The Hindu Business Line : FIIs dump index, stock futures

Chennai, Jan. 16 Despite ending the day sharply lower compared with Tuesday’s close, the Nifty January futures witnessed smart recovery during the later part of the day’s trading mainly on account of short-covering. The Nifty January futures closed the day in premium of about 12 points with respect to the spot close. Trading volume at Rs 80,606 crore also spurted against Tuesday’s figure of Rs 65,569 crore.

Index futures

The Nifty January futures, which was trailing the spot Nifty during most part of the day, added about 5 per cent in open interest. The Nifty February futures added about 23 per cent in open interest positions indicating sign of rollovers.

The 6000-strike of both call and put turned active indicating that market hovers around 6K mark. While Nifty 6000 saw sharp surge in open interest positions, 6000 put shed open interest positions.

Stock future

RNRL was the most active contracts followed by Reliance Energy, Reliance Industries, Reliance Capital and NTPC. The other active counters include Reliance Communications, Jindal Steel, ICICI Bank, SBI and HDIL.

RNRL, Reliance Industries and Reliance Capital saw sharp accumulation of open interest positions indicating bullish undertone. RCom and NTPC were the worst losers with the former declining 5.5 per cent the latter by 5.26 per cent. However, both saw sharp rise in open interest positions.

FIIs trend

Foreign institutional investors were net sellers to the tune of Rs 3761.63 crore in F&O segment on Wednesday, according to the NSE. While they dumped Rs 3,164.62 crore worth of index futures and Rs 1,081-crore worth of stock futures, they remained net buyers to the tune of Rs 484.05 core on index options.

Securities under ban

The NSE has banned 12 counters — Adlabs Films, Bindal Agro, Essar Oil, GMR Infrastructure, IFCI, Ispat Industries, IVR Prime, JP Hydro, Orchid Chemicals, Parsvnath Developers, Rajesh Exports and Reliance Petroleum — as open interest positions have crossed the 95 per cent of the market wide position.