Date:01/04/2008 URL: http://www.thehindubusinessline.com/2008/04/01/stories/2008040151641700.htm

Back Nifty future surrenders entire premium

Adds fresh short positions

Our Bureau

Chennai, March 31 Turnover remained moderate at Rs 47,200 crore on the NSE in the F&O segment. Nifty future which commanded a premium of over 32 points, however, turned into discount due to fresh creation of short positions.

There were also panic unwindings of long positions, particularly during the later part of the day.

Nifty April future closed at 4732.3 against the spot close of 4734.5. Over all open interest position remained flat indicating squaring up off long positions.

Nifty call options – 5000, 4800 and 4900 strikes turned active, while among the put options, 4700 and 4800 strikes remained active.

This indicates the possible range for the Nifty on Tuesday.

Among the stock futures, Reliance Industries was the most active. The other active counters include Reliance Capital, Shree Renuka Sugars, HDIL, Reliance Petroleum, Cairn India, DLF, Reliance Energy, Stage Bank of India and ICICI Bank.

Most of the stock futures also surrendered their premium, indicating creation of fresh short positions.

FIIs selling

Foreign institutional investors (FIIs) remained net sellers to the tune of Rs 132 crore. While they were net sellers to the tune of Rs 366.53 crore on index futures and Rs 184.53 crore on stock futures, they remained net buyers of Rs 406.39 crore on index options.

Their net buying on stock options stood at Rs 12.46 crore.

In the cash segment, they remained net sellers to the tune of Rs 865.79 crore.