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Our Bureau

Chennai, Sept. 24 Trading volume dipped marginally in the F&O segment to Rs 67,051.71 crore on Wednesday against Tuesday’s Rs 68,368.66 crore.

The Nifty September future closed at 4182.25 and the October future at 4196.5 against the spot close of 4161.25. The premium of Nifty futures widened with respect to the spot close mainly on account of short-covering, ahead of the settlement of September future on Thursday.

The rollover of Nifty future to the October series stood at 43.7 per cent, which is marginally lower than the previous comparative periods.

Among the call options (October), 4500, 4400 and 4300 strike remained the most active. Among them, the unmatched bid-ask order book suggests that 4500 saw call writing (selling). This suggests that the Nifty could face strong resistance at that level.

Among the Nifty October put options, 4200, 4000 and 4100 were the most active. All the three witnessed accumulations in open interest, indicating the downward bias of the market. Quite interestingly, October 3800 put shed open interest positions. This indicates that 3800 could act as strong support for the Nifty.

Reliance was the most active. Among the individual stock futures, Sterlite Industries was in the limelight. Its September future closed at 489.7 and the October future at 492.45 against the spot close of 487.9 The September future shed about 4.67 lakh shares, while the October future added about 17 lakh shares (or 56 per cent in open interest positions).

The rollover of 56 per cent in open positions suggests positive bias towards the stock.

The rollover of open interest position for other stock futures also remained muted.

However, ICICI Bank October futures added about 27.8 lakh shares in open interest positions.

Foreign institutional investors remained net sellers to the tune of about Rs 110 crore in the F&O segment on Wednesday. In the cash segment as well, they were net sellers to the tune of about Rs 495 crore, according to the provisional figures.

More Stories on : Derivatives Markets | On the hedge

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