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Our Bureau

Chennai, May 21

Turnover improved to Rs 39,481.17 crore in the F&O segment on Wednesday against Tuesday’s turnover of Rs 33.290.93 crore. Nifty May future, which was trailing the spot Nifty by around 17 points on Tuesday, moved into premium. It now commands a premium of 9.4 points over the spot close, mainly due to short-covering, towards second-half of trading session.

Among the options, Nifty 5000 put and 5100 call were the most active counters. Both saw marginal accumulation in open interest positions, indicating neutral outlook on the market.

The NSE Volatility index or India VIX has jumped 11.48 per cent to 27.86 from Tuesday’s index value of 24.99. This indicates the cautious mood of the market participants. Volatility index is a good indicator of the investors’ perception on how volatile markets are expected to be in the near term. The rise in the index reading is generally considered to be negative, as more traders are willing to buy put options, expecting a fall in the market.

HDIL was the most active counter among individual stock futures. The other active counters include Reliance Industries, Cairn India, Reliance Petroleum and Tata Steel.

Among them Reliance Industries hogged the limelight as its future added about 5.25 per cent in open interest positions. The Reliance May future closed at Rs 2677.90, in premium to the spot close of Rs 2,667.70. Short-covering during the later part of the day also helped buoy sentiment for the counter. Cost-of-carry is also positive, indicating positive outlook on the stock.

Foreign institutional investors remained net sellers to the tune of Rs 800.32 crore in the F&O segment on Wednesday, according to a provisional data provided by the NSE. They remained net sellers of index futures (Rs 562.37 crore) and stock futures (Rs 474.67 crore).

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