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Our Bureau

Chennai, April 21 Despite this being the settlement week for April month contracts, turnover remained on the lower side on the NSE in the F&O segment. The turnover was Rs 40,635 crore against Thursday’s turnover of Rs 42,461 crore. The Nifty April future, however, closed with a premium of about six points with respect to the spot close; the premium was a little higher at 10 points for Nifty May future. The Nifty spot closed at 5037.

Nifty saw a healthy rollover of close to 40 per cent in open interest positions to May month series. It seems long positions have been rolled over to the next month series, which resulted in higher premium for May contracts.

Mini Nifty future, which has predominantly retail interest, also saw a rollover of about 22 per cent, indicating nervousness of retail market participants.

Among the options, Nifty 5000 & 5100 calls and 5000, 4900 and 4800 puts were the most actively traded contracts.

Reliance Industries was the most active followed by Reliance Petroleum, SBI, JP Associates and Tata Steel. Though most of the counters witnessed sharp rise in value, they shed open interest in April contracts.

Essar Oil April future which gained 5.85 per cent added over five per cent in open interest positions. While the future closed at 277.85, the Essar Oil spot price closed at 277.35.

Rollover of open interest positions among individual stocks is rather weak only. Among the counters that saw top rollver are Peninsula Land (47 per cent), Pantaloon Industries 41 per cent and Chennai Petroleum 38 per cent. Biocon, which announced that it would consider bonus share also saw a jump in 44 per cent rollover.

R-pack counters – Reliance Industries, RNRL, Reliance Communications, Reliance Capital, Reliance Petroleum and Reliance Energy – saw a rollover in the region of 7 to 14 per cent only.

More Stories on : Derivatives Markets | On the hedge

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