Business Daily from THE HINDU group of publications
Tuesday, Jan 01, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 01, 2008 ePaper | Mobile/PDA Version |
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Markets
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Derivatives Markets Columns - On the hedge
Our Bureau Chennai, Dec. 31 The NSE January future gained 0.73 per cent at 6162.95, which is a premium of about 25 points against the spot close of 6138.60. The Nifty January future added just 3.15 per cent in open interest positions. Trading volume also dipped to Rs 46,187 crore, which is also the lowest for the month. Stock futures accounted for bulk of the trading at Rs 32,445 crore followed by index future, which saw a turnover of Rs 9,765 crore. Momentum stocks regained their prominence once again in the F&O segment. Counters such as RNRL, IFCI, Essar Oil, Jindal Steel, IDFC and IOC were among the most active stocks. Among them, IFCI was back in the limelight. The counter, which plummeted following the cancellation of stake sale deal, jumped 13.65 per cent. It also added 8.4 per cent in open interest positions. This indicates that investors turned bullish. Today’s rise could be attributed the RBI announcement allowing foreign institutional investors’ to hike stake in the company to 74 per cent. IOC jumped 7.45 per cent and added 9.40 per cent in open interest positions. Foreign institutional investors’ remained net sellers to the tune of Rs 547.56 crore in the F&O segment on December 28, according to the latest data available with NSE. While they were net sellers in index futures (Rs 241.45 crore) and stock futures (Rs 1,174.76 crore), they bought Rs 868.65-crore worth of index options. Securities under banThe NSE has suspended trading on Adlabs Films, Arvind Mills and Parsvanath as open interest positions have crossed the stipulated 95 per cent of the market-wide position limit. More Stories on : Derivatives Markets | On the hedge
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