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Our Bureau

Chennai, May 22 Trading volume zoomed to Rs 45,076 crore in the F&O segment on the NSE on Thursday against Wednesday’s figure of Rs 39,481 crore. The Nifty future witnessed a rollover of about 27 per cent in open interest positions to June series. However, Nifty future, which moved into a premium, once again dipped into discount with respect to spot close.

Nifty future closed at 5017.9 against the spot close of 5025.45. Among the options, Nifty 5000 put was the most active, followed by 5100 call. While the put shed open interest positions, the call option saw accumulation in open interest positions. This suggests that 5000 could be the support level for the Nifty.

The NSE volatility Index or VIX jumped to 34.86 from yesterday’s value of 27.86, painting negative signal to the market. VIX is an indicator that captures the level of fear in the capital markets. When investors turn fearful, the VIX index generally moves higher. The increased number of investors willing to pay for put options show up in higher readings on the volatility index. High readings indicate a higher risk in the market place. We advise investors to trade cautiously in this market.

Reliance Industries was the most-active counter among individual stock futures, followed by Cairn India and Reliance Petroleum. While most stock futures (May expiry) saw sharp dip in open interest positions, SBI May futures added about 3 per cent.

Foreign institutional investors remained net sellers to the tune of Rs 248 crore in the F&O segment, according to a provisional data provided by the NSE. While they were net sellers in index futures (Rs 309.12 crore) and stock futures (Rs 297.28 crore), they remained net buyers in index options (Rs 308.96 crore) and stock options (Rs 49.45 crore).

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