Derivatives Volume Surge

The derivatives markets zoomed over two per cent today, with stocks across sectors registering good gains in the spot market. Volume in the June contract perked by over 55 per cent with a rise in open interest with lower activity in the July contract. Since, all the three contracts closed at a discount to the cash market, it suggests that the players are cautious about the near-term market outlook, dealers said.

June Nifty futures closed higher by 10 points at 1061 as against a 18 points gain in the S&P CNX Nifty which closed at 1064.20. However, though the open interest increased over the previous day at 4129 contracts, it remained lower to the total traded volume at 5280 contracts. Nifty July futures closed higher by 8.90 points at 1063.00 amid a volume of 107 contracts and open interest of 362 contracts. Nifty August futures languished in volumes at meagre 26 contracts with an open interest of 18 contracts. The August futures closed higher by 8.90 points at 1063.

 

In the options trading, Nifty June call at 1060 was the most traded paper with the highest open interest. Calls at strikes 1040 and 1080 were also active. The most active puts were at strikes 1040 and 1010.

On the BSE futures segment only the near month contract registered trades. Volumes and open interest both dipped in Sensex June futures at 1300 and 50 contracts respectively. It closed higher by 79.40 points at 3260.00 as against a rise of 63.72 points at 3255.52 in the spot Sensex.

Amid the individual stock options, Telco was the highest premium gainer. Call option at 145 gained nearly two rupees. However, Telco put option at 135 was the next biggest gainer. Tata Power and ITC were the other active contracts. Satyam call option at 240 topped the stock with open interest followed by Reliance Call at 260. In stock futures, Satyam, Telco and Infosys were the most active contracts followed by Reliance and Tisco. The top gainers were Telco July contract followed by MTNL and BHEL June contracts.