The Hindu Business Line : Strong rollover seen in Jindal Stainless, PNB

Chennai, March 26 Trading volumes remained moderate in the F&O segment on the NSE on Wednesday, as turnover stood at Rs 57,628 crore against Tuesday’s Rs 66,627 crore. Nifty futures maintained the healthy premium with Nifty March future ending at 4841.10 and the April future at 4835.65 against the spot close of 4828.85.

Nifty future saw a rollover of about 52 per cent, while the overall market-wide rollover stood at 50 per cent.

Among the April options, 4800, 5000 and 4900 strikes were the most active for call and puts. Among them, 4900-strike for both put and call added significant amount of open interest positions. This indicates that traders were not sure of market direction.

Stock futures

Reliance Industries was the most active counter among the individual stock futures. Reliance Capital, Reliance Energy, Tata Steel, Reliance Communications, SAIL, Essar Oil, Reliance Petroleum and SBI were the other most active counters.

While Reliance Industries saw a rollover of 56 per cent in open interest positions, Reliance Capital saw 52 per cent.

Tata Motors, which inked a deal with Ford for Jaguar & Land Rover, saw a rollover of 57 per cent. The Tata Motors April future closed at 678 against the spot close of 678.5. Tata Motors March future closed at 681.20. This indicates that more short positions were rolled over to April series.

Jindal Stainless, Punjab National Bank, Reliance Petroleum and Tata Tele Maharashtra also witnessed strong rollover in open interest positions.

Most individual stock futures (April) ended in premium with respect to the spot closes indicating rollover of long positions.

FIIs buying

Foreign institutional investors’ remained net buyers in the F&O segment on Wednesday. They were net buyers to the tune of Rs 285 crore; they bought Rs 103.13 crore worth of index futures, Rs 289.41 crore worth index options though they were net sellers to the tune of Rs 111.23 crore on stock futures.

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