Turnover shoots up

DERIVATIVES REPORT

Turnover in the derivatives segment increased dramatically to over Rs 10,000 crore on the last day of the June series, which expired on Thursday. The turnover figure was at Rs 10,800 crore with 4.12 lakh contracts being traded.

Turnover in index futures was to the tune of Rs 3,895 crore and in stock futures Rs 5,721 crore.

However, the Nifty July futures (1451.50) still continued to trade at a discount of 19.25 points to the spot Nifty, which closed at 1,470.75. However, this discount is much lower than Wednesday's value.

On Thursday, the open interest position in Nifty went up to close to 71 lakh shares from the previous day's 63 lakh shares. The bearishness continues, dealers pointed out.

Dealers said that the open interest positions in Nifty and the top-traded stocks had been up steadily in the last one month. The increase in open interest is also due to the rollover of positions from the previous month to the current month series.

In terms of value, the top-traded futures contracts were those of Reliance June and July series, Satyam, Tata Motors and State Bank of India.

In the futures segment, Satyam calls at strikes of 290 and 300 were heavily traded as well as Satyam puts at strikes of 290 and 300. Reliance calls at a strike price of Rs 420 was also popular.