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Our Bureau

Chennai, Aug. 5 The Nifty August future gained on Tuesday with higher turnover of Rs 52,692.78 crore against Monday’s turnover of Rs 43,364.63 crore. In the process, it also widened its premium to about 25 points against Monday’s premium of about 10 points. The widening of premium suggests that fresh long positions have been added on Nifty future, particularly in the second-half of trading.

Among the options, Nifty 4500 and 4600 calls were the most active followed by Nifty 4300 strike. The heavy accumulation in put strike indicates the emergence of put writer, which means strong support for Nifty at this level.

India VIX or NSE volatility index declined to 35.66 against Monday’s close of 40.62, suggesting that downfall fear as unabated.

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

Tata Steel and ICICI Bank witnessed sharp accumulation in open interest positions. Most of the counters ended in premium with respect to their spot closes, indicating the underlying bullishness. Even the SBI future, which trailed the spot by huge discount, closed today at 1576 against the spot close of 1578.4, indicating accumulation of fresh longs.

Foreign institutional investors remained net buyers to the tune of Rs 221.42 crore. Though FIIs were net buyers in index futures (Rs 1,012 crore), they turned net sellers in stock futures (Rs 566 crore), index options (Rs 206 crore) and stock options (Rs 19 crore).

More Stories on : Derivatives Markets | On the hedge

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