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Our Bureau

Chennai, April 22

Turnover crossed the Rs 50,000-crore mark for the first time this month as the April month contracts are heading for expiry this Thursday.

Turnover stood at Rs 51,643.74 crore against Monday’s figure of Rs 40,635.23 crore.

The Nifty April future closed in discount at 5043.65 against the spot close of 5049.3, while the May future ended a tad better at 5050.95. Rollover of open interest positions jumped to 55 per cent, which is quite healthy considering current market scenario.

Rollover in Mini Nifty future remained lower at 29 per cent, which indicates that retail investors are still adopting cautious strategy.

Among the Nifty options, Nifty 5000-strike of May contracts was the most active for both call and put.

This indicates a neutral view on the market and traders expect the market to move around 5000 level.

Open interest positions are slightly higher in the case of call options, signalling mild positive undertone of the market.

Reliance was the most active followed by RNRL. The other active counters include momentum players such as DLF, J P Associates, Orchid Chemicals, Reliance Communications and IFCI.

IFCI was the star performer among them as its April future closed at Rs 59.05, a gain of 15.9 per cent, and in premium to the spot close of Rs 58.75. The IFCI May future closed at Rs 59.25; rollover to May month contracts also picked up in the counter to 48 per cent. Reports that the company has shelved plans to sell 49 per cent equity stake to a private equity firm seemed to have buoyed the sentiment.

RNRL was the other counter that finished on a firm note. Its April future jumped 7.5 per cent to end at 118.8 against the spot price close of Rs 118.35. Rollover of open interest positions is 33 per cent.

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