Tata Steel futures up

DERIVATIVES REPORT

Volumes in the derivatives segment looked up anew on Tuesday with two more days to go before the expiry of the September futures.

The turnover on the National Stock Exchange's derivatives segment was of Rs 9,162 crore with a total of 2.96 lakh contracts being traded. The total outstanding open interest position in the segment was 27.75 crore shares.

The outstanding open interest in index futures at the end of the day was 1.34 crore shares and in the case of stock futures the open interest was 17.88 crore shares. The turnover in index futures was Rs 2,826 crore and the turnover in stock futures was also higher at Rs 5,296 crore.

The most active contracts in the segment were those of Tata Steel, Tata Motors, Reliance Industries, Stayam and State Bank of India. The open interest in Tata Steel October futures rose and at the end of the day was at 90.84 lakh shares, while the open interest in the September futures was lower at 78.85 lakh shares.

This was attributed to the rollover happening at the counter. The open interest in Tata Motors was 51 lakh shares. In option calls, the most active contracts were those of Satyam at a strike of 370, Tata Steel at strikes of 290 and 280, Tata Motors at a strike of 400 and Reliance at a strike of 500.

In puts the most active contracts were those of Satyam at strikes of 370 and 360, Tata Motors at a strike of 400 and Tata Steel at strikes of 280 and 290. The gap between the futures and spot Nifty widened slightly. The September futures ended at 1702.65, a slight premium to the spot which closed at 1,700.25.

The October series closed at 1,697.45, while the November contracts ended at 1,694.55 at the end of the day. The put to call ratio went down to 0.5:1 after having been steady at 0.4:1 for the last four trading sessions.