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Our Bureau

Chennai, Nov. 18 Turnover improved marginally to Rs 43260 crore in the F&O segment on Tuesday against Monday’s figure of Rs 41,686.9 crore. The NSE November future closed at 2684, slightly higher than the spot close of 2683.15, mainly on account of some buying in the cash segment, particularly towards closing hours.

Among the options, Nifty 2700 put, 2800 call were the most active. The Nifty 2700 put (3.95 lakh shares) and 2600 put (1.15 lakh shares) shed open interests while Nifty 2900 call (2.45 lakh shares) also witnessed a drop in open interest positions. However, Nifty 2800 call saw an accumulation. This indicates that Nifty faces strong support around current level and even at lower levels of 2600 and resistance at 2900 level.

India VIX, which shot up to an all-time high close of 85.13 on Monday, tumbled to 64.60. This indicates that lot of puts have been squared-off, and market could see a bounce-back from current levels.

Lot of stock futures witnessed a fall in open interest positions. NTPC shed 5.91 lakh shares in open interest, DLF 6.13 lakh shares, Bharti AirTel 3.29 lakh shares and Infosys 59,400 shares. Most of them also ended in discount with respect to the spot close.

However, Reliance Industries witnessed short-covering and even added few long positions, particularly during the closing hours. The Reliance November future closed the day at 1143.05 against the spot close of 1139.95.

Similarly, HDFC Bank also witnessed short-covering. It added about 9.58 lakh shares in open interest and closed at 923 against the spot close of 915.1.

The NTPC Nov future closed at 139.4 against the spot close of 139.3 while DLF future ended at 223.4 vs the spot close of 224.3.

Overseas investors remained net sellers in the F&O segment on Tuesday as well. They have offloaded to the tune of Rs 667.05 crore; FIIs net selling on index futures stood at Rs 681.58 crore and on stock futures Rs 8.09 crore, though they net bought Rs 22.62 crore on index options. In the cash segment also, they were net sellers by Rs 441.59 crore, according to NSE provisional data.

More Stories on : Derivatives Markets | On the hedge

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