The Hindu Business Line : Orchid Chem open interest jumps

Trading volumes continued to be depressed at the F&O segment on the NSE. Tuesday accounted for a turnover of Rs 33,143 crore, a marginal improvement from Monday’s turnover of Rs 32,302.8 crore.

Nifty April future which closed on Monday with marginal premium, however, dipped into discount. It now trails the spot Nifty by 14.8 points. Open interest positions remained about the previous day’s level. This indicates that lot of dealing was intra-day in nature and traders are not willing to carry over their positions, as they not sure how the market will open on Wednesday.

Among the options, puts – 4500, 4600 and 4700 strikes –were the most active. On the call side, Nifty 4800 attracted huge interest. While Nifty 4500 put shed open interest positions, Nifty 4800 call added about 25 per cent in open interest positions. This indicates the range for the Nifty movement.

Even in the option markets, not many are willing to carry forward their positions as they are not sure of the direction of market.

Stock futures

Orchid Chemicals was the most active on the back of take over talk. The April future closed at 237.7 and added 39 per cent in open interest positions. The Orchid Chemicals spot closed at Rs 240.10. However, the counter witnessed lot selling, particularly towards the closing hours, which pushed down the future price below the spot.

The other active counters include Reliance Industries, Reliance Capital, BHEL, RPL, Larsen & Toubro, Essar Oil, Reliance Energy, SAIL and SBI.

Among them BHEL saw heavy unwinding of 22 per cent in open interest positions as it gained about 4 per cent. The BHEL April future closed at 1710.1 against the spot close of 1714.25, indicating creation of fresh short positions.

Larsen & Toubro declined sharply to Rs 2586.6 but in premium to the spot close of Rs 2584.15. It added about 24 per cent in open interest positions.

It was mainly intra-day dealings in R-pack counters.

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