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Our Bureau

Chennai, April 9 Turnover dipped to the lowest of the month on the NSE on Wednesday at Rs 31,113.78 crore. Nifty future saw a turnover of Rs 12,803 crore and stock future Rs 12,633 crore.

Nifty April future closed at 4740.30 against the spot close of 4747.05, while there was no major change in the open interest positions. Nifty May future ended at 4728.4 and the May future at further discount at 4717.50; they saw sharp jump in open interest positions.

The unmatched order book on Nifty April future showed more buyers than the sellers, indicating mild optimism of market participants.

Call options turned active; among them Nifty 4800 and 4700 strikes attracted heavy volumes. The Nifty 4800 call saw a fresh accumulation of 12 per cent in open interest positions and the 4700 witnessed about 28 per cent jump in open interest positions.

On the put side, Nifty 4700 and 4600 strikes remained the most active. However, open interest positions just saw a moderate accumulation only. This indicates the underlying sentiment has turned positive.

Orchid Chemicals was the most active counter followed by Reliance Industries, Reliance Capital and Shree Renuka Sugars. The other active counters include RPL, SAIL, L&T, Reliance Energy, Suzlon and Tata Steel.

The Orchid Chemicals tumbled sharply to Rs 225.45 against the spot close of Rs 232.35. Open interest position also crashed by 15 per cent. This indicates traders have unwound their long positions, and some even added fresh short positions, which pushed down the futures price below the spot price.

Overseas institutional investors were net sellers to the tune of Rs 238.89 crore in the F&O segment on Wednesday. They remained net sellers of about Rs 502 crore on index futures, FIIs net buying on stock futures stood at Rs 235 crore and on index options Rs 28 crore.

In the cash segment, they were net sellers to the tune of Rs 307.27 crore, according to a provisional data presented by the NSE.

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