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Our Bureau

Chennai, Aug. 19 Turnover improved marginally to Rs 43,426.67 crore in the F&O segment on Tuesday against Monday’s turnover of Rs 39,680.22 crore. The Nifty August future closed at 4401 against the spot close of 4368.25, a premium of about 32.75 points. Absence of fresh shorts and additions new long positions seemed to have widened the premium. In fact, the Nifty August future added about 9.5 per cent or 30.39 lakh shares in open interest positions.

Among the options, Nifty 4400 call was the most active and added about 77.62 lakh shares or 12 lakh shares in open interest indicating the underlying bullishness of market participants.

The other active options are Nifty 4500 call and 4400 put, which saw no change in open interest positions.

India VIX or NSE volatility index, which measures the immediate expected volatility of the market, also declined marginally to 34.92 against Monday’s 36.54, but zoomed to an intra-day high of 61.99.

Reliance Industries was the most active counter followed by Reliance Capital, Reliance Petroleum and Shree Renuka Sugars.

Almost all the active counters saw sharp accumulation in open interest positions. Some of them are Reliance Communications (12 per cent), Shree Renuka Sugars (13 per cent), Tata Steel (9 per cent), Larsen & Toubro (8 per cent) and Reliance Petroleum (6 per cent).

Most of them ended in premium, indicating the addition in open interest positions is mainly on the long side.

However, the SBI August future saw a marginal drop of 0.7 per cent in open interest positions but closed at 1462 against the spot close of 1442.45. The higher premium indicates that lot of short positions were squared-off during intra-day itself.

Foreign institutional investors turned net sellers to the tune of about Rs 975 crore in F&O segment on Tuesday. They were net sellers in index futures by (Rs 1,188.29 crore) and stock futures (Rs 328.63 crore).

More Stories on : Derivatives Markets | On the hedge

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