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Our Bureau

Chennai, Jan. 7 Thanks to a short-covering, the NSE Nifty January future moved into premium of about 9.15 points with respect to the spot close.

Trading volumes remained moderate around Rs 70,000-crore with stock futures accounting for Rs 49,094 crore of that.

Open interest positions improved in Nifty futures by 5 per cent, according to the NSE Web site and cost of carry turned to positive.

Annualised volatility at 31.42 per cent indicates another volatile day is in the offing.

Among the Nifty options, 6200-call and 6300-call and 6200-put and 6000-put were active indicating that Nifty might rule in 6000-6300 range.

RNRL was the most active counter. Other active counters include Reliance Energy, Reliance Petroleum, Reliance Industries, Reliance Communication, ICICI Bank, IFCI, Reliance Capital and ITC.

RNRL and ITC, however, stole the limelight in today’s trading.

RNRL January future jumped 9.22 per cent at Rs 229.85 against the spot close Rs 227.95 and added about two per cent in open interest positions.

ITC gained about 6 per cent at Rs 233.05 against the spot close of Rs 231.3.

But it shed about 4 per cent in open interest positions indicating that the gain was also due to some short-covering.

The NSE has banned 14 counters – Adlabs Films, Aptech, Arvind Mills, Bongaigaon Refineries, GMR Infrastructure, Hindustan Oil Exploration, Hotel Leelaventure, IFCI, Ispat Industries, IVR Prime, JP Hydro, Nagarjuna Fertilisers, Parsvnath Developers, Rajesh Expo, SRF and Tata Tele Maharashtra, as open interest positions have crossed the 95 per cent of market-wide positions.

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