The Hindu Business Line : HPCL witnesses active trading

DESPITE the market ending on a strong note, turnover slipped at the futures and options segment on the NSE on Friday to about Rs 7,845 crore as against Thursday's turnover of about Rs 8,638 crore. Stock futures (of individual stock) accounted for a bulk of the trading at Rs 5,116 crore followed by index futures, which accounted for about Rs 1,448 crore.

Index futures: The near-month September contract was the most active among index futures and breached the 1400-mark to close at 1405 as against the previous day's close of 1370.90, gaining 2.49 per cent. The September Nifty futures closed the day in premium to the Nifty spot close of 1399.85. Open interest improved marginally to 22,784 contracts. The unmatched order book suggests bullish undertone for Nifty as bid side overwhelmed the sell side by around 6:1.

The October Nifty futures also ended the day in premium to the spot at 1404 as against the previous day's close of 1371.45. Open interest edged up to 737 contracts.

Stock futures: HPCL was the most active among individual stock futures. Apart from HPCL, counters such as Tata Steel, Tata Motors, Satyam Computer, Infosys and Reliance were also actively traded.

The September futures on HPCL closed the day at Rs 414.55 (Rs 416.05) and in premium to the spot close of Rs 410.10. Open interest slipped by over six per cent to 6,785 contracts.

The HPCL October futures also finished the day in sharp premium (to the spot close) at Rs 418.60 (Rs 420.55) while open interest improving to 122 contracts.

The Tata Steel September futures closed at Rs 271 (Rs 261.10) while the open interest improved to 7,873 contracts; the Tata Steel October futures ended the day at Rs 272.70 (Rs 263) and the open interest jumped to 144 contracts. Both September and October month contracts on Tata Steel ended in premium to the underlying equity close of Rs 267.20.

Index options: With the index ending near the 1400-mark, the September 1400, 1380 and the 1410 strikes on Nifty turned active among calls. Among the puts, the September 1360, 1350 and the 1380 strikes attracted market interest.

The out-of-the money 1400 calls ended the day sharply higher at Rs 34 (Rs 23.05) with open interest improving by over 63 per cent to 2,186 contracts. The 1410 Nifty calls also ended the day sharply higher at Rs 29.05 (Rs 19.20) with open interest jumping by about 225 per cent to 555 contracts.

The deep OTM 1360 Nifty puts ended the day at Rs 17.20 (Rs 30.30); open interest improved in the contract to 1388 contracts.

Equity options: HPCL was the most active followed by Tata Steel and Satyam Computer. The September 440, 460 and the 430 strikes on HPCL were actively traded. The deep out-of-the money HPCL 440 calls closed the day lower at Rs 20.95 (Rs 22.10); open interest jumped by over 10 per cent to 627 contracts.

The September 420 and the 400 strikes on HPCL and the September 4100-strike on Infosys were active among put options.

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