Ispat Ind adds 18 lakhs shares in open interest

Anichya Shah,research analyst, CNBC-TV18 : It’s a quiet day in the F&O space, along expected lines on the first day of trade, we have seen turnover of about Rs 25,000 crore, trudged along these lines, and we should clock in about Rs 33,000 crore by the end. Most of the trade has been concentrated on the Nifty; about 47%-50% of the turnover is coming from the Nifty April series. It’s hovered from about a 1-2 point premium to about 15-20 premium throughout the day, it did go into a slight bit of a discount, just before the inflation data but then as the markets went down, we did see some bit if long build up pushing that open interest bullishing the premium up and we did see the open interest build up, great addition there for about Rs 41 lakh, some short buildup is being seen across the large cap banks and not a significant buildup, but banks like Kotak Mahindra, ICICI Bank, we can see some bit of a short build up 2 lakh shares have been added here, and its gone in about a 0.8% discount indicating some segments of fresh short positions.

SAIL is another stock where we have seen some bit of shorts build up, it’s not gone into a major discount as there has been some bit of cash selling as well, in line with the shorts we have been seeing in the F&O space, so it’s holding a mild premium at this stock. Essar Oil is another stock; where we have seen a fair bit of interest, bucking the negative trend today, and huge open interest build up of about 21 lakh shares after a long time, has gone into a slight premium. So some segments of long buildup in this stock, Ispat Industries from the momentum boys, has seen some bit of open interest build up, 18 lakh shares there, so its gone into a bit of a premium.

A couple of other momentum boys like Nagarjuna Fertilizers asking some trading activities as well and Suzlon Energy has been driven up primarily on the basis of some short covering, some short positions which did exist from the last series and were rolled over, have been covered and you have seen the stock is about at Rs 11, shedding about 3.4 lakh shares.