The Hindu Business Line : Nifty sees healthy rollover of positions

Trading volumes turned weak at the F&O segment on the NSE to Rs 39,647 crore against Tuesday’s volume of Rs 46,370 crore as traders preferred to stay on the sidelines.

Nifty April future closed at 4886 and the May future at 4888.10 against the spot close of 4887.30. Both the April and May contracts saw unwinding of long positions, which erased the entire premium they had commanded at Tuesday’s close.

Nifty rollover of open interest positions to May improved to 28 per cent, which is quite healthy compared with previous month. While Nifty May future added about 45 per cent open interest positions, the April future saw a drop of about 9 per cent.

Nifty call

Call options turned active. Among the them Nifty 5000 and 4900 strike were the most active while Nifty 4900-strike was the most active among the put options.

While call options saw sharp jump in open interest, particularly the 5000-strike, it was only marginal increase in open interest positions for 4900 strike. This indicates that the market might move in a tight range.

Stock futures

Reliance Industries, Reliance Petroleum and Orchid Chemicals were the most active counters among stock futures.

The Orchid Chemicals April future saw accumulation of about six per cent in open interest positions and closed at Rs 275.55 against the underlying spot close of Rs 319.7. In the cash segment, the deliverable quantity was just around 4 per cent indicating huge intra-day dealings. It saw huge unwinding of long positions, particularly towards the closing hours, as traders booked their profits. The stock could see a fall tomorrow of the unwinding continues.

FIIs remain buyers

Foreign investors were net buyers to the tune of Rs 1350.86 crore in the F&O segment on Wednesday. Their net buying on index futures stood at Rs 961.82 crore, stock futures at Rs 140 crore and on index options at Rs 211.03 crore.

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