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After ruling at a discount for several days, Nifty futures turned into premium with respect to spot close.
Nifty June futures closed at 8353.15 and the July futures at 8375.6 as against the spot price of 8353.1. Also FIIs, which until recently remained sellers on index futures, turned buyers.
They bought ₹1,418-crore worth index futures on Monday. This, along with a huge premium in the July series, indicates that the current reversal rally will continue for some time.
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