Satyam in action

DERIVATIVES REPORT

In the derivatives segment the most active futures contracts were those of Satyam Computer, Reliance Industries, Tata Steel, Infosys Technologies and Tata Motors among others.

Tata Steel futures at the end of the day had an outstanding open interest position of 2.38 crore shares, IPCL had an open interest position of more than 98 lakh shares, Arvind Mills 90.5 lakh shares and Maruti nearly 86 lakh shares.

In option calls, the most active contracts were those of Satyam at a strike price of 390, 400, 410 and 380 and Tata Steel at a strike of 290.

In option puts, the most active contracts were those of Satyam at strikes of 390, 380 and 400, Tata Steel at a strike of 290 and Reliance at a strike of 540.

Volumes in the segment also were on the rise. The National Stock Exchange's (NSE) futures and options segment recorded a total turnover of Rs 9,081.44 crore, while Nifty futures saw a turnover of Rs 2,201.29 crore.

In the equity futures segment, the highest turnover was recorded by Satyam futures at Rs 654.88 crore followed by Reliance at (Rs 621.42 crore).

Dealers said the cost of carry has been rising. At the end of the day's trading it was at 19.4 per cent, up from the 15.9 per cent recorded on the previous day. This means that the futures is in an overbought state and the upsides to the market is very little.