Derivatives markets got a boost from the cash markets, which witnessed a strong upturn today. The benchmark index Sensex closed higher above the 3000-mark, led by recovery in economy-related sectors.
In the futures segment, the Nifty August futures, which reflect the sentiment for the short term, closed 4.55 points higher at 971.25 as against a gain of 7.90 points in the S&P CNX Nifty at 969.85 points.
While Nifty September closed 4.85 points higher at 976.55, October futures ended 3.20 points higher at 980.20. All the three futures closed at a premium to the underlying.
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Volumes in all the three Nifty futures were at 6664, 288, and 6 contracts, respectively. However, open-interest positions improved to 10401, 458 and 68 contracts, respectively.
Among the stock futures and options, old-economy pivotals such as Tata Engineering, Tata Steel surged. The former gained after the firm's July sales rose 50 per cent. Hindustan Lever Ltd, too, clocked gains.
Other old-economy counters such as Reliance Industries and Hero Honda were also buoyed by the improved sentiment.
Ranbaxy Laboratories rose after news reports that a foreign investor had converted 400,000 shares of the company's GDRs into domestic shares.
Oil PSU stocks, HPCL and BPCL, fell on reports that there could be delays in their privatisation. Infotech counters such as Infosys Technologies, HCL Technologies, and Satyam Computer gained. The volume toppers for the day were Satyam Computer, Silverline Industries and NIIT.