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Our Bureau

Chennai, Feb. 4 The beginning of the new week started on a promising note for the Nifty February future; it ended with a gain of 2.52 per cent amidst volatile trading condition. However, the Nifty Feb future ended the day in discount with respect to the spot by 8.6 points. During the most part of the day, it was hovering in marginal premium to the spot movement.

Trading volume remained low at Rs 40,169 crore, indicating lack of retail participation. Despite sharp gains, the Nifty February future saw a decline of about 3.7 per cent (according to NSE web site) in open interest positions. This indicates that lot of positions were squared-off during the day itself, capturing the nervousness of day traders, who did not want to carry over their positions.

Nifty 5500-strikes of call and put were the most active among the Nifty options. Both saw sharp accumulations of open interest. While 5500-call closed at Rs 216.7, the put ended the day at Rs 256.1. This indicates that traders are putting higher premium on put, expecting a downtrend.

ADAG counters – Reliance Energy, RNRL, Reliance Communications and Reliance Capital, were the most active counters.

The star performer among them was Reliance Communications. The RCom February future jumped 12 per cent and added about 3.5 per cent in open interest positions. It ended at Rs 689.4, in premium against the spot close of Rs 686.1, indicating fresh long positions on the counter.

Overseas investors remained net buyers in the F&O segment on Monday. Their net buying stood at Rs 2,012.8 crore; while they were net buyers to the tune of Rs 1,599.21 crore on index futures and Rs 677.95 crore on index options, they remained net sellers on stock futures (Rs 254.75 crore).

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