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C. Raja Rajeshwari

Maruti, IPCL, Polaris, Shipping corporation, Tata Steel and Mastek have open interest build-up of more than 60 per cent of the market wide limit.

WITH more retail investors entering the NSE F&O segment, the exchange recorded all-time high volume of Rs 7,429.41 crore. The previous highest was Rs 6,073.66 crore recorded on July 30, 2003.

The Nifty futures recorded a volume of Rs 965.30 crore and the index options recorded a volume of Rs 209.73 crore. Options on individual securities recorded a volume of Rs 1,290.25 crore and the futures on individual securities recorded a volume of Rs 4,964.12 crore.

Open positions in many contracts have not decreased, but have increased. The July contracts expired on Thursday. In spite, this open interest remained high as compared with previous months.

Nifty: the index has gained Rs 33 and ended the week at 1195.75 levels.

# The implied volatility of calls have decreased to 15 per cent, whereas for the puts have increased to 21 per cent.

# The put-call ratio stood at 0.90 for this week, as compared with previous week's 0.87.

# Gauging by the indicators, the index is likely to weaken in the upcoming week.

# In-the-money calls are expensive, also deep out-of the-money calls are not available. The only OTM available are 1200 and 1210 strike.

# The in-the-money 1190 call was the most active and closed the week with open interest of 1033 contracts. It closed the week at Rs 22.15

# In-the-money puts were expensive. The August 1200 put traded between Rs 29-39

HLL: The company has posted 12.6 per cent rise in profit after tax, before exceptional items, to Rs 450.93 crore for the quarter ended June 30, 2003. In addition the board has proposed an interim dividend of Rs 2.50 per share of Re 1. The spot closed the week at Rs 168.45.

# The August contracts closed at a marginal discount to spot.

# The call implied volatility has risen sharply in recent times, while the put implied volatility has fallen during the same period.

# The put call ratio stood at 0.14 indicating bullish sentiments in the stock.

Reliance: The company has posted a 20.26 per cent jump in net profit to Rs 1,104 crore, for the first quarter ended June 30, 2003. The August futures closed the week with an open interest of 7586 contracts. The August 350-strike, 360-strike and the 370 calls were the most active.

MTNL: The stock has gained Rs 19.05 on a week-on-week basis. The company has posted a net profit of Rs 250.60 crore during the first quarter of the current fiscal, a growth of 0.18 per cent over Rs 249.87 crore recorded in the corresponding quarter last year.

# The open interest across all contracts has jumped two-fold.

# The August Futures are quoting at a discount to spot.

# The implied volatility of the calls has jumped to 86 per cent, whereas that of the puts is at 56 per cent.

ACC: With the interest in cement stocks, ACC has been witnessing a steady uptrend.

# The most active calls were the august 200 and 210-strike contracts.

# The implied volatility has increased for both the calls and the puts.

Other counters: Tata Steel had a 1.67 per cent in its August futures. The stock has gained Rs 16.4 over the week. The futures closed the week with the highest open interest build-up.

Future contracts of SBI, Tata Engg, HPCL, Tata Power were the most active. Futures of Ranbaxy, Dr Reddy, ITC and Wipro closed the week at a huge premium to the spot. Calls on Satyam Computers, HPCL, Maruti were the most actively traded.

Maruti, IPCL, Polaris, Shipping corporation, Tata Steel and Mastek have open interest build-up of more than 60 per cent of the market wide limit.

Note: On the Bombay Stock Exchange (BSE), contracts of Canara Bank, Punjab National Bank, Union Bank, Bank of Baroda have been added in the F&O list. Of these, Canara Bank futures were the most active.

If you have any queries relating to the futures/options please mail them to Futures & Options, Kasturi & sons, 859-860, Anna Salai, Chennai 600 002 or email them to

fno@thehindu.co.in

with a mention of futures/options in the subject line of the mail.

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