The Hindu Business Line : Hindalco sees long built-up

Trading volume remained moderate at Rs 73,500.18 crore on Thursday. The Nifty March futures closed at 5255.6 against the spot close of 5245.9. Only 19 per cent of the open interest positions got rolled over to next month series. The Nifty April futures closed at 5258.6 and added 11.26 lakh shares.

Though the 5000 puts' open interest positions stood at 1.21 crore – the highest among the options, it witnessed a marginal decline in the last couple of days. This indicates unwinding of position.

Volatility Index, after registering a new low at 17.32 during intra-day, finished slightly higher at 17.97 against the previous day's close of 17.73.

Stock futures

Tata Steel was the most active. Most of the individual stock futures shed open position. However, Hindalco futures added 20.36 lakh shares or 8.25 per cent in open interest; it closed with a premium at 178.15 against the spot close of 177.5.

Indian Hotels was the other counter that saw long built up. The Indian Hotel futures jumped 5.76 per cent to close at 104.65 against the spot close of 104.3. It added 3.26 or 7.2 per cent in open position.

Apollo Tyres and Welspun Gujarat also witnessed accumulation of open position on the long side.

However, BPCL, United Phosphorus and Indiabulls Real Estate witnessed accumulation on the short side, signalling negative bias for these counters.

Tata Tele Services, Idea Cellular and Polaris Software Lab gained mainly on account of short covering.

Hindustan Petroleum, McLeod Russell and Mahindra & Mahindra saw unwinding of long position.

ICICI Bank, Tata Motors, Jindal Saw, Infosys Technologies and Bharti Airtel shed significant open interest positions.

However, realty majors DLF and HDIL added open positions along with rise in price.

FII activity

Foreign institutional investors remained net buyers in the F&O segment on Thursday, thanks to their heavy accumulation (to the tune of Rs 1,171 crore) in the index option segment. They offloaded Rs 106.45-crore worth index futures.

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