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Our Bureau

Chennai, Sept. 30 Turnover improved to Rs 55,412.81 crore in F&O on Wednesday. The Nifty futures despite gaining sharply maintained the discount. It closed at 5073 against the spot close of 5083.95. It continued to shed open interest; today it witnessed a drop of 2.61 lakh shares in open interest.

Among the options, 4900 put has the highest amount of open interest at 54.13 lakh shares, suggesting that Nifty faces strong support at that level.

Apart from BankNifty futures, Axis Bank and IDBI also entered the active zone. SBI, Axis Bank and ICICI Bank futures saw a sharp surge in open interest but ended in discount. This indicates that most of the accumulations were on the short side.

Among them, the discount was sharp in the case of SBI. While the futures closed at 2190, the spot price closed at 2212; the futures added 4.62 lakh shares in open interest.

Bank Nifty futures closed at 8785 against the spot close of 8812.35. It added 2.46 lakh shares or 24 per cent in open interest. Discount suggests the accumulations were on the short side.

Foreign institutional investors turned net sellers to the tune of Rs 304.44 crore in Wednesday.

More Stories on : Derivatives Markets | Banking | On the hedge

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