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Our Bureau

Chennai, Sept. 11 The NSE F&O segment witnessed a turnover of Rs 50,366.39 crore, a marginal decline from the previous day’s figure of Rs 52,717.79 crore. The September future closed at 4290.3 against the spot close of 4300.35. The premium of future with respect to the spot close, however, narrowed down to 10 points against Wednesday’s premium of about 17 points, mainly on account of creation of fresh short positions; unwinding of long positions has also happened, particularly at the start of trading.

Among the options, Nifty 4400 call and 4300 put were the most active; the Nifty 4500 call and 4200 put also witnessed heightened activity. The 4400 call and 4500 put added about 12.98 per cent lakh shares (or 42 per cent) and 23.03 lakh shares (63 per cent) in open interest positions, while the 4300 put saw unwinding of 8.16 lakh shares (16 per cent) in open interest positions. This signals two things: 1) The strong emergence of call writers at 4400 and 4500; and 2) a few traders have booked profits on the puts.

The Nifty could face strong resistance at 4400 and 4500 levels.

Reliance Industries was the most active followed by SBI and Reliance Capital. Most of the stock futures witnessed steep fall in value and added short positions.

Suzlon entered the active zone after a long time. The Suzlon future ended a t 229.45 against the spot close of 227.6. It added about 9.11 lakh shares in open interest positions, most of which were on the short side.

Anil Ambani group stocks – Reliance Communications and Reliance Infrastructure shed open interest positions. While the former shed about 8.57 lakh shares, the latter 2.44 lakh shares, indicating that traders turned nervous on these counters. The RCom future closed at 399.9 on par with the spot close of 399.65 while Reliance Infrastructure ended at 993.95 vs spot close of 992.55.

Reliance Industries, which ended below Rs 2,000-mark at Rs 1,997.4 for the first time in the last three months in the cash market, added about 14.67 lakh shares or 21.33 per cent in open interest positions.

Foreign investors resorted to heavy selling in F&O segment today. They were net sellers to the tune of Rs 1,927.80 crore with bulk of the (net) selling coming in from index futures (Rs 1,233 crore). They have offloaded Rs 505-crore worth index options and about Rs 191 crore worth stock futures.

More Stories on : Derivatives Markets | On the hedge

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