The equity derivatives market gained a premium over the spot after a gap of ten weeks as shares in the cash market rebounded. Investors poured money in steel, cement and banking stocks in anticipation of robust quarterly profits.
Nifty July futures jumped 15.60 points at 1173.80 as against a rise of 10.20 points in the S&P CNX Nifty at 1170.05. Nifty August futures gained 14.95 points at 1172.50 while Nifty September moved up 12.86 points at 1170.
Nifty futures saw a trading volume of Rs 546.64 crore (previous Rs 694.89 crore) arising out of 23480 contracts. The total turnover of the futures & options segment was around Rs 4668.22 crore against Rs 5124.81 crore on Tuesday.
Among stock futures, SBI, Tisco, Telco and Reliance were the top traded counters.
Most stocks finished at a premium to the underlying indicating the bullish sentiment. Reliance Industries added nine lakh shares in open interest positions in the futures segment.
Call options commanded a higher implied volatility of 41 per cent compared to that of 33 per cent in put options.
The SBI counter saw considerable activity during the day, but did not show any major change in the open interest in futures. There was activity in both out-of-the-money call and put options. SBI call options with a strike of 330 added 223,000 shares in open positions.
