The Hindu Business Line : Nifty futures end in red on unwinding of long positions

Chennai, April 2 Trading volumes continued to tumble in the F&O segment on the NSE, as a section of traders did not participate in day’s proceedings. Turnover was Rs 34,170 crore against Tuesday’s figure of Rs 35,886.84 crore.

Nifty futures, which were commanding a premium of over 30 points at Tuesday’s close, surrendered most of the premium with respect to the spot close. Nifty April future closed the day in red at 4757.65, a drop of 0.32 per cent, over previous day’s close and on par with the spot close of 4754.26. Due to unwinding of long positions, particularly in the second half of the trading, it surrendered all the premium. Besides, accumulation of fresh short positions also spoiled the day’s rally. The Nifty April future saw a sharp drop of about 12 per cent in open interest positions.

Stock future

Reliance Industries was the most active counter among the individual stock futures. The other active counters were Reliance Petroleum, Reliance Capital, SBI, SAIL, ICICI Bank, Suzlon, L&T, DLF and Reliance Energy.

Premium dipped for most counters. Among the active counters, Reliance Petroleum saw accumulation of fresh short positions, as the counter witnessed sharp gains in the last couple of days. Reliance Petroleum April future ended at Rs 165.45 against the spot close of Rs 165.40. The counter shed about 5.6 per cent in open interest positions, indicating creating of fresh short positions.

FII turns buyers

After remaining net sellers in the last few days, foreign institutional investors turned net buyers in the F&O segment on Wednesday. They were net buyers to the tune of Rs 1,773.23 crore. They were net buyers of about Rs 1,563 crore in index futures, Rs 164 crore on stock futures, Rs 44 crore on index options and Rs 2 crore on stock options.

However, in the cash segment, they remained net sellers to the tune of Rs 135.65 crore, according to provisional data on the NSE.

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