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Our Bureau

Chennai, Oct. 4 After witnessing a record turnover of Rs 1,00,056 crore, the NSE F&O segment saw a sharp dip on Thursday at Rs 69,313 crore, of which, stock futures accounted for Rs 45,623 crore.

The top 10 contracts contributed to around 43 per cent of the total traded volume in futures on individual securities. In the last couple of days, the top 10 contracts accounted for bulk of trading (about 50 per cent) indicating that trading is centred around only a few counters.

Outside of Reliance counters, NTPC, Unitech and DLF were most active.

It was volatile for the Nifty future, which swung around the Nifty spot widely but ended on par, thus surrendering the entire premium of about 19 points it commanded on Wednesday. Thursday’s trading pattern suggests that most short positions on Nifty future was covered during mid-session, when the market tumbled heavily.

Power and infrastructure counters — Unitech, DLF, GMR Infrastructure, Tata Power, Siemens and CESC — saw sharp accumulation of open interest positions. For the second continuous day, counters such as GE Shipping, Dabur, Sasken Communications also saw build up in open interest positions. However, IVRCL Infrastructure and Lanco Infra witnessed dip in open interest positions, indicating traders’ preference towards large-cap stocks.

Overseas investors were net buyers to the tune of Rs 2,443.38 crore on Wedneday, according to NSE data. Their open interest positions rose to Rs 55,513 crore (about Rs 14,000 crore in index futures and about Rs 31,000 crore in stock futures). It may be mentioned that FIIs were net buyers of Rs 2,662 crore in spot market on Wednesday.

The NSE has banned the trading on JP Hydro, Nagarjuna Fertilisers, IFCI and Tata Tele Maharashtra Ltd as open interest position limit has crossed the 95 per cent mark.

More Stories on : Derivatives Markets | Power | On the hedge

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