The Hindu Business Line : Polaris futures down

TURNOVER improved marginally at the futures & options (F&O) segment on the NSE on Thursday to Rs 2165.42 crore as against Wednesday's turnover of Rs 2143 crore. Stock futures and equity options accounted for most of the turnover with Rs 1787.21 crore transactions (involving 82,738 contracts); index derivatives (futures & options) witnessed a turnover of Rs 378.21 crore (involving 19,886 contracts).

Index futures: All the three Nifty futures — April, May and June — contracts ended the day in premium to the underlying Nifty close of 940.70 points. In line with spot movements, the April futures ended the day weak at 942.70 as against the previous day close of 958.60; the May futures closed at 946.55 (961.30) and the June futures at 950 (962.20).

Despite only a few days left for trading, the April futures attracted maximum attention of 13,798 contracts. Open interest also inched up to 17172 contracts, an improvement of about 1.2 per cent. While the May futures attracted a volume of 2001 contracts, the June futures recorded volumes of 73 contracts only. Open interest in these contracts improved by 25 per cent to 3246 in May futures and by 28 per cent to 229 contracts.

Stock futures: The April futures were actively traded. Among them, Satyam was the most active with 12,086 contracts followed by Infosys (9326 contracts), Wipro (5643 contracts), Reliance (5532 contracts) and Polaris Software (3545 contracts). Infosys and Satyam were the active contracts among May futures.

Following the lacklustre financial performance, Wipro slumped to Rs 883.15 (Rs 958.75); Open interest improved by 6.74 per cent to 1869 contracts. The underlying stock closed the day at Rs 880.85, a fall of about 8 per cent.

Polaris also slumped by 11 per cent to close at Rs 109.95 (Rs 123.70). The underlying stock closed the day at Rs 110. Open interest also slipped by 2 per cent to 688 contracts.

Index options: The Nifty April-970 strike with 455 contracts was the most active among index calls followed by the 950-strike (398 contracts) and the April 960-strike (369 contracts). Among puts on Nifty, the April 950-strike with 247 contracts topped the active list. The April 960 strike (220 contracts) and the 940-strike (201 contracts) were also actively traded.

The April 970 calls on Nifty closed the day sharply lower at Rs 1.50 against the previous day close of Rs 6.75. Open interest was also down by over three per cent to 676 contracts. On the other hand, the April 950 puts closed the day on strong note at Rs 14.40 (Rs 8.60). Open interest dropped by over 13 per cent to 281 contracts.

Equity options: The April 150-strike on Satyam was the most active among calls with 1480 contracts. The April 280 strike on Reliance (995 contracts), the April 140-strike (797 contracts) and the April 160-strike (728 contracts) on Satyam and the April 3000 strike on Infosys (421 contracts) were also actively traded. Among puts, the April 140-strike (1376 contracts) and the 150-strike (1280 contracts) on Satyam were the top traded counters. The April 280-strike on Reliance with 945 contracts and the April 2800-strike on Infosys (537 contracts) were also in the actively traded list.

The 150 calls on Satyam closed the day on weak note at Rs 3.95 (Rs 11.80). Open interest improved by over five per cent to 993 contracts. The Satyam stock closed at Rs 144.10 (Rs 157.10).

The Reliance 280 puts ended the day higher at Rs 6.80 (Rs 4.10). Open interest stood at 1846 contracts (only a minor change).

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