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Our Bureau

Chennai, June 18

Trading volumes volume improved marginally to Rs 47,440.71 crore against Tuesday’s turnover of about 42,624 crore. Nifty June future closed at 4564.85 and the July future at 4552.7 against the spot close of 4582.4. This indicate of rollover of short positions to July Month series.

The Nifty saw a rollover of open interest positions of 10 per cent, which is much lower than the average rollover of about 15-20 per cent witnessed during the previous occasions.

Among the July options, Nifty puts were most active, indicating negative bias for the market. Among them, Nifty 4600 and 4200 strikes witnessed heavy accumulations. On the call side, Nifty July 4700 and 4800 strikes saw sharp accumulations. This indicates a broad range of 4200-4800 for the Nifty.

The NSE Volatility index or India VIX gained marginally to 31.82. This points a negative signal, as it suggests the buying in put options.

Ranbaxy Industries was the most active among individual stock futures. The other active counters include Reliance Industries, Reliance Capital, Reliance Petroleum, DLF and Tata Steel.

Among them, Ranbaxy saw fresh accumulations even in the June contracts. It closed at Rs 599.90 and added 6.21 lakh shares. The Ranbaxy in the spot market closed at Rs 597.50. Lot of arbitrage trades took place due toDaiichi Sankyo open offe, participants are long in July futures and short in August futures.

The July Ranbaxy future closed at Rs 600.55 and the August at Rs 596. However, if Pfizer comes out with a counter offer, then short sellers (in August series) may get trapped.

Foreign institutional investors turned net sellers in the F&O segment on the NSE on Wednesday at Rs 192.64 crore.

They were net sellers in index futures worth Rs 682.33 crore. However, they were net buyers in index options (Rs 359.98 crore) and on stock futures (Rs 133.45 crore).

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