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Our Bureau

Chennai, Sept. 30 Turnover improved marginally to Rs 56,549.65 crore on Tuesday in the F&O segment on the NSE against Monday’s turnover of Rs 55,905 crore. The Nifty October future closed at 3923.15 against the spot close of 3921.2. The premium, which was over 30 points at the end of Monday’s close, narrowed down to just two points today. This was mainly on account of short covering – according to market markets, shorts which were initiated at 4100 & 4200 levels have been covered by traders in today’s dealing, on fears that SEBI might initiate some action on short positions.

Among the index options, Nifty 3800 put and 4000 call were the most active contracts. Besie,s Nifty 4200 and 4100 calls were also active. Both 3800 put and 4000 call genuine accumulation of open interest positions, according to un-matched bid/ask order book on the NSE. This suggests that Nifty might move in 3800-4000 range.

After opening at high at 51.49, the NSE Volatility Index or India VIX increased to 37.19 against the previous day’s close of 34.9.

Many stock futures saw sharp unwinding on short positions. As a result, most of them shed their premium with respect to the spot close. Reliance Industries Oct futures closed a t 1953.5 against the spot close of 1949.35 and added about 1.64 lakh shares.

Contracts on State Bank of India, Larsen & Toubro, DLF and Bharti Airtel ended lower with respect to their spot close prices. This indicates that some short positions have been accumulated towards the closing hours.

ICICI Bank October future closed at 535.9 against the spot close of 535.5 and shed about 1.81 lakh shares. This indicates heavy un-winding of short positions that has lifted the stock price as well.

Foreign institutional investors turned net buyers in the F&O segment on Tuesday; they were net buyers to the tune of Rs 792 crore.

More Stories on : Derivatives Markets | On the hedge

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