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Our Bureau

Chennai, Oct. 6 Turnover improved marginally to Rs 46,853 crore in the F&O segment on the NSE on Monday against Friday’s turnover of Rs 44,983 crore.

The Nifty October future closed down at 3642 against the Nifty spot close of 3602.35. Though the premium of October appears wide by about 40 points, it was mainly on account of heavy selling in the cash segment. Besides, the last half-an-hour average close also helped the premium to go up marginally.

The Nifty October future added about 33.62 lakh shares in open interest. The un-matched order book on the NSE suggests most of the additions in open interest were on the short side.

Among the options, Nifty 4000, 3800 calls and Nifty 3700 put were the most active; Nifty 3700 put saw profit taking and shed 1.16 lakh shares in open interest as the market tumbled sharply. On the other hand, Nifty 3800 call saw sharp accumulation in open interest positions. Nifty 4000 and 3900 calls also added sharp position in open interest positions. The un-matched bid/ask order book on the NSE suggests that the accumulation on the call side was from genuine buyers who expect the market to move up.

Despite sharp slide, India VIX or NSE Volatility Index dipped marginally to 33.75 against the previous day’s close of 35.1.

Reliance Industries was the most active counter among the individual stock futures. State Bank of India, Reliance Capital and Reliance Petroleum also witnessed heightened activity. The un-matched bid/ask order book suggests that most counters saw accumulation in open interest on the short side.

However, most of them ended in premium with respect to their spot closes.

Foreign institutional investors continued their selling spree. While they have (net) sold Rs 1,009.77 crore worth index futures and Rs 238.82 crore worth stock futures, foreign investors remained net buyers in index options by Rs 53.63 crore.

In all, they were net sellers to the tune of Rs 1,208.6 crore in F&O segment; in the cash segment also they were net sellers by Rs 1,169 crore.

More Stories on : Derivatives Markets | On the hedge

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