the momentum counters have been witnessing the centre of attraction in the F&O segment.

Ispat Industries was the most active future contract with 65,158 contracts being traded and Reliance was the next most active future contract with 26,025 contracts. On value term, Neyveli Lignite was the most active followed by RNRL, Ispat Industries, SAIL, GMR Infra and Jindal Steel.

However, SAIL, Jindal Steel, Reliance Industries and MRPL witnessed decline in open interest positions.

Ispat Industries was the star performer among them. While the counter jumped about 25 per cent, open interest positions surged by 40 per cent. The Ispat future closed at Rs 69.45 against the spot close of Rs 68.45, indicating traders interest. Interestingly, the counter also attracted a lot of trading interest on the option market too.

The derivative contracts of SRF, Tata Tele Maharashtra, JP Hydro, Essar Oil, IFCI, Rajesh Expo, Adlabs Film, Arvind Mills, Nagarjuna Fertilizers and Bongaigaon Refineries have been suspended from trading as open interest positions have crossed the 95 per cent of the market-wide position limit.

More Stories on : Derivatives Markets | Stock Markets | On the hedge

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