Financial Daily from THE HINDU group of publications
Wednesday, May 21, 2003
Financial Daily from THE HINDU group of publications Wednesday, May 21, 2003 |
|
|
|
|
|
Markets
-
Derivatives Markets Open interest declines in May contracts K.S. Badri Narayanan
TURNOVER dipped at the derivative segment on the NSE on Tuesday to about Rs 2436 crore as against Monday's turnover of about Rs 2958 crore despite the market (particularly tech counters) recovered. Index futures: The May contracts were the most active, while volumes were picking up in the June contracts as well. Interestingly, both the May and the June futures ended the day at 974 as against their previous day's close of 965.25 and marginally higher to the underlying Nifty spot close of 973.95. Open interest in May contracts slipped by over 9 per cent to 12,557 contracts, suggesting investors are squaring up their position ahead of settlement week. The May contracts have seven trading days to expire. Open interest in the June contracts improved by close to six per cent to 3771 contracts. The unmatched order book for May futures suggested more traders willing to go long as the buy side orders outnumbered the sell side. The July contracts closed at 973.30 (966) while open interest improved to 201 contracts, up 5.79 per cent. Stock futures: The May contracts were the most active. Among them, Infosys Technologies and Satyam Computer were the most active following tech recovery. Apart from these counters, SBI, HPCL, Tata Engg and Reliance also witnessed keen interest. Except Digital and BPCL almost all the top traded counters saw their open interest position declining in the May contracts. The Infosys May contract closed at Rs 2855 as against the previous day's close of Rs 2782.95 and in discount to the underlying spot close of Rs 2864. Open interest slipped by closed to two per cent to 4242 contracts. The June futures on Infosys closed at Rs 2860 (Rs 2790.10) while open interest jumped by over 64 per cent to 243 contracts. Index options: The May 960 and the 970 calls and the May 960 and the 950 puts were the most active among index options. The in-the-money (ITM) May 960 calls closed the day higher at Rs 17.95 (Rs 13.55); open interest slipped by over 12 per cent to 1289 contracts. On the other hand, the out-of-the-money (OTM) May 950 puts ended the day lower Rs 2.70 (Rs 5.35) while open interest jumped by about 15 per cent to 1156 contracts. Equity options: The May 170 strike on Satyam, the May 2900 and the 2800 strikes on Infosys, the May 300 strike on HPCL and the May 320 strike on SBI were most active among call options.The HPCL 300 calls closed the day marginally lower at Rs 4.60 (Rs 4.80) with open interest improving by 13 per cent to 987 contracts. The underlying equity on HPCL closed at Rs 293.40. Among puts, The May 170 and the 160 strikes on Satyam, the May 2800, the 2700 and the 2900 strikes on Infosys were the most active. The Infosys 2800 puts (OTM) closed weak at Rs 66.60 (Rs 110); open interest declined by about 19 per cent to 519 contracts.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|