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Our Bureau

Chennai, Nov. 25

Turnover declined to Rs 44,612.44 crore in the F&O segment on Tuesday against Monday’s turnover of Rs 46,218.94 crore. Despite this being the settlement week for November series, turnover remained muted only, indicating lack of market participant’s interest.

Both November and December Nifty futures closed the day in discount at 2463.25 and 2648.7 respectively against the spot close of 2654. Rollover of open interest positions to November futures stood at 35 per cent; the higher discount for December contracts suggest most of the rollovers were on the short side.

Among the options, 2800 and 2700 calls and 2700 puts were the most active in the current series. While put saw unwinding of open positions, calls added open interests, indicating the emergence of call writers.

In the December contracts, Nifty 3000, 2900 and 2800 calls were the most active. While 3000-strike indicates more number of call writers, the 2900 and 2800 call saw genuine buying. This indicates that Nifty might face strong resistance around 3000 level. On the other hand, 2700 and 2600 December puts saw accumulation, indicating that market might head lower.

NSE Volatility Index slipped in today’s trading below to 59.6, for the first time in a month’s time. It closed at 62.81 on Monday.

Reliance Industries, SBI and NTPC were the top three counters. Most of the counters, which went up on short covering ended lower on lack of follow up long buying.

However, KS Oils saw sharp accumulation on the long side. It added 12.86 lakh shares in December series but shed 4.3 lakh shares in November series.

Reliance Communications sharp accumulation of short positions; the December future added about 20.43 lakh shares and closed at 196 against the spot close of 195.6.

Foreign institutional investors were net buyers in the F&O segment on the NSE to the tune of Rs 644.81 crore on Tuesday.

More Stories on : Derivatives Markets | On the hedge

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