Dec futures discounted

DERIVATIVES REPORT

Nifty December futures ended at a discount to the spot for the third day in a row. While Nifty December futures ended at 1,696.05, the NSE S&P CNX Nifty index settled at 1,698.90, up 3.50 points from its previous close.

Nifty added three lakh shares in the futures segment. The implied volatility saw a sharp fall in Nifty options.

Volumes were moderate and below Rs 10,000 crore. The most active futures contracts were Tata Motors, Tisco, Reliance Industries and Satyam.

The turnover on the National Stock Exchange's derivative segment rose to Rs 9,785 crore on Friday, compared with Rs 9,566 crore on Thursday.

Meanwhile, the cumulative FII positions as percentage of total gross market position in the derivative segment on Thursday stood at 17.37 per cent.

Activity continued to remain centered around near-month contracts. Open interest in the December futures of Tata Steel rose by 10 lakh shares to 1.29 crore shares on Friday, from 1.19 crore shares on Thursday.