Volumes, turnover soar

DERIVATIVES REPORT

The volumes in the derivatives segment soared up and on the NSE. The turnover in the segment was of the order of Rs 11,122 crore with over 4 lakh contracts being traded. The total outstanding open interest in the market was close to 42 crore shares.

Index futures saw a turnover of Rs 2,217 crore with open interest position at 1.2 crore shares. Stock futures recorded a turnover of Rs 7,518 crore, while the open interest was 30.60 crore shares.

In the futures segment the top traded contracts were those of Satyam, Reliance Industries, Tata Steel, ACC and State Bank among others. The open interest in NTPC is now at 6.4 crore shares and that in Tata Steel 2.5 crore shares.

In the futures, the Nifty December futures closed at 1993.20 almost on par with the cash closing value of 1993.15. The January futures ended at 1994.65, a premium to the spot closing. The Nifty futures saw an addition of 3 lakh shares in open interest.

Incidentally, the Nifty's open interest put-call ratio had gone up to 1.22 from 1.13, an increase of 8 per cent. The call options saw an addition in open interest to the tune of 1.25 lakh shares, while put options added around 5 lakh shares. The volume put-call ratio has also gone up by 66 per cent indicating that the market is expecting some downturn at the current levels.

The market wide put-call ratio was 0.3, with put options increasing by 9 per cent and call options by around 7 per cent.

Among the counters that saw an addition in open interest were Union Bank, MTNL, Reliance Industries, Satyam, TCS and Wipro among others.

Counters which saw a reduction in open interest were Hero Honda, Ranbaxy, and HLL among others. According to data from the Sebi site, foreign institutional investors were net sellers to the tune of Rs 173 crore with their short positions in stock futures increasing.