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Our Bureau

Chennai, July 29

Turnover jumped to Rs 64,804.21 crore on Tuesday in F&O segment on the NSE against Monday’s turnover of about Rs 45,000 crore. Nifty July future maintained its premium over the spot close and it closed at 4198.9 against the spot close of 4189.85. The Nifty August future ended at 4188.7; rollover of open positions to August series for Nifty is quite healthy at 47.5 per cent.

Among the August options, Nifty 4000 and 4200 put were active; on the call side, 4500 and 4400 strikes witnessed heightened activity. This indicates that Nifty could move in 4000-4500 range in August.

NSE Volatility index or India VIX, which also known as ‘investor fear gauge’ and ‘fear index’, jumps to 61.73 points, the level that it did not see so far. The volatility index moves higher when the stock prices are declining and it moves lower when the stock prices are rallying. Since the volatility index is derived from the prices of index options with 30 days to expiry, it reflects the near term expectations of the investors. When markets decline sharply, the perception of risk increases and this is reflected in the higher price of index options.

Reliance Industries was the most active followed by Reliance Capital, SBI and ICICI Bank.

Most of the active counters turned into discount.

The counters which rule in discount are SBI, Reliance Capital, ICICI Bank, DLF and ONGC.

Tata Steel saw a sharp drop in open interest positions. The Tata Steel July future closed at 586.15 against the spot close of 584.45.

The Bank July futures ended in discount at 5418.95 against the spot close of 5422.15 and the August futures at 5419.9.

Rollover of position was meagre at 28.6 per cent and today’s trade witnessed accumulation of short positions, particularly in August contracts.

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