Nifty futures open interest rises 3%

DERIVATIVES ROUND-UP

The S&P CNX Nifty closed on Wednesday at 2204.05, while the Nifty July futures closed at 2191.90, a discount of 0.55 per cent. Nifty futures open interest increased by 3 per cent as there was accumulation happening on the futures segment, brokers said.

In case of index futures, 1,79,431 contracts were traded with a turnover of Rs 3,969 crore, while in case of stock futures, 3,46,658 contracts were traded with a turnover of Rs 10,684 crore.

Index options saw 28,949 contracts with turnover of Rs 646 crore, while stock options saw 22,052 contracts with turnover of Rs 677 crore. Total futures and options turnover on Wednesday was Rs 15,976 crore with a total of 5,77,090 contracts.

Some stock where open interest jumped significantly were Dabur (42 per cent), Federal Bank (25 per cent), Gail ( 23 per cent), GNFC (20 per cent), LIC Housing Finance (41 per cent) and Polaris (15 per cent).

The put-call ratio for Nifty decreased to 1.14 from yesterday's 1.39.

Analysts believe that markets have come up a bit and people booked some profits. The downside from here for sometime is not expected to be much and the markets will remain range bound. The technicals also do not show much pressure on the downside, even as volatility increased on Wednesday from 20 per cent to 22 per cent.

The most active contracts on Wednesday were VSNL (22,832 contracts), Reliance Capital (16,364), SBI (18,242), SRF (14,905), Infosys Technologies (16,011) and Titan (12,719).