Despite a rally in the broad market, Nifty March and April futures settled at an discount to the underlying index.
Nifty March closed 19.65 points up at 1023.85, while the NSE S&P CNX Nifty ended at 1025.25.
The implied cost of carry for March was a negative 19.83 per cent. April futures settled up 16.35 points at 1024.00, with volume rising to Rs 434.30 crore (from Rs 270.26 crore on Wednesday) arising out of 21,393 contracts.
The total volume in the derivatives segment rose to Rs 3,184.19 crore (from Rs 2371.44 crore) with 1,25,218 contracts traded.
In Nifty options, the put-call ratio ticked up to 0.71 from 0.65 on Wednesday.
The highest volume with 703 contracts traded was in the Nifty March call at 1020.
Other calls among the top traded were at strikes of 1010 and 1000. Among puts the highest volume was in the Nifty March put at 1000 and 1010 and 1020.
The implied volatility in Nifty calls fell to 9-10 per cent as against 17 per cent on Wednesday. The implied volatilities in puts rose to 21-23 per cent.
In stock futures, Infosys Technologies continued to trade at a discount to the spot price. Open interest rose by 42.66 per cent.
Open interest positions in Digital GlobalSoft, NIIT, Tata Steel and Mastek have crossed 80 per cent of the market wide limit and margins in these stocks will be doubled.
In stock options, the trading action in Satyam was similar to that on Wednesday with the 200 and 210 calls dominating the trading along with the 200 and 190 puts.
Reliance Industries continued to be positive with Rs 280 and Rs 300 strikes hogging the action. The implied volatility fell in call options while volatility increased in put options.
