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Our Bureau

Chennai, May 15 Turnover improved to Rs 38,196.16 crore in the F&O segment on the NSE on Thursday against Wednesday’s turnover of about Rs 32,920 crore. Nifty May future, which was ruling in premium for quite some, however, dipped into discount. It closed on Thursday at 5112.80 against the spot close of 5115.25, indicating creation of short positions, particularly during the closing hours, when the Nifty surged sharply. Besides, Nifty May future shed 5.32 per cent in open interest positions.

Nifty June future, however, saw a heavy accumulation of 52 per cent in open positions but closed in discount at 5112.60. Among the options, Nifty 5000 put and 5100 call were the most active. While the former added 9.6 per cent in open interest positions, the latter saw an accumulation of 3.3 per cent.

The NSE volatility index or VIX closed at 29.02, down from Wednesday’s 29.22, presenting a positive outlook for the stock. However, the negative cost-of-carry is the worrying factor for the Nifty. Nifty Bank futures saw a drop of over 11 per cent in open interest position ahead of inflation number announcement. It also closed in discount at 7489.85 against the spot close of 7508.15.

Reliance Industries was the most active among the individual stock futures followed by RCom, Shree Renuka Sugars, Tata Steel, Reliance Petroleum, Satyam Computer, Cairn India and Infosys Technology.

Among them, Shree Renuka Sugars, the high-beta stock, was the star performer. While it added about 48 per cent (or 28.3-lakh shares) in open interest positions, the May future jumped 6.14 per cent to end at Rs 138.2. The spot price closed at Rs 137.45. While cost of carry remained positive at 22.74 per cent, the annualised volatility for the stock stood at 86.99 per cent. This indicates that this stock fits for trading only for high-risk takers.

Contracts on Reliance Industries, RCom, DLF, Reliance Petroleum and Cairn India witnessed some shedding in open interest positions. On the other hand, HDIL and Satyam Computer added open interest positions.

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