• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai, Sept. 9

Turnover in the F&O segment dipped further on Tuesday to Rs 43,958.71 crore against Rs 45,977.5 crore witnessed on Monday.

The Nifty September future closed at 4481 against the spot close of 4468.7.

The premium declined to 12.3 points as against Monday’s premium of about 27 points, indicating unwinding of long positions.

Nifty 4500 and 4600 calls and 4400 and 4300 puts remained active.

The Nifty 4600 call saw sharp accumulation 10-lakh shares or 35.5 per cent in open interest positions. On the other hand, 4400 put also added about 11.71-lakh shares or 58.56 per cent. The un-matched bid/ask order book suggests that while puts witnessed the emergence of writers, the call witnessed accumulation.

This means that traders turned bullish and 4400 could act as strong support level.

The NSE volatility index or India VIX also declined marginally to 30.36 (30.77), indicating neutral signal for the market.

Reliance Industries was the most actively traded counter followed by State Bank of India and Sterlite Industries.

Three counters witnessed sharp accumulation open interest but displayed divergent trends. The IFCI future added about 1.65-crore shares or 36.18-lakh shares in open interest and closed at 49.2 against, a gain of about 6 per cent, and the spot close of 48.85.

The Reliance Power counter added 56.43-lakh shares or 52.86 per cent in open interest positions, but ended flat at 169.7 against the spot close of 169.15.

Sterlite Industries, which added 17.88-lakh shares or 30.52 per cent open interest positions, ended weak at Rs 575.35. Most of the stock futures saw unwinding of long positions in today’s trade.

Foreign institutional investors continued their hedging activity.

Though they were net sellers to the tune of Rs 33.39 crore, FIIs were net sellers in stock futures by Rs 577.41 crore, but were buyers in index futures by Rs 450.28 crore.

More Stories on : Derivatives Markets | On the hedge

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line