August Futures End Higher
The expiry of August contracts was the event of the day in the derivatives market on both the NSE and BSE.
Satyam Computer Servies hogged the limelight with huge volumes in the cash market due to squaring up of positions in the futures and option contracts of the stock.
The Nifty futures moved in line with the underlying with Nifty September futures closing 0.40 points lower at983.95, slightly at a discount to the cash market where in Nifty closed 0.20 points lower at 985.50.
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In contrast, the August futures which expired today closed 3.20 points higher at 987.20, indicating a premium over the spot index. The focus shifted to the September futures which becomes the near-month contract tomorrow.
The September futures