Nifty Apr future turnover at Rs 6600

CNBC-TV18's Head-Markets Research, Anuj Singhal: The NSE turnover is looking quite good and that is continuing from where we left yesterday’s trade, nearly Rs 21000 crore. The Nifty futures is quite interesting; we have seen the put writing level actually increasing every single day from 4,700 it moved to 4,800 to 4,900.

The Nifty futures Rs 6,600 crore of turnover adding about 23 lakh shares in open interest. The Nifty futures turnover is slightly lower than yesterday because the stock futures action has picked up in today’s trade. But the interesting action is in RNRL and RPL; the two stocks where we saw big open interest build up in yesterday’s trade are seeing profit booking even when the stocks are doing well in today’s trade.

Look at RNRL, which has slipped into a negative cost of carry and has seen a cut of 28 lakh shares in open interest. A clear indication that after that bit of run the stock has had some of the traders are booking profit and not rolling over their positions.

Almost similar is the case with RPL, which has had a stellar run. It has seen a cut of about 28 lakh shares in open interest, about Rs 600 crore of turnover.

Orchid though is a clear star and 30 point is a discount with the 5 lakh shares open interest build up, Rs 600 crore of turnover so lot of reverse arbitrage positions being bucked around.

Satyam is the big star as far as IT is concerned and even in yesterday’s trade Satyam stood out because it was the only counter that actually added open interest compared to other stocks, which mainly had short covering rally. So Satyam is one counter, which has actually seen buying and that has reflected in today’s stats as well. Rs 200 crore of turnover with an open interest build up of nearly 10.5 lakh shares.

All infrastructure related stocks have done quite well today. GMR with a build up of nearly 8 lakh shares.