Premium on Nifty April futures ends

DERIVATIVES REPORT

Premium on Nifty April 2004 futures vanished on Wednesday as volumes dipped on National Stock Exchange's (NSE) derivative segment. Nifty April 2004 futures ended at 1,848.75, almost at par to its spot closing of 1,848.70.

On Tuesday, Nifty April 2004 futures had ended at a premium to the spot at 1,862.80 compared with spot Nifty closing of 1,851.15. In the spot market, Nifty lost 2.45 points or 0.13 per cent to 1,848.70.

Meanwhile, open interest in Nifty April futures declined to 70.74 lakh from Tuesday's 72.66 lakh. Also, the turnover in Nifty April futures declined to Rs 4,032.13 crore from Rs 4,882 crore on Tuesday.

Meanwhile, the turnover on NSE's futures & options (F&O) segment declined sharply in a lacklustre trading session on Wednesday. The F&O segment registered a turnover of Rs 10,225.46 crore compared with Rs 12,213.64 crore recorded on Tuesday.

In individual stock futures, open interest rose in Tata Motors, Tata Power, Dr Reddy's, BHEL, HLL, Tata Motors and Satyam Computer.

Most individual stock futures contracts traded at slight premium to their spot prices. But Wipro, HCL Tech, ONGC and BPCL saw a decline in open interest. Open interest in Tata Motors April futures rose to 58.38 lakh shares from Tuesday's 56.05 lakh shares.