The Hindu Business Line : JP Associates, DLF jump; add open interests

Chennai, March 25 Turnover picked up smartly to Rs 66,627 .57 crore – the highest since January 31 turnover – ahead of settlement of March month series.

The Nifty March futures closed in premium at 4884.9 against the spot close of 4877.5 while the Nifty April future closed at 4890.35. The premium was, however, sharply higher on Monday. Squaring up of long positions, as the Nifty future went up quite sharply, seemed to have narrowed down the premium considerably.

Rollover of open interest positions to next month series improved to 40 per cent for Nifty futures.

Among the April options, Nifty 5000 and 4800 calls and 4500 and 4800 puts were active. The 4500-put added over 85 per cent in open interest indicating lot of players still bearish on the market.

Stock futures

Reliance Industries was the most active among individual stock futures. The other active counters include Reliance Capital, Reliance Energy, Jaiprakash Associates, ICICI Bank, Essar Oil, Reliance Communications, RNRL and Shree Renuka Sugars.

Realty counters, particularly JP Associates and DLF saw good amount of accumulation in April series. Both these counters witnessed a rollover of about 40 per cent to April contracts. DLF and JP Associates surged sharply 11.8 per cent and 12 per cent respectively.

Reliance Industries saw a rollover of about 32 per cent. Cement, banking and IT counters also witnessed strong rollovers. Most individual stock futures’ April series trade in a premium. Hindalco and Axis Bank saw sharp rollover of open interest positions.

FIIs buying

Overseas investors continued their buying spree as they were net buyers to the tune of Rs 2,004.98 crore. They were net buyers to the tune of Rs 1,529.57 crore in index futures, Rs 382.37 crore in stock futures, Rs 80.17 in index options and Rs 12.87 crore on stock options.

In the cash segment also, FIIs remained net buyers to the tune of Rs 1,246.12 crore.

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