Nifty May futures trade at premium to spot price
The May 2016 futures on the Nifty 50 index traded at 8011, a premium of 48.35 points compared with Nifty's closing of 7962.65 in the cash market. The Nifty April 2016 futures traded at 7971.40, near spot closing for the index. Turnover on the National Stock Exchange's (NSE) futures and options (F&O) totaled Rs 5.17 lakh crore, higher than turnover of Rs 3.59 lakh crore registered during the previous trading session.
In the cash market, the Nifty surged 107.60 points or 1.37% to settle at 7,962.65, its highest closing level since 1 January 2016.
Maruti Suzuki India (Maruti), HDFC Bank, Tata Steel, Axis Bank and State Bank of India (SBI) were the top traded individual stock futures contracts on the futures & options (F&O) segment of NSE. Maruti April 2016 futures traded at 3863.50, at a premium compared with spot closing of 3858. HDFC Bank April 2016 futures traded at 1114.95, near spot closing of 1113.50. Tata Steel April 2016 futures traded at 358.60, near spot closing of 357.80.
Axis Bank April 2016 futures traded at 475.70, at a discount compared with the stock's spot closing of 477.80. SBI April 2016 futures traded at 200.75, at a slight discount compared with spot closing of 200.80.
The April 2016 F&O contracts are set to expire on Thursday, 28 April 2016. The May 2016 F&O contracts are set to expire on 26 May 2016.
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