CNBC-TV18's research analyst, Anichya Shah has given F&O highlights:

We had an absolute see-saw session in market and we saw turnover pick up in the end on account of a huge short covering which took place especially in the last half an hour or one hour of trade.

The turnover definitely did pick up after a pretty slow start in trade today. Nifty inched into about a 14 points premium, for most of the day it was trading at about 7-8 point premium. Open interest built up when the market was somewhere at the day’s low was at about 28-29 lakh shares. We can see 16 lakh shares on account of fair bit of short covering, which is why we are seeing the open interest shrink and the premium go up a fair bit in the Nifty.

The fertilizer space, if you look at the charts you can see huge spikes in a last half an hour of trade. Nagarjuna Fertilizers added about 8.5 lakh shares, good cost of carry there of about 1.3 points well over about 24-25% on an annualized basis. Chambal Fertilizers also gave it a fair bit of company.

Cairn India looking extremely strong over the last week continues its uptrend today. 26 lakh shares added, very strong cost of carry, good open interest build up.

Even the sugar space which usually pretty much compliments the movement in the fertilizer space and also oil play.

Shree Renuka saw good open interest build up of about 11.3 lakh shares on a pretty strong cost of carry.

Ranbaxy after that bit of news with Merck saw a fair bit of short covering and that pushed a stock up 24 points in the spot market. But the oil marketing companies continue to see a fair bit of pain, fresh shorts were built up in BPCL and IOC.