The Hindu Business Line : Nifty future sees 36% rollovers

Chennai, Oct. 22 Amidst volatile trading, Nifty future saw a healthy rollover of 35 per cent. Nifty October future closed at 5174.20, while Nifty November future ended at 5156.25 against the Nifty spot close of 5184.

The widened discount of Nifty November future is probably due to the rollover of short positions. Cost of carry at negative 6.7 points and annualised volatility at 43 per cent suggest downward pressure and volatile condition for the Nifty.

The NSE F&O segment witnessed a modest turnover of Rs 71,454.20 crore, of which index future accounted for Rs 22,466 crore and stock future Rs 38,815 crore.

Foreign institutional investors continued their selling spree in the market; on Friday they were net sellers, selling to the tune of Rs 900 crore in F&O segment.

Reliance pack – Reliance Energy, Reliance Industries, RCom and Reliance Capital, Reliance Petroleum – continued to witness sharp activity, while SBI and PowerGrid Corp also saw major heavy trading volumes. Reliance Communications witnessed a sharp rollover of 36 per cent.

Bank counters witnessed sharp gains as well as modest rollovers. Bank Nifty future saw a rollover of 26 per cent.

Among the counters that saw healthy rollovers are GTL, Hindalco, IVRCL Infrastructure, Punj Lloyd, Satyam Computers, Tata Chem and S.Kumars’s Nationwide. However, rollover was rather poor in Kesoram Industries and HTMT Global.

Securities under ban

The NSE has imposed a trading ban on the derivative contracts of NIIT Technologies, SRF & Omaxe, as they have crossed 95 per cent of the market-wide position limit.

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