The Hindu Business Line : Stock futures lose open interest positions

The discount widened for Nifty February futures against the spot close on account of fresh short positions. The Nifty futures trail the Nifty spot by 19.7 points against about four points discount on Monday. The Nifty February futures also shed about 2.5 per cent in open interest positions while the Nifty March futures added about 32 per cent or 9 lakh shares in open interest. The rollover of open interest from February series to March stood at nine per cent.

Among the options, 5,300-strikes of call and puts remained active. This suggests that Nifty might see a narrow movement. While the 5300-call witnessed squaring-off of open interest, the 5300-put saw fresh accumulations of open interest positions.

Stock futures

RNRL remained the most active counter followed by Reliance Capital, Reliance Energy, Reliance Industries and Reliance Petroleum. The other active counters include Essar Oil, Reliance Power, JP Associates and SAIL.

All these counters have shed open interest positions. Except Reliance Industries, other contracts were trailing their respective spot closes, indicating addition of fresh short positions.

JP Associates was the worst performer among the active counter. The JP Associate February futures slumped by 7.11 per cent at 264.4 though open interest positions remained flat. The spot price declined 7.07 per cent and closed at Rs 264.25.

Reliance Energy Februarys also shed 4.5 per cent at Rs 1,622.55 and shed about five per cent in open interest positions. The futures ended in discount at Rs 1,622.55 against the spot close of Rs 1,625.85.

FIIs buying

Overseas institutional investors remained net buyers to the tune of Rs 424.68 crore in the F&O segment on Tuesday. Their net buying on index futures stood at about Rs 95 crore, index options about Rs 218 crore, stock futures about Rs 101 crore and about Rs 11 crore on stock options. Their heavy buying on index options indicates that market could see another bout of volatile trading. In the cash segment also, FIIs were net buyers to the tune of Rs 329.25 crore.

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