The Hindu Business Line : Shree Renuka Sugars hogs limelight

Chennai, July 9 Turnover improved to Rs 47,907.81 crore on Wednesday in the F&O segment against Tuesday’s turnover of Rs 41,117.91 crore. The Nifty July future, which was ruling at a high premium of about 62 points on Tuesday, narrowed down the discount considerably. It closed the day at 4137.90 against the spot close of 4157.10, a discount of about 19 points. Short-covering coupled with accumulation of fresh long positions helped the Nifty July future recover. The discount was, however, higher for the Nifty August and September futures, indicating the downward bias for the Nifty.

Among the options, Nifty 4200 call was the most active and it added about 2.07 lakh shares. Among the puts, Nifty 4000 strike was the most active and it added about 8.25 lakh shares. Overall open interest in Nifty 4000 put stood at 44.99 lakh shares. Nifty 3900 put also added 6.05 lakh shares in open interest positions, which stood at 24.21 lakh shares. This indicates the cautious mood of market participants.

NSE volatility index or India VIX, which measures the near-term expected volatility, however slipped to 34.27 from 36.04 points.

Stock futures

Reliance was the most active counters, followed by RPL and Shree Renuka Sugars.

Among individual stock counters, Shree Renuka Sugars added 17 lakh shares or 26 per cent in open interest positions and ended at Rs 113.8 against the spot close of Rs 113.20. Cost-of-carry also remained positive, indicating positive bias for the counter.

Despite today’s sharp gains, contracts on Reliance Industries, SBI, DLF, Reliance Infrastructure and Reliance Petroleum witnessed decline in open interest positions.

FII activity

Overseas investors remained net buyers to the tune of Rs 719.66 crore in the F&O segment on Wednesday. Their net buying on index futures stood at Rs 338.26 crore, index options Rs 136.49 crore, stock futures Rs 177.73 crore and index options Rs 22.18 crore.

However, they remained net sellers to the tune of Rs 434.54 crore.

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