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Our Bureau

Chennai, June 10

Trading volume remained firm at Rs 53,893.3 crore against Monday’s volume Rs 58,333.52 crore. Thanks to short-covering in the closing hours, Nifty future recovered sharply from day’s low level. It closed at 4440.95 against the spot close of 4449.80. Open interest improved marginally by 2.9 per cent or 11.10 lakh shares. Cost-of-carry still remains in negative, which indicates that traders are not willing to carry over their positions.

Among the options, Nifty 4400 put was the most active. Among the others Nifty 4500 call, Nifty 4200 put, Nifty 4300 put, and Nifty 4500 puts remained active. Among them, Nifty 4400 put and Nifty 4500-call saw decline in open interest positions, suggesting profit bookings by put buyers and call writers.

While 4200 and 4300 puts saw sharp accumulations, 4400-call added open interest positions. This Nifty is heading lower towards 4300 and 4200 levels.

The NSE volatility index or India VIX slipped to 30.23 against Monday’s index of 32.43. The fall in volatility index generally considered as positive, as this indicates emergence of call buyers.

Stock futures

Reliance Industries was the most active counter followed by Reliance Petroleum and Ranbaxy. The June future of Ranbaxy was the star performer as it jumped 7 per cent added about 3.66 crore shares in open interest. It ended in premium at 564 against the spot close of Rs 560.75. Cost-of-carry also remained positive indicating all round bull signals for the counter.

After remaining on the positive side for last few days, overseas investors turned net sellers on Tuesday. Their net selling stood at about Rs 537 crore.

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