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Markets
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Derivatives Markets
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On the hedge
Momentum counters lose steam
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Premium widens for Nifty futures
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Chennai, March 24
Despite this being the settlement
week, trading volumes
remained low in the futures
and options segment on the
NSE on Monday. Volatile conditions
seemed to have kept
the players on the sidelines as
turnover dipped to Rs 42,610
crore against Wednesday's
turnover of Rs 46,365 crore.
However, the premium for
Nifty March futures and Nifty
April futures widened further
indicating creation of fresh
long positions. Good amount
of short-covering was also
seen, particularly during the
fag end of the trading hours
that lifted Nifty futures into
positive territory.
The Nifty March future
closed at 4642 and the April
future at 4639 against the spot
Nifty closed at 4609.
Nifty future saw about 25
per cent rollover in open interest
positions to April
series.
Among the options, Nifty
4600 and 4700 call options
remained active while on the
puts 4600 was the most active
indicating short-term range
for the Nifty movement.
STOCK FUTURES
Among the individual stock
futures, Reliance Industries
was the most active. The other
active counters include Reliance
Energy, Reliance Capital,
ICICI Bank, Essar Oil,
DLF, Shree Renuka Sugars,
RNRL, Reliance Petroleum
and Tata Steel.
The momentum counters -
Shree Renuka Sugars, RNRL,
Essar Oil, DLF and Reliance
Petrluem - were the worst affected
among them. Shree Renuka
was the most volatile
among them. Except for Essar
Oil, the other momentum
players ended in premium to
their respective spot close.
FIIS BUYING
Foreign institutional investors'
remained net buyers on
Monday to the tune of Rs
1,901.35 crore. Their net buying
on index futures stood at
Rs 1,838.78 crore and on stock
futures at Rs 239.52 crore.
However, they were net sellers
on index and stock options,
albeit marginally.
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