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Our Bureau

Chennai, Sept. 22 Trading turnover dipped sharply to Rs 58,188 crore against Friday’s figure of Rs 73,972.36 crore, despite this being the settlement week for the September contracts. The Nifty September future closed at 4230.4 against the spot close of 4223.05; the premium dipped sharply on account of unwinding of long positions. The Nifty October future closed at 4239.1; the rollover of open positions to Nifty October future improved to 28 per cent from Friday’s 17 per cent.

Among the options, the Nifty 4300 call and 4200 put remained the most active. The un-matched bid/ask order book suggests the emergence of Nifty call writers at 4300. Even in October series, call writers emerged at 4300 strike while genuine put buyers were seen at 3850-strike. This indicates that traders expect a fall on Nifty towards 3850.

The NSE volatility index slipped to end at 37.97 against Friday’s close of 39.12.

Reliance Industries was the most active. The September contract ended at 2046 and the October contract at 2060.65. The rollover stood at 25 per cent while the October contracts added about 11.9 lakh shares in open interest. The unmatched bid/ask order book suggests that most of the additions were on the short side.

Banking major SBI also saw the accumulation of short positions. The SBI September future closed at 1563.2 and the October future at 1561 against the spot close of 1566.9.

The ICICI Bank September closed at 632 against the spot close of 635.75, while the October future at 637.05. It added about 18.37 lakh shares in open interest. This un-matched order book and premium of October indicate accumulation of long positions.

More Stories on : Derivatives Markets | On the hedge | Reliance Industries Ltd

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