Business Daily from THE HINDU group of publications
Friday, Jan 04, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 04, 2008 ePaper | Mobile/PDA Version |
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Markets
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Derivatives Markets Columns - On the hedge
Our Bureau Chennai, Jan. 3 Nifty futures saw additions of short positions during Thursday’s trading. As a result, the Nifty January futures, which were commanding a premium of about 40 points, moved into discount (though only by marginally) with respect to the spot close. The Nifty January futures closed down by 0.67 per cent at 6178.20 against the spot close of 6178.55. During most part of the day, the Nifty January futures were trailing the Nifty spot indicating constant pressure on it. Trading volume remained moderate at Rs 70,651.63 crore with stock futures accounting for Rs 50,065 crore on that. Stock futuresRNRL was the most active counter among individual stock futures. Apart from it, Reliance Energy, Reliance Capital, NTPC, Reliance Petroleum, Reliance Industries and Jindal Steel also remained active. The day clearly belonged to ADAG cos — RNRL, Reliance Energy and Reliance Capital, and power companies such as NTPC, PowerGrid and Neyveli Lignite Corporation. NLC was the biggest gainer among them; the NLC January futures jumped 6.6 per cent at Rs 271 while open interest positions improved by about 2 per cent. NTPC and Reliance Energy January futures jumped by 6 per cent while the former witnessed additions of open interest, the latter saw decline in open interest positions. JP Associates January futures also moved up by 6 per cent and saw addition of open interest positions. Stocks under banThe NSE has banned trading in Aptech, Arvind Mills, Bongaigaon Refineries, Essar Oil, Hindustan Oil Exploration, IVR Prime, JP Hydro and Parsvnath Developers and Rajesh Exports, as open interest positions have crossed the 95 per cent of the market-wide limit. More Stories on : Derivatives Markets | On the hedge
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