The Hindu Business Line : Higher FII activity lifts turnover

Chennai, Feb. 26 Turnover picked up smartly in the F&O segment on the NSE on Wednesday to Rs 63,526.76 crore against Tuesday’s turnover of Rs 56,515.69 crore. FIIs accounted for 46 per cent of today’s turnover.

The improvement in the turnover is due to the nearing settlement as traders indulge in squaring-off and carry over their open interest positions.

Nifty futures

After remaining in the premium for most part of the days, the Nifty February futures ended in discount of about 11.5 points at 5257 against the spot close of 5268.4; the Nifty March futures ended with a discount of about 30 points at 5238.35.

Those who went long on Nifty February futures on Tuesday seemed to have squared off their positions today to book profits.

Nifty futures saw a healthy rollover of about 69 per cent to March month contracts.

Stock futures

Among the individual stock futures, Reliance Capital was the most actively traded counter.

It was followed by Reliance Industries, Reliance Energy, RNRL, Essar Oil, Reliance Communications and Tata Steel.

While most single stock February futures ended in discount to their respective spot closes, their March contracts closed in premium. This indicates that a lot of long positions were rolled over to next month series.

Rollovers

Cement and select pharma counters saw healthy rollover of open interest positions to next month series.

Stocks which saw healthy rollovers are ACC, Alok Textiles, Amtek Auto, Aurobindo Pharma, Bharat Forge, Century Textiles, CPCL, Grasim Industries, GE Shipping, Hindalco, India Cement, Jindal Steel, JSW Steel, S Kumar Nationwide, Sun Pharma and UltraTech Cement.

FIIs turnover

Foreign institutional investors picked up quite sharply; they were net buyers to the tune of Rs 1,352.06 crore.

Their net buying on index futures stood at Rs 1,621.07 crore and Rs 30.41 crore on index options.

However, they remained net sellers to the tune of Rs 287.8 crore on stock futures and Rs 11.62 crore on stock options.

They were net buyers to the tune of Rs 350.45 crore in the cash segment, according to provisional data from the NSE.

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