The Hindu Business Line : Ranbaxy, Infy see surge in open positions

Nifty July future, which closed Friday with a discount of about 28 points, narrowed down considerably to 12.4 points on account of heavy short-covering.

The Nifty July future closed at 4027.3 and the August future at 4011.65 against the spot close of 4039.7

The Nifty July future shed about 17.92 lakh shares in open interest indicating unwinding of long positions.

Towards closing hours, it also saw fresh short positions. Cost-of-carry remained at negative 13 per cent, indicating cautious outlook for Nifty.

The Nifty August future added about 2.7 lakh shares in open interest.

Among the options, Nifty 4100 call and the Nifty 4000 put were the most active.

However, both did not see much change in open interests.

But Nifty 3900 put saw sharp accumulation of 5.74 lakh shares or 25.08 per cent in open interest positions.

India VIX or NSE Volatility index, which measures the immediate volatility in the market, slipped to 31.51 against Friday’s close of 33.01. Reliance Industries was the most active followed by Ranbaxy, Infosys Technologies and Reliance Capital.

Among them, Ranbaxy saw sharp accumulation in open interest positions though the counter tumbled by over 10 per cent. The Ranbaxy July future ended at 478.05 against the spot close of 475.3 while cost-of-carry remained positive at 16 per cent.

Infosys Technologies July future also tumbled 7 per cent at 1564.9 against the spot close of 1555.55. It added about 5.09 lakh shares.

The July future contracts — Reliance Industries and Reliance Capital ended with higher premium while that of SBI and Tata Steel closed in discount.

FII activity

Foreign institutional investors continued their bet on index futures. They were net buyers to the tune of Rs 511.43 crore in the F&O segment on Monday. While their net buying on index futures stood at Rs 715.44 crore, they were net sellers in index options at Rs 221.49 crore and stock futures at Rs 20.84 crore. However, they were net buyers in stock options by Rs 38.31 crore.

Overseas investors remained net sellers in cash segment to the tune of Rs 436.52 crore.

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