The Hindu Business Line : Chambal Fertilizers’ open positions zoom

Chennai, Aug. 12 Turnover picked up sharply to Rs 52,641.81 crore from Monday’s figure of about Rs 39,700 crore. The Nifty August future closed at 4560.45 against the spot close of 4552.25.

The premium of Nifty futures narrowed down due to unwinding of long positions. It added about 8.65 per cent in open interest positions over Monday.

Among the options, Nifty 4600 call and Nifty 4500 put were the most active. The other active options were Nifty 4700 all and Nifty 4600 put.

The Nifty 4700 call saw strong emergence of call writers, indicating the possibility of Nifty breaching that levels rather remote. On the other hand, some genuine buying happened on Nifty 4600 put, suggesting further fall in Nifty future.

However, Nifty 4400 put also witnessed emergence of put sellers (or writers), pointing the support level of Nifty.

The NSE Volatility index or India VIX, which measures the immediate volatile condition in the market, inched up marginally to 33.89 from Monday’s close of 31.37.

Stock futures

Reliance Industries was the most active followed by Reliance Capital and Tata Steel. Chambal Fertilizers, Infosys Technologies also entered the active zone.

The Chambal Fertilizers August future saw sharp accumulation of 48 per cent or 44.85-lakh shares in open interest positions. It gained 4.12 per cent to close at 86.8 against the spot close of 86.

The other counters that saw sharp accumulations in open positions are Tata Steel (17 per cent) and Infosys (16 per cent).

However, both these counters slipped sharply. The Tata Steel August future closed with a fall of 5.4 per cent to 610.8 against the spot close of 607.9; The Infosys August future slipped 3.5 per cent at 1618.5 against the spot close of 1603.9.

The increase in open interest positions with fall prices indicate a negative outlook for those stocks.

FII activity

Foreign investors turned net sellers to the tune of Rs 868 crore in the F&O segment on Tuesday.

They offloaded about Rs 768 crore worth index futures and Rs 212 crore worth stock futures.

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