The Hindu Business Line : SAIL, MRPL in the limelight

Despite volatility, particularly towards later part of the day, the Nifty December future ended in a premium of about 19 points with respect to the spot close.

On Monday, the premium was about 11.45 points. Open interest positions, however, declined by about one per cent.

Trading volumes remained moderate at around Rs 56,330 crore, a tad better than Monday’s turnover of Rs 54,816 crore.

Momentum counters

Momentum counters remained at centre of attraction. Jindal Steel was the most active followed by SAIL, MRPL, RNRL, Reliance Energy, Neyveli Lignite, Nagarjuna Fertilizers, IDFC and Essar Oil.

Among them, SAIL and MRPL were in the limelight. SAIL gained 8.7 per cent and added 19 per cent in open interest positions.

MRPL jumped 9.64 per cent and added 15.22 per cent in open interest positions. Both the futures ended in premium to the spot close.

The other buzzing counter Essar Oil was the most volatile among them. The Essar Oil December future saw a high of 322.7 and a low of 289.9 before settling for the day at 298.80.

It saw a sharp decline of 15 per cent in open interest positions, as the counters was kept under ban during later part of the day.

FIIs sellers

Foreign institutional investors continued their selling spree in the F&O segment. According to the NSE provisional data, they were net sellers to the tune of Rs 230 crore.

They continued to be net buyers in index futures and options, suggesting that they expect volatile trading.

Securities under ban

NSE has imposed a trading ban on Essar Oil, IFCI, Rajesh Expo, Adlabs Film, Arvind Mills, Nagarjuna Fertilizers and Bongaigaon Refineries, as open interest positions have crossed 95 per cent of the market-wide position limit.

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