The stock futures of Infosys Technologies, Satyam Computer, Reliance Industries and Tata Steel continued to witness hectic trading interest on Tuesday.
Nifty futures began the trading session at par to the spot Nifty and ended the day at a small discount to the spot Nifty, indicating that the outlook in the short-term is flat.
Volumes continued to be dull as the total traded volume fell to Rs 2,043.47 crore from Rs 2,286.84 crore on Monday.
More From This Section
Nifty January and February futures settled at a discount and lower than the previous close. Nifty January futures finished 0.80 points lower at 1092.00, while the NSE S&P CNX Nifty closed 1.55 points higher at 1093.50.
February futures ended 0.80 points down at 1093.10. However, March futures settled at a premium. In index futures, the volume was Rs 200.50 crore with 9,161 contracts traded.
Nifty index options saw 1,738 contracts traded for a notional value of Rs 38.62 crore. The put-call ratio fell to 0.29 (previous 0.63), with more long positions being built.
This is positive news for the market, though the near-term outlook is flat. The top three contracts were calls at strikes 1110, 1100 and 1080. The 1100 put option was also actively traded. The other put options which were busy were 1070 and 1090.
A number of stock futures continued to trade at a premium to their spot prices giving huge arbitrage opportunities.
Reliance Industries clocked gains despite the underlying losing ground in the spot. The trend in the stock options was similar to that of Monday.
Calls of Satyam Computer, Reliance Industries and Bharat Petroleum were active. Satyam calls at Rs 280 and Rs 300 were in the spotlight with expectations built around a good showing by the company for the third quarter. Implied volatilities were flat in most of the stocks.