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Our Bureau

Chennai, Nov. 3 Trading volume remained subdued at Rs 34,113.94 crore against Friday’s turnover of Rs 36,959.23 crore. The Nifty November future turned into premium, albeit by just about two points; it ended at 3045.25 against the spot close of 3043.85. It added about 6.53 lakh shares in open interest positions, the unmatched bid/ask order book suggests most of the additions were on the long side.

With the market reversing the trend, calls turned most active. Among them, 3200, 3300, 3100 and 3400 strikes were the most active. Among the puts, 2800, 2700 and 3000 strikes witnessed spurt in activity.

The 3200-call saw the maximum accumulation of 8.16 lakh shares in open interest positions, followed by 3400, which added 7.8 lakh shares, and 3300-strike witnessed addition of 7.09 lakh shares.

On the other hand, 2800-put witnessed an accumulation of 6.09 lakh shares in open interest positions, and 2700-strike 4.22 lakh shares and 3000 put added 4.49 lakh shares.

However, the un-matched order book suggests that the accumulation on put side was mainly on sell side, indicating that Nifty might face strong support at lower levels. Calls, however, witnessed strong emergence of buyers, pointing a positive bias of the market.

India VIX or NSE Volatility index, which captures the immediate expected volatility of the market, remained firm at 67.84 points against Friday’s 69.32.

Reliance, SBI and Infosys were the top counters. NTPC and Reliance Petroleum witnessed sharp drop in open interest positions. While the former shed 16.52 lakh shares, the latter witnessed a decline of 2.02 lakh shares.

It seems foreign investors are unwinding their short positions in these counters. SEBI data revealed that FIIs lent these shares to overseas investors, who in turn went short on them.

Infosys witnessed accumulation of short positions. It’s November future ended at 1374 against the spot close of 1378.6.

More Stories on : Derivatives Markets | On the hedge | Reliance Petroleum Ltd | NTPC Ltd

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