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Our Bureau

Chennai, Sept. 10 Turnover improved substantially to Rs 52,717.79 crore in the F&O segment on Wednesday against Tuesday’s turnover of Rs 43,958.71 crore. The Nifty September future ended at 4417.25 against the Nifty spot close of 4400.25. It saw an accumulation of 48.11 lakh shares or 15.39 per cent in open interest positions. Towards the closing hours, it added more long positions, helping the Nifty future to widen its premium with respect to the spot close.

Among the options, Nifty 4500 call and 4400 put were the most active. While the call added about 18.92 lakh shares or 62 per cent, the put added 2.07 lakh shares or 6.85 per cent in open interest positions. The unmatched bid/ask order book suggested the emergence of call writers, indicating that 4500 could act as tough resistance. The 4300 put saw shedding in open interest positions, indicating large-scale profit booking.

Reversing the downtrend, the India VIX or NSE Volatility index moved up; it closed at 32.12 against the previous day’s close of 30.36. This indicates the emergence of cautious mood among the trading community.

Reliance Industries was the most active followed by SBI and ICICI Bank. IFCI, which added about 1.65 crore share in open interest on Tuesday, accumulated another 98.14 lakh shares on Wednesday. It ended the day weak by 3.14 per cent at 47.55 against the spot close of 47.5. The unmatched bid/ask order book and the spot-future difference suggest that today’s accumulations were mainly on the short side.

Sterlite Industries also witnessed accumulation of short positions; it added 32.1 lakh shares or 52.53 per cent in open interest positions and closed at 510.3 against the spot close of 507.55.

Most counters witnessed fresh accumulation in open interest positions, particularly towards closing hours.

Overseas investors turned net sellers on Wednesday. They were net sellers to the tune of Rs 1,267 crore. FIIs offloaded heavily in both index and stock futures, though they were net buyers in index options.

More Stories on : Derivatives Markets | On the hedge

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