Drastic fall in volume seen

DERIVATIVES REPORT

Volumes in the derivatives segment came down sharply to Rs 9,488 crore on the first day of the new series with a total of 2.86 lakh contracts being traded.

The total outstanding position in the market was close to 34 crore shares. Index futures saw a turnover of Rs 1,834 crore with open position outstanding at less than one crore shares.

Stock futures saw a turnover of Rs 6,332 crore with the outstanding position at over 27 crore shares.

In the BSE, the derivatives segment recorded a turnover of Rs 250 crore, while the weekly options turnover was around Rs 20 crore.

On the NSE the most active futures contract were those of Reliance Industries, Tata Steel, Tata Motors and Infosys, among others.

In terms of open interest NTPC futures were at the top with close to 6 crore shares, Tata Steel futures saw an open interest of 2.55 crore shares and IPCL, 1.5 crore shares.

Meanwhile, the open interest put-call ratio and the volume put-call ratio of the Nifty crossed one which indicates bullishness due to a short squeeze developing.

Nifty December futures closed at 1941.40 a premium to the spot value closing of 1939.65 at the end of the day.

The index futures also saw six lakh shares being added in open interest. The put-call ratio was at 0.46 at the end of the day's session.