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Our Bureau

Chennai, Aug. 6 Trading volume rose sharplywith total turnover in F&O segment moving up to Rs 61,180 crore from Rs 52,692.78 crore witnessed on Tuesday.

The Nifty August futures surrendered most of its premium to end on par with the spot close; while the Nifty spot closed at 4217.55, the Nifty August future closed at 4218.9. The premium was about 25 points on Tuesday. The Nifty August Futures saw a 16.65 per cent increase in the open interest.

With the benchmark moving up quite sharply in the last few days, profit booking emerged at higher levels and Nifty future witnessed squaring-up off long positions.

Among the options, Nifty 4600 and 4700 calls were the most active. Both these options added about 31 per cent and 71 per cent respectively in the open interest positions. Among the puts, 4500 and 4400 strikes were the most active and added about 139 per cent and 47 per cent in open interest positions.

The un-matched order book on these calls and puts suggests that call writers and put buyers have emerged aggressively indicating negative bias for the market.

India VIX or the NSE Volatility index slipped marginally to 34.92 from Tuesday’s 35.66.

Reliance Industries was the most active followed by Shree Renuka Sugars, SBI, RNRL and ICICI Bank. Most counters have narrowed down their premium due to profit booking. Contracts on DLF and L&T are ruling with huge discount. While the DLF August future ended at 529.5, its spot closed at 545.1; L&T August future ended at 2743 against the spot close of 2761.2. While the former added about 2 per cent in open interest positions, the latter saw a sharp decline of 11.5 per cent in open positions, indicating accumulation of short positions. The other counters that rule in discount are RNRL, SBI, ICICI Bank and Reliance Capital.

FIIs were net buyers to the tune of Rs 2,364.20 crore in the F&O segment on Wednesday; their (net) bought on index futures stood at Rs 2,332.22 crore.

More Stories on : Derivatives Markets | On the hedge

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