Volumes decline

DERIVATIVES REPORT

Volumes in the derivatives segment dipped on the first day of the new series. The turnover on the futures and options segment of the NSE was at Rs 9542 crore with slightly more than three lakh contracts being traded. The total market-wide open interest position was 20.71 crore shares.

Index futures clocked a turnover of Rs 2664 crore and the outstanding open interest was slightly more than one crore shares. In equity futures, the turnover was of the order of Rs 5706.60 crore and the open interest position at 16.50 crore shares.

In futures the most traded futures contracts were those of Tata Steel, Reliance, Tata Motors, TCS and ONGC among others. The Tata Steel counter saw its outstanding open interest position at 2.21 crore shares.

The open interest in Reliance was 70.63 lakh shares and in Maruti 88.62 lakh shares. Tata Steel calls were the most active at strikes of 290, 300 and 280.

TCS call at a strike of 1040 was quite well traded while the Reliance call at a strike price of 520 was popular. In puts Tata Steel at strikes of 290, 280 and 270 and Reliance puts at 520 and 500 were the most active contracts.

On the first day of the new series the October futures contracts ended at a premium to the spot, reflecting the inherent bullishness in the market. The October Nifty futures closed at 1778.80 against the spot Nifty's closing of 1775.15.

The November series closed at 1774.30 while the December contracts closed at 1772.80 at the end of the day. Among the Nifty constituents the bullish stocks exceeded the bearish stocks.

Calls exceeded puts by a wade margin the put-call ratio being of the order of 0.38 at the end of a week's trading.