Smooth rollover seen ahead

VOLUMES REPORT

The National Stock Exchange (NSE) Nifty closed at 2043.85, up 0.75 per cent over its previous close. The current month's derivatives contracts expire on Thursday and the roll over has been good so far, brokers said.

But some volatility is expected tomorrow, they added. The May Nifty futures contracts closed at 2039, a discount of 4.85 points to the spot Nifty while the June contracts closed at 2018, a discount of 25.85 points. Analysts expect a smooth roll over.

Volumes have been higher due to roll over of positions to the next month series. The most active futures contracts were the Nifty, SBI, Tisco, Reliance Industries and Satyam, analysts said.

The Nifty open interest put-call ratio was higher at 1.54 on May 24, which is an all-time high, a dealer from a domestic brokerage said.

The Nifty futures contracts have witnessed a roll over of more than 60 per cent of open positions to the next month series.