The Hindu Business Line : Intense intra-day activity in ICICI Bank

Turnover tumbled on the first day of the new settlement series in the derivative segment on the NSE. Monday’s turnover stood at Rs 32,155.44 crore against Friday’s figure of Rs 44,951.66 crore.

The NSE Nifty future, which commanded a higher premium of 16.5 points on Friday, ended in discount at 2680 against the spot close of 2682.9, mainly on account of un-winding of long positions that were built on Friday. The Nifty December future added about 30.61 lakh shares (or 10%), most of which short rollovers.

Among the options Nifty 3000 and 2900 calls and 2700 and 2600 puts were the most active. The calls witnessed writing activity, indicating that Nifty may find it difficult to move up. However, puts saw steady accumulation indicating downward bias.

The NSE Volatility index or India VIX, which measures the immediate expected volatility of the Nifty, declined marginally to 55.26 against the previous day’s close of 57.44. This indicates that market might move in a tight range.

Stock futures

Reliance Industries was the most active followed by SBI and Infosys. Most of the individual stock futures ended in discount with respect to the spot close, indicating un-winding of long positions.

They also saw short positions accumulation towards the closing hours. NTPC saw sharp build-up of short positions. The NTPC Dec future closed at Rs 154.05 against the spot close of Rs 156.45 and added about 8.17 lakh shares.

ICICI Bank, on the other hand, added only about 3500 shares in open interest but closed sharply lower at 328.9 against the spot close of 325.55. This indicates the counter saw high intra-day trading as most of the traders have squared-off their short positions during the closing hours.

DLF, which was battered in today’s trading, added about 5.56 lakh shares. It ended at 178.55 against the spot close of 178.7. This indicates that lot of short positions have been squared-off in today deals itself.

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