Jan futures at a discount

DERIVATIVES REPORT

Nifty December futures traded at a discount of around eight points to the spot Nifty. There was hardly any change in the open interest in Nifty futures. There was roll-over of open positions of around three lakh shares to the January series.

Meanwhile, the most active counters were Reliance Industries, Tata Motors, Tisco and Satyam Computers. The turnover on National Stock Exchnage rose to Rs 12,284 crore on Friday, from Rs 11,211 crore on Thursday.

Outstanding positions in the F&O segment remain huge. Most individual stock futures for December 2003 ended either at a slight premium or at a discount to the spot.

Nifty December 203 futures ended at a discount at 1,772.50. In the spot market, Nifty surged 22.45 points or 1.2% today to 1,778.55. The Nifty January 2003 futures also ended at a discount at 1,768.25.

Outstanding positions in the F&O segment remain huge. In Nifty options, January 1760 call witnessed hectic action with 630 contracts traded, Other calls in demand were in the strike of December 1760 and 1740. In Nifty puts in the strike of, January 1760 were in action.

Reliance Industries (RIL) December futures saw a declined to 58.75 lakh in open interest, from 68.46 lakh shares on Thursday.

RIL December futures (at Rs 519) ended at a discount to the spot closing of Rs 520.85. RIL January 2004 futures (at Rs 523.60) ended at a premium. Reliance December Rs 500 call remained in demand.

Tata Motors's December 2003 futures open declined further to 66.33 lakh from 76.59 lakh shares. The Tata Motors December 2003 futures ended at Rs 434.45 a slight premium to its spot close of 434.20. The Tata Motors January 203 futures ended at a premium at Rs 439.15. In options, December Tata Motors Rs 430 call witnessed actions.