• 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, Nov. 10 Despite sharp rally, turnover tumbled quite sharply to Rs 30,290.49 crore on Monday against Friday’s figure of 36,963.32 crore, indicating low level participation. The Nifty November future premium stood at about 20 points, mainly on account of short covering. It added about 25.15 lakh shares in open interest and cost-of-carry also turned positive, indicating positive undertone of the market.

Among the options, Nifty 3200 call and 3000 put were the most active. The other active options include Nifty 3100 call, Nifty 2900 put, Nifty 3300 call and Nifty 2800 put.

While the 3200 call added about 2.42 lakh shares in open interest, the 3000 put accumulation of 9.79 lakh shares. The un-matched bid/ask order book suggests the emergence of put writers at 3000, 2900 and 2800 strikes. This indicates that Nifty could face strong support around these levels.

India VIX or NSE Volatility index, which measures the immediate expected volatility on the markets, remained firm at 63.76 against the previous day’s close of 67.22. This suggests that Nifty might see heightened volatility.

Reliance Industries, SBI and Infosys Technologies were the top three counters. Most of the counters ended in discount. Among them were DLF, ICICI Bank, Reliance Capital, HDFC Bank and Reliance Communications.

Tata Steel added about 13.59 lakh shares in open interest. It ended at 216 against the spot close of 214.3. The other counters that saw sharp accumulations were ICICI Bank and RCom.

Suzlon Energy shed 6.55 lakh shares in open interest positions and closed at 69.3 against the spot close of 68.85.

Foreign institutional investors have reduced their buying/selling activities. They were net sellers to the tune of Rs 81.9 crore; though they were buyers in index futures, they have offloaded stock futures and index options. In cash market they were, however, net buyers to the tune of Rs 92.33 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