The Hindu Business Line : Chambal Fert hogs the limelight

Chennai, May 28 Trading volume surged to Rs 56,333.67 crore ahead of settlement day as lot of traders indulged in squaring-off and rollover activities. On Tuesday, the turnover was Rs 49,968.5 crore. Nifty May future ended at a 12.65-point premium to the spot, as investors covered short positions a day ahead of expiry of the May derivatives contract.

The Nifty May future closed at 4931 against the spot close of 4918.35, while the June future closed at 4917.50, indicating a lot of short positions being rolled over to next month series. Nifty future witnessed rollover of about 57 per cent in open interest positions. Among the options, 4900-strike was quite active as traders resort to unwinding their position ahead of the expiry.

India VIX

NSE Volatility Index jumped to 32.63 against Tuesday’s index value of 28.59 points, painting a 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. Generally higher readings indicate a higher risk in the market place. We advise investors to trade cautiously in this market

Stock futures

Reliance Industries was the most active counter followed by Reliance Petroleum, Tata Steel, Chambal Fertilisers. Among them the star performer was Chambal Fertilisers May future, which jumped 15.43 per cent. Despite only a day left for expiry, Chambal Fertilisers added about 11 lakh shares or 2.50 per cent.

FIIs buying

The overseas investors turned net buyers to the tune of Rs 1,501.25 crore on Wednesday. They were net buyers in index futures worth Rs 523 crore, stock futures (Rs 234.44 crore), index options (Rs 643.08 crore) and in stock options by Rs 100.81 crore. However, in the cash segment, they remained net sellers to the tune of Rs 883.23 crore, according to NSE’s provisional data

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