The derivatives market ended at a discount to the cash market today as losses in tech stocks influenced the overall F&O section.
Nifty September futures closed at 963.50, down 2.40 points from its previous close but at a discount to the spot S&P CNX Nifty which closed at 966.20, down 4.10 points. Nifty October futures closed at 962.80 points, down 3.10, while Nifty November closed at 966, down 2.20 points.
In the F&O market, volumes rose to Rs 1,611.36 crore with a total of 68,731 contracts traded. The September and October series witnessed volumes of 5449 and 2877 contracts, respectively.
Among index options, action was concentrated around the ATM options, representing a lack of view from market players. 960 calls and puts along with the 970 strike were actively traded. However, the 940 and 950 October puts of Nifty were being bought actively which is indicative that markets could go down further.
In stock futures, technology stocks dominated trading. Satyam and Infosys bridged the arbitrage that was available at the counters on Monday and closed close to their spot prices.
Reliance and BPCL were the other active contracts. In stock options, the top four strikes were of Satyam Computer. Put options of Digital Equipment were actively traded indicating that there is some more downside at the counter.
