Futures see 40% rollover

DERIVATIVES REPORT

Most stocks witnessed roll-over in futures, ahead of maturity of January series on Thursday. Around 40 per cent of stock futures have been rolled over to the February series on Monday.

Generally, about 80-85 per cent roll-over is witnessed by the expiry day. Despite sharp fall in cost of carry, traders continued to roll-over positions, indicating that the uptrend is likely to continue.

Volumes were high at Rs 17,187 crore in the derivatives segment. The most active futures counters were the Nifty, Tata Motors, Tisco, SBI, Reliance Industries, Satyam and Maruti.

Meanwhile, the cumulative FII positions as percentage of total gross market position in the derivative segment as on Friday stood at 19.62 per cent.

Nifty futures traded at a premium of nearly ten points to the underlying spot index. Nifty January futures rose 47.30 points to close at 1,911.90 while S&P CNX Nifty settled at 1,904.70, up 57.15 points.

About 20 lakh shares witnessed roll-over in futures to the next month series. Meanwhile, CNXIT January future 273.40 points to settle at 23,180.20.

In Nifty options, January 1900 call dominated the trading. Other calls in the strikes of 1850 and February 1900 calls were active. In puts, January 1900 puts was most actively traded.

Reliance Industries January futures settled at Rs 582.50 compared with its spot close of Rs 582.75. Open interest in January series fell by 18.67 lakh shares.

Meanwhile, Reliance's January Rs 580 strike call traded at Rs 12.05. Satyam Computer January futures closed at a marginal discount at Rs 343.25 compared with Rs 344.00 in the spot market.

While open interest fell by 10.28 lakh shares in January futures. In stock options, January Satyam Rs 340 calls traded at Rs 8.95. But SBI's January futures traded at a premium to the spot market.

The stock future settled at Rs 650.25 compared with the spot price of Rs 648.15. While the open interest fell by 17.07 lakh shares in January series.