Business Daily from THE HINDU group of publications
Tuesday, Apr 29, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Apr 29, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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Derivatives Markets Columns - On the hedge
Our Bureau Chennai, April 28 It was one of the dullest day at the bourses asturnover tumbled to the lowest this year; today’s turnover stood at Rs 25,459.22 crore against Friday’s figure of Rs 33,831.87 crore. Despite low volumes, Nifty May future ended in premium of about 16 points with respect to the spot close and added about 2.5 per cent in open interest positions. Among the Nifty 5100 call and 5000 put were the most active. Stock futuresThe most active counter among the individual stock future is RNRL. The other active counters include Reliance Industries, ICICI Bank, Shree Renuka Sugars, Reliance Communications, Reliance Petroleum, Bharti Airtel, Reliance Capital and Tata Steel. Among them, RNRL May future shed about 9.7 per cent in open interest positions and ended at Rs 123.1 against the spot close of Rs 123.55. The other momentum counter Shree Renuka Sugars also witnessed a drop in open interest positions by 6.25 per cent and ended at Rs 132.25 against the spot close of Rs 131.65. The other counters which saw decline in open interest positions include Reliance Industries, Tata Steel, Reliance Petroleum and Reliance Capital. However, contracts on Bharti Airtel, ICICI Bank and Reliance Energy saw accumulation in open interest positions and also ended in premium with respective to their spot closes. Banking stock futures declined along with low open interest while the Bank Nifty future was down with increase in open interest. This suggests that fresh short positions have been initiated in the banking counters ahead of RBI’s crucial monetary policy. More Stories on : Derivatives Markets | On the hedge
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