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Our Bureau

Chennai, Dec. 4 Despite sharp gains, trading volumes remained moderate at Rs 34,123.92 crore in the F&O segment on the NSE on Thursday against Wednesday’s figure of Rs 33,606 crore.

The Nifty December future turned into premium thanks to sharp unwinding of short positions as well as accumulation of fresh long positions towards closing hours. The Nifty future closed at 2796 against the spot close of 2788 and added about 41.94 lakh shares in open interest. Cost-of-carry also turned positive, indicating bullish undertone.

Among the options, Nifty 2800 and 2900 calls and 2600 and 2500 puts were the most active. The 2700 call saw accumulation of 7 lakh shares in open interest. The 2600 and 2500 puts also witnessed additions of 9.53 lakh shares and 8.7 lakh shares in open interest, but most of them on the writing side. This indicates that Nifty faces strong support around these levels.

The NSE Volatility Index or India VIX, which measures the immediate expected volatility of Nifty, closed weak at 51.84 against the previous day’s close of 54.66.

Reliance Industries was the top traded counter followed by SBI and Bharti Airtel. Reliance saw sharp unwinding of short positions besides accumulation of long positions. Capital goods sector – L&T and BHEL, however, saw accumulation of short positions. L&T future closed at 744.1 against the spot close of 748.2 while BHEL ended at 1351.15 (spot close 1357.7).

Tata Steel continued its smart rally and closed at 184 against the spot close of 187.2. It added about 12.9 lakh shares. It also witnessed unwinding of long positions, as traders booked profits.

Similarly DLF also witnessed profit booking; the counter closed at 213.4 against the spot close of 213.45. It added about 7.12 lakh shares in open interest.

Foreign institutional investors were net sellers to the tune of Rs 882.44 crore in the F&O segment on Thursday. They were net buyers in index futures by Rs 769.22 crore and in stock futures by Rs 89.68 crore. They also made net investments in index options (Rs 8.95 crore) and stock options (Rs 14.59 crore).

More Stories on : Derivatives Markets | On the hedge

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