The Hindu Business Line : Nifty July 4000 put added 7.7-lakh shares

Trading volume increased further to Rs 70,250 crore on Tuesday in the F&O segment on the NSE against Monday’s figure of Rs 66,917 crore. The Nifty June future ended at 4171.95 and the July future at 4140.25 against the spot close of 4191.1. The discounts appeared to be huge as the last half-an-hour average close lifted the Nifty spot close.

Rollover of open interest position for Nifty future improved sharply to about 45 per cent, but that is still sharply lower against the earlier average rollover of about 55-60 per cent during this time.

Among the July options, the Nifty 4100 put was the most active. It added about 9 lakh shares in open interest taking the total open interests to 16.21 lakh shares. However, the Nifty 4000 July put came into the active zone for the first time today, and added about 7.7 lakh shares. This indicates that traders are expecting the Nifty to fall below the psychological 4000-mark.

Among the July calls, 4500 and 4300 strikes were the most active. While the former added about 1.77 lakh shares in open interest, the latter saw accumulation of 3.12 lakh shares, suggesting that these two could act as resistance.

Stock futures

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

Among them, Reliance Industries July future saw intense arbitrage activity. While selling was seen Reliance June future, the July series of Reliance witnessed sharp accumulation. While the Reliance June future closed at Rs 2,059.25, the July contracts ended much higher at Rs 2,069.40 against the spot close of Rs 2,062.7. At the time of expiry, both spot and future prices tend to converge, thus helping the arbitrage players.

FIIs activity

Foreign investors stepped up their selling in the F&O segment on Tuesday. They net sold to the tune of Rs 1,086 crore. They offloaded index futures worth Rs 715 crore and index options worth Rs 425.34 crore. However, they were net buyers in stock futures by Rs 60.85 crore.

They were net buyers to the tune of Rs 90.66 crore in the cash segment, according to the provisional data in the NSE.

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