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Our Bureau

Chennai, March 11 Trading volume dipped to sub Rs 40,000-crore on Tuesday despite the overall sentiment remaining positive for most part of the day.

The Nifty March future ended at 4856.55 against the spot close of 4865.9, a discount of about nine points against Monday’s discount of about 16 points. This suggests that lot of traders have squared-off their short positions.

However, the discount for the Nifty April future was about 28 points indicating that some traders still have negative view on the market.

Among the options, the Nifty 5000-call was the most active and added over 23 per cent in open interest positions. This indicates that the Nifty might face resistance at this level.

Reliance was the most active among the individual stock futures. The other active counters include Reliance Energy, Reliance Petroleum, Reliance Capital and RNRL.

Interestingly, momentum counters such as Shree Renuka Sugars, JP Associates and Essar Oil also turned active in today’s trading.

Most of the above counters shed open interest positions, indicating traders’ cautious approach.

The Shree Renuka Sugars March future jumped 22.78 per cent though it saw decline in open interest positions. The counter touched an intra-day high of Rs 1,114.85 but closed the day at Rs 1,090.85 in discount to the spot close of Rs 1,098.35. According to market men, the rise is quite huge, even though sugar stocks saw general optimism on Tuesday. Retail investors should stay away from these kinds of stocks, as they could burn their fingers.

Foreign institutional investors turned net buyers in F&O segment on the NSE to the tune of Rs 621.6 crore. They were net buyers of Rs 640.65 crore in index futures, Rs 41.27 crore on stock futures and Rs 26.51 crore on stock options. However, they were net sellers to the tune of Rs 86.83 crore on index options.

They remained net sellers to the tune of Rs 539.24 crore in the cash segment.

More Stories on : Derivatives Markets | On the hedge

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