Nifty future sees fresh long accumulations

Chennai: Nifty future surged on the back of substantial increase in turnover, which stood at Rs 63,299.5 crore in the F&O segment on the NSE. The turnover is highest since September 2008.

The Nifty March future closed at 2936.5 against the spot close of 2939.9 while the Nifty April future closed at 2932.5. The Nifty March future added 47.7 lakh shares and the April future 62.35 lakh shares and both saw accumulation on the long side.

Among the options, 2900 call was the most active. However, it was 2800 put, with fresh accumulation of 8.2 lakh shares that indicated it could act as a strong support for the Nifty future.

Stock futures

Among the stock futures, momentum counters such as ICICI Bank (31.43 lakh shares), Educomp (1.69 lakh shares), DLF (6.22 lakh shares) and Reliance Capital (8.57 lakh shares) saw sharp accumulation in open interest positions.

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However, Infosys Technologies, Bharti Airtel and Tata Steel saw sharp drop in open interest positions, indicating negative bias.

Among April contracts, Suzlon, Unitech, DLF and ITC witnessed sharp accumulation in open positions.

Overseas investors remained net buyers for Rs 502 crore in the F&O segment.

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