Business Daily from THE HINDU group of publications
Tuesday, Mar 11, 2008
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Business Daily from THE HINDU group of publications Tuesday, Mar 11, 2008 ePaper | Mobile/PDA Version |
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Stock Markets Markets - Derivatives Markets Columns - On the hedge
Our Bureau Chennai, March 10 Thanks to short-covering in the post-lunch session, the discount of the Nifty March future narrowed down considerably to 16.1 points against Friday’s discount of about 45 points. Besides, there were fresh accumulations in open positions, particularly on a few individual stock futures. Trading volumes also picked up to Rs 42,402 crore. On the option side, Nifty 4600 put and Nifty 5000 call were active. While the put saw squaring-off open positions, the 5000-call witnessed fresh accumulation of open interest positions. This also indicates the support and resistance levels for the Nifty. Stock futureReliance Industries was the most active among the individual stock futures. The other active counters include Reliance Energy, Reliance Petroleum, RNRL, Essar Oil, Reliance Capital, L&T, SBI and SAIL. Almost all the counters added fresh open interest positions and also saw squaring off short-positions that was built on last Friday. However, Essar Oil and Reliance Communication shed open interest positions. The Reliance Petroleum March future hogged the limelight in today’s trade. The counter jumped 8.32 per cent and added over four per cent in open interest positions. It closed at 165.95 against the spot price close of Rs 165.4 indicating fresh accumulations of open interest positions. The L&T March future, on the other hand, closed at Rs 2,731.65 against the spot close of Rs 2,728.3. It declined by about 8.2 per cent over Friday’s close. Open interest positions remained flat indicating that most traders squared-off their positions during intra-day itself. After remaining on the buy side in the last few days, foreign institutional investors turned net sellers on Monday. They were net sellers to the tune of about Rs 1003 crore. They were net sellers of Rs 626.35 crore on index futures, Rs 140.74 crore on index options, Rs 225.25 crore on stock futures and Rs 10.61 crore on stock options. In the cash segment, they were net sellers to the tune of Rs 1,248 crore. More Stories on : Stock Markets | Derivatives Markets | On the hedge
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