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Our Bureau

Chennai, Nov. 7 Nifty November futures wiped its entire premium of 35 per cent with respect to the spot close on Wednesday to the build up of short positions.

Nifty November futures, which closed on par with Nifty December on Tuesday, closed at 5782.4 against the Nifty spot close of 5782.35.

On Tuesday, it ended with a premium of about 35 points. Nifty December futures closed at 5776.85, which indicates addition of short positions in mid-month contract.

Trading volume also dwindled in the F&O segment on the NSE at Rs 62,678 crore against the recent average daily trading volume of about Rs 75,000 crore.

However, both Nifty November and December futures saw additions in open interest positions.

It was favourable day for Reliance pack.

Except for Reliance Industries and Reliance Capital, counters such as Reliance Natural Resources, Reliance Petroleum, Reliance Energy and Reliance Communications witnessed drop in value.

All counters from Reliance pack witnessed drop in open interest positions.

Reliance Petroleum saw a drop of 11 per cent, while RNRL’s open interest declined by 3.6 per cent, Reliance (2 per cent), Reliance Energy (1.3 per cent), Reliance Capital (0.28 per cent) and RCom (0.67 per cent)

Reliance Petroleum, which attracted trading ban on Monday, witnessed a brief trading as some positions were unwounded during intra-day.

However, with additions fresh positions the counter once again attracted the ban.

Besides Reliance Petroleum, counters such as Nagarjuna Fertilizers, SRF, Arvind Mills, Essar Oil and Adlabs Films, were also kept under trading ban as open interest positions have crossed the stipulated 95 per cent of the market-wide position.

More Stories on : Derivatives Markets | On the hedge

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