Nifty April futures end higher

DERIVATIVES REPORT

The equity derivatives market continued its upward momentum for the third consecutive session amid high volumes of Rs 11,765 crore. Index futures narrowed down the discount and closed at the spot level.

Nifty April futures closed higher at 1889.85 as the underlying spot S&P CNX Nifty closed at higher level of 1890.70 points. The most active futures contracts were the Nifty, Tisco, Tata Motors, SBI and Reliance Industries.

Nifty futures, which were trading at a discount throughout the day, closed at par to the spot Nifty. There has been roll-over in Nifty futures to the May series of 11 per cent till date and the open interest was up by two lakh shares. FIIs were net sellers in the derivatives segment to the extent of Rs 11 crore on Wednesday.

All the stock futures on 52 underlying securities got traded. The total number of contracts traded was 2,16,599 with a traded value of Rs 7,126.88 crore.

The top ten contracts contributed to around 52 per cent of the total traded volume in futures on individual securities. Tisco was the most active future contracts on individual securities traded today with 2,0431 contracts, followed by Maruti with 16,632 contracts being traded.

Stocks that added significant open interest were Larsen & Toubro by 31 per cent, Canara Bank by 30 per cent, Bank of India and Hindalco both by 20 per cent each. BPCL, BHEL and Maruti added above 10 per cent each. Stocks that lost significant open interest were Cipla by 31 per cent and MTNL, SCI and HLL by about 10 per cent each.

Index futures saw a trading volume of Rs 3,648.56 crore arising out of 97,125 contracts and index options saw 9,026 contracts getting traded at a notional value of Rs 340.72 crore. The total turnover of the Futures & Options segment of the exchange was around Rs 11,765.40 crore.

Out of 52 securities, options on 47 underlying securities got traded. The total number of contracts traded was 19,221 with a notional value of Rs 649.24 crore.

The implied volatility in call options was 23 per cent while the volatility in put options was 26 per cent.

The top twenty contracts contributed to around 36 per cent of the total traded volume in Options on individual securities. Tisco was the most active option contracts on individual securities traded today with 2101 contracts and Satyam Comp was the next most active options contracts with 1993 contracts being traded.

Grasim Industries gained 3.4 per cent to end at Rs 1,205.50, Larsen & Toubro's shares went up 5.3 per cent to Rs 629.85 at close after the company obtained court approval for the demerger of its cement business.

There was also positive news from the commerce and industry ministry which said that India's core infrastructure sector grew 7.1 per cent in March from a year ago, boosted by strong growth in the crude petroleum, refining, coal, electricity, cement and steel industries.

Incidentally, these six industries account for more than a quarter of industrial output and are an indicator of industrial growth.