• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• 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. 16

Turnover spurted sharply on the NSE to Rs 74,094.75 crore against Wednesday’s volume of Rs 58,546.48 crore in the F&O segment. The volume of contracts traded for Index futures at 12.94 lakh was the highest since August 17, 2007, which saw 14.25 lakh contracts changing hands. Today’s surge in volume was mainly on account of short covering; traders who went short on Nifty future at 4300 and 4200 levels have wound up their position. Accumulation of fresh long positions was also seen during the closing hours of trading.

The Nifty September future ended 4044 against the spot close of 4038.15. It added about 32.46 lakh shares in open interest.

Among the options, Nifty 4000 and 4100 calls and 3800 put were the most active. The 4100 call saw an accumulation of 3.43 lakh shares in open interest and the put 8.9 lakh shares. This suggests the strong emergence of writers at these levels, indicating the support at 3800 and resistance at 4100.

The NSE Volatility Index or India VIX, which measures the immediate expected volatility of market, jumped to 39.56 from Wednesday’s 33.99 points.

Reliance Industries was the most active counter. Most of the counters witnessed shedding in open interests and also saw their cost-of-carry turning into negative. This means not many traders are willing to rollover their positions, as they were unsure of market direction.

ICICI Bank witnessed heavy short covering. It shed about 4.68 lakh shares open interest positions. The ICICI Bank September future closed at 578.1 against the spot close of 577.15. The cost of carry stood at negative 16.21, signalling the negative bias for the stock.

The other counters that shed open interests include Reliance Industries, Reliance Petroleum and Reliance Capital.

Foreign institutional investors remained net buyers in the F&O segment on Thursday at Rs 995 crore even though they were net sellers in the cash segment by about Rs 1,201.6 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