Business Daily from THE HINDU group of publications
Wednesday, Feb 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Feb 06, 2008 ePaper | Mobile/PDA Version |
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Markets
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Derivatives Markets Columns - On the hedge
Our Bureau Chennai, Feb. 5 The dull movement at the bourses seemed to have affected the turnover in the F&O segment. The turnover on Tuesday was Rs 31,121 crore – the lowest since August 14 (not accounting for moorat day transactions). The Nifty February future ended in discount of about three points. Open interest remained more or less same indicating traders reluctance to trade. While Nifty 5500-strike was the most active among the call options, Nifty 5400-strike was the most active among the put option signally a tight range movement for the Nifty future. Stock futuresMomentum counters such as RNRL, Jindal Steel, Reliance Petroluem and IFCI were back in vogue. Jindal Steel was the star performer among them. The February future jumped 13.61 per cent at Rs 2,593.25 but in discount to the spot close of Rs 2,602.30. It, however, saw decline in open interest positions. On the other hand, RNRL February future and IFCI saw smart accumulation of open interest positions. Both the counters ended in premium with respect to their spot closes. FIIs activityForeign institutional investors participation also remained muted on Tuesday. According to the NSE, FIIs remained net buyers to the tune of Rs 69 crore. They bought about Rs 139 crore of index futures and Rs 276.26 crore of index options though they remained net sellers to the tune of Rs 344 crore on stock futures. More Stories on : Derivatives Markets | On the hedge
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